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Chinese Stocks Dominate Mid Cap Space - Bilibili And XPeng Are Among Top 7 Mid Cap Gainers Last Week (Sept 23-Sept 27): Are The Others In Your Portfolio?
BILIBILIBILI(BILI) Benzinga·2024-09-29 18:01

Core Viewpoint - China's central bank has announced a 50 basis points cut in banks' reserve requirement ratio (RRR), leading to a significant boost in the stocks of U.S.-listed Chinese companies across various sectors [1] Group 1: Stock Performance - Lufax Holding Ltd (LU) shares increased by 23.48% [1] - Bilibili Inc. (BILI) shares surged by 32.47%, likely due to expectations of China issuing up to 284billioninsovereigndebtaspartofastimulus[1]KanzhunLimited(BZ)sharesroseby26.63284 billion in sovereign debt as part of a stimulus [1] - Kanzhun Limited (BZ) shares rose by 26.63% [1] - TAL Education Group (TAL) stock climbed by 27.23%, benefiting from aggressive monetary stimulus from the People's Bank of China (PBoC) [1] - XPeng Inc. (XPEV) stock gained 32.50% last week, also influenced by the anticipated issuance of 284 billion in sovereign debt [1] - MP Materials Corp. (MP) stock increased by 32.40% after Baird raised its price forecast from 20to20 to 25 [1] - Rocket Lab USA, Inc. (RKLB) stock rose by 30.92% following several analysts raising their price forecasts [1]