Shares of Chinese companies, including Pinduoduo Inc – ADR (NASDAQ:PDD), are trading lower as investors assess the economic impact of a surge in COVID cases in China.
According to an SCMP report, Hong Kong will start easing social-distancing rules that have been in place for months from April 21, including an extension of dine-in hours for restaurants. It added that people would be permitted to take off their masks when visiting parks and exercising outdoors.
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Pinduoduo is the third- largest e-commerce platform by gross merchandise volume and the largest platform by active buyer in China.
According to data from Benzinga Pro, Pinduoduo is trading lower by 6.35% at $41.12. Pinduoduo has a 52-week high of $144.35 and a 52-week low of $23.21.
