U.S.-listed shares of Baidu Inc. are up 1.7% in midday trading Tuesday and on track to log their seventh straight session of gains. If the stock finishes in positive territory Tuesday, it would notch its longest winning streak since Feb. 16, 2021, when it rallied for 11 trading days in a row, according to Dow Jones Market Data. Baidu shares are ahead 26.9% during the current stretch of gains. Baidu’s rally comes as enthusiasm continues to build for an eventual reopening of the Chinese economy, after officials in some major cities recently moved to lift certain strict pandemic-related restrictions. Baidu shares are still down about 20% on the year, as the KraneShares CSI China Internet ETF has declined 17%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.