Chinese ADRs Shine. iQiyi up 21%; Xunlei up 19%; Kingsoft Cloud up 5%; Bilibili, CHAU, YINN up 2%; NIO, XPeng up over 1%
Some Chinese ADRs jumped on Monday. iQiyi up 21%; Xunlei up 19%; Kingsoft Cloud up 5%; Bilibili, CHAU, YINN up 2%; NIO, XPeng up over 1%.
A gauge of Shanghai-listed stocks is set for its highest close in a decade, as cash-rich local investors plow into a market that has surged amid easing trade tensions with the US.
The Shanghai Stock Exchange Composite Index jumped as much as 1.2% on Monday, putting it on course for its highest finish since August 2015. That cements a roughly 20% turnaround since an April selloff, when US President Donald Trump’s sweeping tariffs roiled global markets. Trump extended a tariff truce with China last week.
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