The rally in Chinese stocks entered its second week Wednesday morning, with shares of Temu owner PDD Holdings ( PDD 3.75%) rising 6% through 10:10 a.m. ET. This was followed by internet search giant Baidu ( BIDU 2.37%), which gained 3.9%, and Pizza Hut and KFC operator Yum China Holdings ( YUMC 4.08%) bringing up the rear with a gain of 3.6%.

PDD Holdings’ (PDD) stock price has staged a strong comeback in the past few weeks as investors embraced a risk-on sentiment. It has risen in the last five consecutive days, paring back the losses made in August after it published relatively weak financial results.

Both stocks have skyrocketed since their debuts. MercadoLibre went public in 2007, and it's surged more than 11,370% from its IPO price of $18 to about $2,037 recently. PDD went public at $19 in 2018, and it's rallied more than 610% to around $135.

Despite the weak economy, PDD has been delivering strong growth, showing that its social commerce model enables it to continue taking market share from competitors like JD.com and Alibaba Group, but the stock plunged on its recent earnings report after it indicated that sales growth was slowing.

We recently compiled a list of the 7 Cheap Beginner Stocks to Invest In. In this article, we will look at where PDD Holdings Inc. (NASDAQ:PDD) ranks among the cheap beginner stocks to invest in. Does Fed Rate Cut Translate to a Higher Consumer Borrowing Trend?