Hot Chinese ADRs remained robust in premarket trading; iQiyi Inc., KE Holdings Inc. and XPeng Inc. jumped over 3%.
The Communist Party held its midyear Politburo meeting on Monday and vowed to strengthen countercyclical efforts amid global headwinds. The statement omitted the “housing is for living in, not for speculation” mantra, mentioned streaming of property policies, and called for measures to defuse risk in local government debts.
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