Stock Chart Icon<\/title>Stock chart icon<\/desc><\/path><\/path><\/path><\/path><\/path><\/g><\/svg><\/p>\n
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China ADR Index<\/p>\n<\/div>\n
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The KraneShares CSI China Internet ETF (KWEB)<\/a><\/span><\/span><\/span> gained 4.2%, while the iShares China Large-Cap ETF (FXI)<\/a><\/span><\/span><\/span> rose 2.2%.<\/p>\n
The U.S. listed shares of Alibaba<\/a><\/span><\/span><\/span> had gained more than 4%, while JD.com<\/a><\/span><\/span><\/span> was up by 5.4%.<\/p>\n
Chinese stocks have been on a tear after Beijing last week unveiled a slew of economic stimulus measures<\/a> including interest rate cuts to support the weak property market. On Thursday, state media said Chinese President Xi Jinping and other top leaders affirmed the measures.<\/p>\n
“While we don’t know for sure if there’s going to be enough to really kick the economy back into gear, it’s certainly the right first step,” said Art Hogan, chief market strategist at B. Riley Securities. “I think the impact of a strengthening China can’t be underestimated.”<\/p>\n
“On balance, this is going to be an ambiguous positive for markets going forward,” he added. “And I think that there’s a lot of investors are going to have to quickly recalibrate their expectations.”<\/p>\n
More U.S. investors are bullish on the market following the move. Last week, billionaire hedge fund founder David Tepper said he is overwhelmingly bullish on Chinese equities, having bought “everything” related to China<\/a> following the Federal Reserve’s recent rate cut.<\/p>\n
\u2014 CNBC’s Gina Francolla, Nick Wells, Lim Hui Jie and Evelyn Cheng contributed to this report.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n
Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":"
A shareholder at a securities hall in Hangzhou, the capital of Zhejiang province in east China, on Sept. 24, 2024. Cfoto | Future Publishing | Getty Images China stocks rallied to their best day in 16 years, with related U.S. ETFs also soaring after recent economic stimulus buoyed investor optimism in the market. The Shanghai…<\/p>\n","protected":false},"author":1,"featured_media":91729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-91728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nChina stocks just had their best day in 16 years, sending related U.S. ETFs soaring -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeworld24.com\/china-stocks-just-had-their-best-day-in-16-years-sending-related-u-s-etfs-soaring\/\" \/>\n<meta property=\"og:locale\" content=\"tr_TR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China stocks just had their best day in 16 years, sending related U.S. ETFs soaring -\" \/>\n<meta property=\"og:description\" content=\"A shareholder at a securities hall in Hangzhou, the capital of Zhejiang province in east China, on Sept. 24, 2024. 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