iQiyi Inc. (IQ) shares surged over 5% in intraday trading on Thursday, outperforming the broader market, as Chinese tech stocks witnessed a broad-based rally fueled by renewed optimism surrounding easing trade tensions between the U.S. and China.
The rally was catalyzed by the U.S. Postal Service's announcement that it will continue accepting inbound mail and packages from China and Hong Kong, reversing an earlier directive. This positive development in U.S.-China trade relations boosted sentiment towards Chinese stocks, including iQiyi, a leading technology-driven entertainment company.
Additionally, the success of Chinese AI startup DeepSeek has prompted investors to reassess Chinese technology companies that are trading at a significant discount to their U.S. counterparts. As a company with strong technology capabilities, iQiyi has garnered renewed buying interest from investors seeking exposure to the burgeoning artificial intelligence sector.
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