US-Listed Chinese Stocks, ETFs Surge on New Stimulus Reports

Investopedia09-27

KEY TAKEAWAYS U.S.-listed Chinese companies from Alibaba to Temu parent PDD and China-focused ETFs surged Thursday following reports of more bailouts for the country's suffering economy.Bloomberg ...

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the country's struggling economy.\n\n\n According to Bloomberg, Beijing is considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to shore up the economy, its first such move since the global financial crisis of 2008. \n\n\n China had announced plans to inject money into its state lenders when it laid out a massive monetary stimulus package to boost the economy on Tuesday—but was scant on details.\n\n\n Meanwhile, China's state-run Xinhua News Agency reported that top leaders are pledging to support fiscal spending and stabilize the country's struggling real estate sector.\n\n\n  Tepper's Buy 'Everything' Moment for China  \n Appaloosa Management founder David Tepper said on CNBC Thursday that following China's stimulus, he would buy \"everything\" in China. \"ETFs, I would do futures—everything. Everything,\" the famed hedge fund manager said.\n\n\n The Nasdaq Golden Dragon China index (HXC)—an index of 64 China-based companies traded in the U.S.—was up nearly 11% in early afternoon trading.\n\n\n China-focused exchange-traded funds (ETFs) also rose. The iShares MSCI China ETF (MCHI) jumped 8%, while the iShares China Large-Cap ETF (FXI) added 7%.\n\n\n U.S.-listed shares of Chinese companies were all on a tear. American depositary receipts (ADRs) of PDD Holdings (PDD), parent of online marketplace Temu, surged 13%, while its e-commerce rivals Alibaba Group Holding (BABA) and JD.com (JD) gained 10% and 14%, respectively. EV makers Li Auto (LI) added 8% and Nio (NIO) 6%.\n\nDo you have a news tip for Investopedia reporters? Please email us at\ntips@investopedia.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"Policy And Regulatory","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2470365750"}