StocksMedium•3 November 2026•
1 min read
Chinese Tech Stocks Rally as Central Bank Expands Market Support Facility
Key Facts
1PDD Holdings rose 3.9% and Alibaba gained 3.5% following fresh market support signals from Beijing.
2China's central bank will include more firms in its swap facility for brokers, funds, and insurers.
PDD Holdings rose 3.9% and Alibaba gained 3.5% following fresh market support signals from Beijing. TIKR.com reported that China's central bank will include more firms in its swap facility for brokers, funds, and insurers to provide liquidity and stabilize the domestic stock market.
PDD closed at $81.68 and Alibaba closed at $101.5 on November 2, 2026, while JD closed at $26.3 on the same date. These gains follow recent economic data showing the Caixin Manufacturing PMI reached 52 on November 2, 2026, exceeding the forecast of 51.6.
The China Services PMI is scheduled for release on November 4, 2026. Traders will look to this upcoming event to gauge the broader impact of liquidity measures on the non-manufacturing sectors.