Shares of Chinese live streaming platform Huya Inc. rallied sharply on Thursday, surging 5.04% as U.S.-listed Chinese stocks rode a wave of optimism following China's plans for massive economic stimulus.
The stock's gains were part of a broader rally in Chinese tech and internet companies trading on U.S. exchanges. Investors cheered China's proposals to boost its economy, fueling hopes for a revitalized Chinese market and driving up shares of firms like e-commerce giants Alibaba and JD.com, as well as gaming and streaming companies like Huya.
Analysts expect the bullish sentiment around Chinese equities to continue in the near term, as the stimulus measures are expected to provide a significant boost to the country's economic growth. However, some caution that geopolitical tensions and regulatory uncertainties could still pose risks to the sustainability of the rally.
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