Chinese communication company, Phoenix New Media Limited (FENG), is trading 14% higher in the Tuesday market despite the company not posting any stock specific news to boost the stock.
The rise, is understood to be powered by the recent news of Central Bank of China granting the Ant Group permission to create a shell company. This has given the investors the confidence to believe that the government crackdown on the Chinese companies listed in the US has finally halted. The stock is currenlty at the peak of the previous 6-month period.
Currently, the stock is trading at $5.36, up $0.70 or 15.02% since its previous close at $4.66. The stock opened at $4.66 in the market and in the 52-week period, the stock has ranged between $2.10 and $10.08 per share.
For comments and feedback contact: editorial@rttnews.com
Business News
December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.