Trip.com Group Limited (TCOM) saw its stock soar 5.65% in pre-market trading on Wednesday, as Chinese ADRs (American Depositary Receipts) rallied across the board. This surge comes despite the implementation of hefty new tariffs on Chinese goods by US President Donald Trump, highlighting the resilience of Chinese stocks in the face of escalating trade tensions.
The broader rally in Chinese ADRs saw various companies posting significant gains, with Trip.com being among the top performers. Other notable risers included Bilibili (up 8%), XPeng and Alibaba (both up 6%), reflecting a widespread positive sentiment towards Chinese stocks listed in the US.
This unexpected rally comes as China's top leaders are reportedly planning to convene a meeting to discuss measures to boost the economy and stabilize capital markets. The meeting, which could take place as early as Wednesday, is expected to address initiatives such as export tax rebates and strategies to boost domestic consumption. This proactive approach by Chinese policymakers appears to be bolstering investor confidence, despite the challenging geopolitical environment.
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