Why Futu, RLX, and Dada Nexus Stocks Keep Rising
Worries over widespread protests against China's zero-COVID policies, which swept China over the weekend, began to subside Tuesday as the scale of the protests moderated. As of 10:45 a.m. ET, online brokerage Futu Holdings Limited (NASDAQ: FUTU) stock is up a strong 10.2%, e-cigarette maker RLX Technology (NYSE: RLX) is even higher at 14.7%, and e-commerce site Dada Nexus (NASDAQ: DADA) is doing best of all -- up 15.8%. The Washington Post tracked protests ongoing in more than a dozen major Chinese cities last night, but while the protests are ongoing, the Post noted that most demonstrations are now much smaller than what was seen over the weekend.