KE Holdings Inc. (NYSE: BEKE) saw its stock soar 5.13% in Tuesday's trading session, riding a wave of optimism that lifted Chinese stocks traded in the US. The rally comes amid signals of a possible de-escalation in the long-standing trade tensions between the United States and China.
The positive momentum for Chinese stocks was fueled by comments from US Treasury Secretary Scott Bessent at a closed-door investor summit. Bessent reportedly stated that the current tariff standoff with China is unsustainable and expressed expectations for the situation to improve. While negotiations have not yet begun, the Treasury Secretary suggested that a deal between the world's two largest economies is possible.
KE Holdings' surge aligns with broader gains seen across Chinese ADRs and ETFs. Notable performers included the Direxion Daily FTSE China Bull 3X Shares (YINN), which jumped 12%, while other major Chinese tech stocks such as PDD Holdings, XPeng, and Alibaba saw increases of around 6%. The positive sentiment surrounding potential improvements in US-China trade relations appears to be a significant driver behind the stock's upward movement, as investors react to the prospect of a more stable and conducive business environment for Chinese companies operating globally.
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