Shares of Aurora Mobile Ltd. JG,
more than doubled to a two-year high in active trading on the market on Friday, after China-based mobile developer service provider announced a partnership agreement with Kuaishou Technology, the TikTok competitor backed by China-based technology giant Tencent Holdings Ltd. , TCEHY,
to improve the effectiveness of advertising monetization. Kuaishou was announced in Hong Kong on Friday, with the share nearly tripling its debut. Aurora Mobile’s share rose 123% on the volume of 7.8 million shares before the open, which compares with the average day of around 683,000 shares. The company said the SaaS (Advertising Software-as-Service) services would enable Kuaishou to help brands and advertisers target potential customers and improve conversion rates and reduce costs. Aurora’s share has more than doubled in the past three months to Thursday (123.6%), while the iShares MSCI China ETF MCHI,
climbed 11.5% and the S&P 500 SPX,
Achieved 10.3%.
