The U.S. stock market experienced a mild dip on Monday, with the Dow Jones index falling by a modest 0.1%. However, a wave of optimism swept through U.S.-listed Chinese companies, leading to significant gains. This surge in stock prices was attributed to a combination of positive factors, including continued stimulus efforts and encouraging PMI data.
One of the major highlights of the day was the sharp rise in shares of Prime Medicine, Inc. (PRME). The company announced a strategic research collaboration and license agreement with Bristol Myers Squibb to develop reagents for next-generation ex vivo T-cell therapies, a development that significantly boosted investor confidence. Additionally, Prime Medicine disclosed its intention to focus its pipeline on a set of high-value programs, further solidifying its appeal in the market. The positive news resulted in a 39.6% surge in Prime Medicine shares, reaching $4.8317.
Beyond Prime Medicine, a number of other companies experienced notable gains:
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Uxin Limited (UXIN):
Shares jumped by 28% to $6.68.*
UP Fintech Holding Limited (TIGR):
Gains of 26% pushed the stock to $5.80.*
Capricor Therapeutics, Inc. (CAPR):
Shares surged by 25% to $12.43.*
LexinFintech Holdings Ltd. (LX):
The stock rose by 20% to $2.8750.*
Futu Holdings Limited (FUTU):
The company experienced an 18% increase, reaching $101.15.*
iQIYI, Inc. (IQ):
Shares climbed 14% to $3.2250.*
NIO Inc. (NIO):
After investors agreed to invest a total of 3.3 billion yuan in its Nio China subsidiary, NIO shares rose by 13.8% to $7.42.*
ZEEKR Intelligent Technology Holding Limited (ZK):
Shares climbed by 12.4% to $23.71.*
MINISO Group Holding Limited (MNSO):
The company saw a 9.5% increase in its stock price, reaching $18.76.*
RLX Technology Inc. (RLX):
Shares gained 8.6% to $1.8250.*
New Oriental Education & Technology Group Inc. (EDU):
The stock climbed 7.8% to $79.24.*
Li Auto Inc. (LI):
Shares rose by 7.4% to $27.69.*
Structure Therapeutics Inc. (GPCR):
The stock experienced a 6.5% increase, reaching $44.45.*
Weibo Corporation (WB):
Shares gained 6.2% to $10.52.The positive performance of U.S.-listed Chinese companies highlights the prevailing sentiment of optimism surrounding the Chinese economy. Recent PMI data, despite showing a decline in factory activity, beat estimates, further boosting hopes for continued stimulus measures. These factors collectively contribute to the bullish outlook for these companies in the coming days.
