{"id":23000,"date":"2023-06-15T10:34:41","date_gmt":"2023-06-15T14:34:41","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/alibaba-baidu-and-jd-com-stock-rise-after-china-cuts-interest-rates\/"},"modified":"2023-06-15T10:34:42","modified_gmt":"2023-06-15T14:34:42","slug":"alibaba-baidu-and-jd-com-stock-rise-after-china-cuts-interest-rates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=23000","title":{"rendered":"Alibaba, Baidu, and JD.com Stock Rise After China Cuts Interest Rates"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000671280\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>The People\u2019s Bank of China indicated that it\u2019s serious about getting the world\u2019s second-biggest economy back on track.<\/p>\n<p>The central bank lowered its main policy rate, the one-year rate that has a big influence on bank funding costs, for the first time in 10 months. Earlier this week, it lowered a one-week interest rate and injected additional money into the banking system.<\/p>\n<div class=\"paywall\">\n<p>The move comes on the heels of disappointing data for retail sales and industrial production. That was just the latest sign that the recovery has been weak since pandemic restrictions on activity were lifted last year, dragged down by sluggish manufacturing and a slump in the once-booming property sector.<\/p>\n<p>\u201cThere are real concerns emerging that the anticipated post-Covid recovery is failing to materialize,\u201d said Darren Nathan, head of equity research at Hargreaves Lansdown.<\/p>\n<p>Stocks cheered the fresh stimulus. Hong Kong\u2019s Hang Seng Index (ticker: HSI) closed 2.2% higher on Thursday. Retailer<br \/>\n        Alibaba<span>\u2019s<\/span><br \/>\n       American depositary receipts (BABA) were up 1.5% in premarket trading.<br \/>\n        Baidu<br \/>\n       (BIDU) rose 1%, and<br \/>\n        JD.com<br \/>\n       climbed 2.2%. The<br \/>\n        iShares MSCI China exchange-traded fund<br \/>\n       (MCHI) added 0.6%.<\/p>\n<p>Worries about growth are feeding expectations that Chinese authorities will do more to stoke demand in the near future. The government aims to achieve 5% economic growth this year. That\u2019s the lowest target in decades, and comes after it badly missed its 5.5% target for 2022.<\/p>\n<p>Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/alibaba-baidu-china-rate-cut-stocks-2de0b274?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The People\u2019s Bank of China indicated that it\u2019s serious about getting the world\u2019s second-biggest economy back on track. The central bank lowered its main policy rate, the one-year rate that has a big influence on bank funding costs, for the first time in 10 months. Earlier this week, it lowered a one-week interest rate and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-23000","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alibaba, Baidu, and JD.com Stock Rise After China Cuts Interest Rates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The People\u2019s Bank of China indicated that it\u2019s serious about getting the world\u2019s second-biggest economy back on track. 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