Baidu's stock experienced a significant surge, soaring 5.01% in a 24-hour period on Friday, as positive developments in U.S.-China trade relations boosted investor sentiment. The jump in Baidu's share price came amid a broader rally in Chinese ADRs, following encouraging comments from U.S. President Donald Trump regarding a potential trade deal with China.
President Trump expressed his desire to reach an agreement with China, stating that he "would love to get a deal" to end the escalating trade war. This softened tone from the U.S. administration sparked optimism among investors, leading to notable gains across Chinese stocks listed on U.S. exchanges. Treasury Secretary Scott Bessent further reinforced this sentiment, suggesting that settling trade deals with various countries would bring more certainty to trade policy.
The positive momentum was not limited to Baidu alone. Other prominent Chinese ADRs also saw substantial gains in overnight trading. XPeng and YINN led the pack with an 8% increase, while Bilibili and NIO matched Baidu's 5% rise. Industry giants like Alibaba and JD.com also benefited from the improved outlook, posting gains of 3% and 4% respectively. This widespread rally underscores the market's enthusiasm for a potential easing of trade tensions between the world's two largest economies.
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