Pdd Holdings Inc. shares rise 1.38% premarket after upbeat U.S. economic data boosts risk appetite.

Pdd Holdings Inc. rose 1.38% in premarket trading. The positive movement can be attributed to the broader market sentiment, as US equity markets ended higher on Thursday after June retail sales beat expectations, boosting risk appetite and lifting the S&P 500 and Nasdaq to fresh record highs. Additionally, the news of Bitcoin Standard Treasury Company aiming to list on the Nasdaq through a merger with a Cantor Fitzgerald-backed blank check vehicle may have contributed to the overall positive market sentiment.