Weibo Corporation (WB), the Chinese social media giant, saw its stock soar 6.40% in a 24-hour period, riding the wave of a broader rally in Chinese ADRs. The significant uptick came as investors reacted positively to U.S. President Donald Trump's more conciliatory tone on trade negotiations with China.
The surge in Weibo's stock price aligns with the overall positive performance of Chinese ADRs in overnight trading. While Weibo was not specifically mentioned in the report, other major Chinese tech companies saw substantial gains. XPeng and Bilibili rose by 8%, while industry giants like Alibaba and Baidu saw increases of 3% and 5% respectively. This widespread rally indicates a renewed investor confidence in Chinese stocks listed on U.S. exchanges.
The catalyst for this market optimism was President Trump's statement expressing his desire to reach a trade deal with China, potentially easing the ongoing trade tensions between the two economic powerhouses. During a Cabinet meeting open to the press, Trump's softer stance on trade negotiations sparked hope for a resolution to the escalating trade war. U.S. Treasury Secretary Scott Bessent further bolstered this sentiment by suggesting that settling trade deals would bring more certainty to trade policy, a factor that typically boosts investor confidence in international stocks like Weibo.
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