AIRYY: These 3 Chinese Stocks Are Underperforming in April – StockNews.com
With China dismantling its strict covid restrictions and the economy clocking its fastest pace of growth in over a year. However, Chinese stocks Air China Limited (AIRYY), The9 Limited (NCTY), and ZW Data Action Technologies Inc. (CNET) have underperformed the broader S&P 500’s 3.3% gain over the past month.
On April 18, according to the data released by China’s National Bureau of Statistics, the country’s GDP grew by 4.5% in the first quarter of the fiscal year. Aided by the dismantling of its long-embraced zero-covid policy and the strict accompanying restrictions, this marked the highest growth since the first quarter of last year.
However, Goldman Sachs’ chief China economist Hui Shan cautioned, “Uneven is the right word to describe the current state of the economy, and also, confidence level is not as strong as the macro data are suggesting.”
Moreover, although the Chinese economy has gathered momentum, there remain challenges to its outlook. For example, the country’s…
The post AIRYY: These 3 Chinese Stocks Are Underperforming in April – StockNews.com first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2023/04/24/airyy-these-3-chinese-stocks-are-underperforming-in-april-stocknewscom_2023042443944.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.