- Global markets are in rally mode after two days of aggressive selling.
- President Donald Trump and Chinese President Xi Jinping could meet in November at a multinational summit to discuss trade issues, The Wall Street Journal reported.
- As a result, Chinese tech stocks are climbing across the board.
- Watch AlibabaBaidu.comJD.comNioiQiyiBilibiliHuyaPinduoduo trade in real time here.
Chinese tech stocks traded in the US are gaining Friday after an overnight global markets rally and on signals that President Donald Trump and Chinese leader Xi Jinping could meet in November to discuss trade issues.
Overnight, Hong Kong’s Hang Seng (+2.12%) paced the advance in Asia and Britain’s FTSE (+0.69%) was out front in Europe, paving the way for a strong start to the US session.
According to The Wall Street Journal, the White House recently informed Beijing that it has decided to move ahead with plans for the two leaders to meet at the Group of 20 leaders’ summit in Buenos Aires at the end of November. China has been hoping the encounter could provide an opportunity for both sides to ease the escalating trade tensions, the WSJ said citing officials from both nations.
Those developments have been a tailwind on Friday for Chinese tech names traded in the US. Here’s the scoreboard:
- Bilibili(BILI): +7.4%
- Pinduoduo(PDD): +6.5%
- Huya(HUYA): +6.2%
- Nio (NIO): +5.3%
- JD.com (JD): +3.4%
- JD.com (JD): +4%
- Baidu.com (BIDU): +3.7%
- Alibaba (BABA): +3.2%
- iQiyi (IQ): +3%
- The madness in markets has traders paying the most in years to protect against more damage in tech stocks
- Howard Marks made billions piling into the market at the depths of the financial crisis – here’s why he’s continuing to buy now, and what it would take for him to stop
- The world’s biggest stock bear predicts ‘immediate and severe consequences’ for the record-setting market – and explains why $US20 trillion will be wiped from stocks
Business Insider Emails & Alerts
Site highlights each day to your inbox.