Trip.com Group Limited, a leading provider of online travel services, saw its stock soar by 5% in Friday's trading session. This rally was fueled by renewed optimism in the market, driven by comments from President Donald Trump suggesting a potential easing of trade tensions with China.
In a recent interview with Fox News, Trump expressed a reluctance to impose additional tariffs on Chinese imports, stating, "We have one very big power over China, and that's tariffs, and they don't want them, and I'd rather not have to use it. But it's a tremendous power over China." This remark sparked a bullish sentiment among investors, particularly those holding Chinese American Depositary Receipts (ADRs) and exchange-traded funds (ETFs) tracking Chinese equities.
Trip.com Group, being a prominent Chinese company listed on the Nasdaq, benefited from this positive market sentiment. The easing of trade tensions between the U.S. and China could potentially boost consumer confidence and spending, leading to increased demand for travel services offered by companies like Trip.com Group.
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