We recently published a list of Why These 10 Firms Recorded Double-Digit Gains Last Week. In this article, we are going to take a look at where Lufax Holding Ltd. (NYSE:LU) stands against other firms that recorded double-digit gains last week.
Ten companies finished the past trading week on a high note, outperforming the three major indices with double-digit gains amid a flurry of catalysts, including upcoming earnings releases, that sparked buying appetite.
Week-on-week, the Nasdaq rallied by 6.7 percent, the S&P 500 clocked in a 4.59-percent gain, while the Dow Jones was up by 2.48 percent.
In this article, we have listed last week’s top 10 performing stocks and detailed the reasons behind their gains. The stocks were chosen based on the highest percentage increase in closing prices on April 25 as against their prices on April 17, or the week prior.
To come up with the list, we considered only the companies with a $2-billion market capitalization and a $5-million trading volume.
A person’s hands typing on a keyboard, circling around a wealth management platform, signifying the company’s cutting-edge technology.
Lufax Holding Ltd.
Lufax Holding grew its share prices by 32 percent week-on-week to end Friday’s trading at $3.12 versus the $2.36 close on April 17 as investors cheered the company’s leadership reshuffling amid an ongoing investigation into certain transactions between 2022 and 2024.
In a regulatory filing on the Hong Kong Stock Exchange, Lufax Holding Ltd. announced the immediate resignation of Yong Suk Cho as the company’s board chairman. He was replaced by Dicky Peter Yip, who previously served as independent non-executive director for the company.
Cho, however, will continue to serve as LU’s chief executive officer and executive director.
Meanwhile, Yip, 78, has served as an independent non-executive director of Sun Hung Kai Properties Limited since September 2004. He also joined HSBC in 1965 and subsequently served as the chief executive of the China business from January 2003 to May 2005, a general manager of HSBC from April 2005 to June 2012, and an executive vice president of Bank of Communications Co., Ltd., among others.
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This article is originally published at Insider Monkey.
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