Vipshop (VIPS) stock is soaring 5.01% in pre-market trading on Wednesday, riding the wave of optimism surrounding Chinese ADRs and ETFs. This surge comes as investors react positively to potential improvements in US-China trade relations.
The main catalyst for this upward movement appears to be comments from US President Donald Trump, who hinted at the possibility of lower tariffs on Chinese goods. Trump stated that tariffs "will come down substantially" if the two countries can reach a deal, signaling a potential softening in his stance towards Beijing. This shift in rhetoric has sparked hope for a de-escalation in trade tensions between the world's two largest economies.
Adding to the positive sentiment, US Treasury Secretary Scott Bessent reportedly told investors in a closed-door meeting that the current tariff stand-off with China was unsustainable for both sides. These developments have boosted Chinese stocks across the board, with other major players like XPeng, Alibaba, and PDD Holdings also experiencing significant gains. While there is no specific news about Vipshop, the e-commerce platform is likely benefiting from the overall market optimism towards Chinese companies listed on US exchanges.
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