Xiaohongshu-related share prices surge amid rising app downloads
Xinhua, January 20, 2025 Adjust font size:
Prices of shares related to Xiaohongshu surged in the morning session on Tuesday after the Chinese Instagram-style app rose to the top of the Apple app store chart in the United States.
In the Chinese market, share prices of Foshan Yowant Technology Co., Ltd., Inly Media Co., Ltd., and Shenzhen Ellassay Fashion Co., Ltd. all surged by the daily 10-percent limit. Shanghai Yaoji Technology Co., Ltd. saw an increase of 8.4 percent during the morning session.
This follows Xiaohongshu, or REDnote in English, becoming the No. 1 free app on the Apple app store top charts in the United States as of Tuesday.
Based in Shanghai, Xiaohongshu was founded in 2013 and has grown into one of China's most popular lifestyle social media platforms.
In the morning session Tuesday, the benchmark Shanghai Composite Index climbed 1.75 percent to 3,216 points, while the Shenzhen Component Index rose 2.42 percent to 10,033.42 points at midday.