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XPeng Inc Shares Experience 308 Decline Amidst Chinas ... - Best Stocks

On June 20, 2023, XPeng Inc – ADR (NYSE:XPEV) shares experienced a 3.08% decline, trading at $10.81 during Tuesday afternoon. In recent news, China has implemented its first reduction in key lending benchmarks in 10 months to support a decelerating economic recovery. However, these easing measures were not as extensive as expected due to concerns regarding the property market. The one-year loan prime rate (LPR) was decreased by 10 basis points to 3.55%, while the five-year LPR saw a similar reduction to 4.20%. This monetary loosening comes as China experiences a slowdown in the initial momentum observed during the first quarter.

beststocks.com     Jun 21, 2023