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Mar 12, 2024 - 19:11
By asia.nikkei.com

Temu parent PDD, JD.com shares gain as tech rally reboots

NEW YORK -- U.S.-listed Chinese technology stocks moved higher Tuesday as the rally in American tech names picked up again on a day that brought slightly hotter-than-expected inflation data for February.

Shares of Temu parent PDD Holdings were up nearly 6% in afternoon trading after Jefferies upgraded its view of the Chinese e-commerce company known for big discounts to "buy," saying it believes "market share gain story in domestic and overseas markets is intact."