Shares of Bilibili, a Chinese video sharing platform, surged 11.67% in the pre-market session on Tuesday, as U.S.-traded Chinese stocks rallied sharply following news of potential economic stimulus measures by Chinese authorities.
According to reports, China's Politburo stated that the country will adopt an "appropriately loose" monetary policy in 2023, marking the first easing of its stance in around 14 years. This, coupled with a proactive fiscal policy aimed at spurring economic growth, fueled optimism among investors and drove a broad rally in Chinese stocks.
The positive sentiment extended to U.S. trading, with Chinese companies listed on U.S. exchanges witnessing significant gains. Bilibili, a popular video-sharing platform, benefited from this optimism, leading to the substantial pre-market surge in its stock price.
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