{"id":53464,"date":"2024-09-24T10:23:46","date_gmt":"2024-09-24T14:23:46","guid":{"rendered":"https:\/\/www.businessupturn.com\/usa\/?p=53464"},"modified":"2024-09-24T10:23:46","modified_gmt":"2024-09-24T14:23:46","slug":"li-auto-nio-jd-alibaba-and-baidu-surge-as-chinese-central-bank-slashes-interest-rates","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/usa\/li-auto-nio-jd-alibaba-and-baidu-surge-as-chinese-central-bank-slashes-interest-rates\/53464\/","title":{"rendered":"Li Auto, NIO, JD, Alibaba, and Baidu surge as Chinese Central Bank slashes interest rates"},"content":{"rendered":"<p>Chinese stocks are soaring this morning following a surprise interest rate cut by the People\u2019s Bank of China (PBOC). The central bank slashed its 14-day reverse repurchase rate by 10 basis points to 1.85%, injecting $10.6 billion into the financial system. This move aims to stimulate the slowing economy and boost liquidity.<\/p>\n<p>Top Chinese stocks are responding with significant gains (as of <strong>10:16-10:18 AM ET, Sept 24, 2024<\/strong>):<\/p>\n<ul>\n<li><strong>Li Auto ($23.92)<\/strong>: +7.75% (+1.72) at 10:16 AM ET<\/li>\n<li><strong>NIO ($5.78)<\/strong>: +8.54% (+0.46) at 10:16 AM ET<\/li>\n<li><strong>JD.com ($32.046)<\/strong>: +7.68% (+2.286) at 10:17 AM ET<\/li>\n<li><strong>Alibaba ($94.745)<\/strong>: +5.17% (+4.655) at 10:17 AM ET<\/li>\n<li><strong>Baidu ($92.03)<\/strong>: +4.25% (+3.75) at 10:18 AM ET<\/li>\n<\/ul>\n<p>The rate cut has ignited investor optimism, driving a strong rally across Chinese equities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese stocks are soaring this morning following a surprise interest rate cut by the People\u2019s Bank of China (PBOC). The\u2026<\/p>\n","protected":false},"author":1,"featured_media":53465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[],"class_list":["post-53464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets"],"reading_time":"1 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/53464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=53464"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/53464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/53465"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=53464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=53464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=53464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}