Shares of Chinese electric vehicle maker XPeng Inc. (XPEV) surged 6.48% in Monday's trading session, propelled by China's landmark shift to a "moderately loose" monetary policy stance for the first time in over a decade.
In a crucial meeting, China's top leaders led by President Xi Jinping announced plans to embrace a looser monetary strategy next year, signaling greater economic stimulus ahead. The Politburo also vowed to implement a "more proactive" fiscal policy, suggesting the government is prepared to increase borrowing and deficit levels to support growth.
The policy pivot was warmly greeted by investors, driving a broad rally in Chinese stocks and ETFs listed overseas. The CSI 300 Index tracking major Shanghai and Shenzhen stocks surged over 3%, while the Hang Seng Index in Hong Kong jumped by a similar magnitude. Shares of several major Chinese tech firms listed in the U.S., including Alibaba and Baidu, also posted strong gains in pre-market trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.