Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Politics
Anusuya Lahiri

Here's Why Kanzhun, Full Truck Alliance Shares Are Trading Higher Today

  • The app of online recruitment services company Kanzhun Ltd (NASDAQ:BZ) and two apps of the logistics platform Full Truck Alliance Co Ltd (NYSE:YMM), namely, Yunmanman and Huochebang announced the resumption of new user registrations, Reuters reports.
  • The apps were under review by China’s cyberspace regulator.
  • The Chinese government recently expressed support for the domestic tech industry, which had been undergoing intense scrutiny.
  • JD.com, Inc (NASDAQ:JDrenewed the three-year strategic cooperation agreement with Tencent Holding Ltd (OTC:TCEHY). 
  • Tencent will continue to offer JD.com prominent Level I and Level II access points on its Weixin platform to provide traffic support.
  • They look to continue cooperating in several areas, including communications, technology services, marketing and advertising, and membership services. 
  • JD.com will issue shares worth $220 million to Tencent towards the agreement.
  • Tencent sold a $16.4 billion stake in JD.com to Walmart Inc (NYSE: WMT) in 2021, Reuters reports.
  • Tencent, which first invested in JD.com in 2014, owns a 2.7% stake in the company as of March 25.
  • Price Action: YMM shares traded higher by 7.93% at $9.94 in the premarket on the last check Wednesday. BZ shares traded higher by 4.55% at $28.05.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.