24H | China ADRs and ETFs Rally. YINN Jumps 6%; Fangdd Soars 14%; PDD Gains 2.5%; Alibaba Rises 2%

Tiger Newspress
2024-12-12

China ADRs and ETFs rallied in overnight trading. YINN jumped 6.13%; Fangdd rose 14%; Tiger Brokers rose 8%; PDD rose 2.5%; XPeng Rose 2.8%; Alibaba, NIO Inc. rose 2%.

Investors awaited details from a key Chinese economic policy meeting that could reveal what measures Beijing might use next year to combat deflation and the impact of potentially higher US tariffs.

China A50 index futures surged 1.5%. China’s economic work conference is expected to conclude on Thursday, which will be followed by a statement published by the Xinhua News Agency. Just days ago, a readout from a Politburo meeting chaired by President Xi Jinping said China would use “more proactive fiscal policies” to improve domestic demand in 2025 with “moderately loose” monetary tools, indicating an inclination toward broad-based stimulus.

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