iQiyi Inc. (IQ), a leading Chinese video streaming platform, saw its stock soar 5.88% in the 24-hour period leading up to the intraday session on Monday. This surge comes on the heels of a significant policy shift announced by China's top leaders.
In a move that marks the first change in monetary policy stance since 2011, China's Politburo, led by President Xi Jinping, announced that the country will embrace a "moderately loose" monetary strategy in 2025. This signals a departure from the "prudent" policy that has been in place for over a decade.
The news sparked a rally in Chinese stocks and ETFs, with the China A50 index futures and the Hang Seng Index (HSI) both jumping 3% in overnight trading. The prospect of easier monetary conditions and a "more proactive" fiscal policy is seen as a positive development for companies like iQiyi, as it could potentially boost economic growth and consumer spending in China.
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