Baidu Inc (NASDAQ BIDU) shares are trading higher by 2.56% to $88.45 going into the close of Monday's session as investors reacted positively to the People's Bank of China's (PBoC) surprise interest rate cut.

The central bank's decision to lower the 14-day reverse repurchase rate by 10 basis points, alongside a liquidity injection of over $10 billion, has fueled optimism for economic recovery in China.

What This Matters: The PBoC's move impacts technology companies like Baidu, which play a central role in China's growth strategy. Baidu, often dubbed the "Google of China," has evolved beyond its core search...