Why PDD Holdings Stock Jumped 40% in September

The Chinese government's economic stimulus moves added to investor optimism about consumer spending.Shares of PDD Holdings (PDD -0.77%), the parent of Pinduoduo and Temu, soared in September as the Chinese stock market rose broadly in reaction to Beijing's efforts to stimulate the economy.China's economy has yet to fully recover from the impacts of the pandemic and the government's strict and extended "zero COVID" policies. Even though restrictions have been lifted, consumer spending has been subdued since ...