KE Holdings Inc. (NYSE: BEKE) saw its stock soar 7.86% in pre-market trading on Wednesday, aligning with a broader rally in Chinese ADRs despite the implementation of new US tariffs on Chinese goods. The real estate services provider's strong performance comes as part of a wider trend of Chinese stocks listed in the US showing resilience in the face of escalating trade tensions.
Chinese ADRs demonstrated significant gains in overnight trading, with some stocks rising as much as 15%. This surge occurred despite US President Donald Trump's hefty tariffs on China taking effect, including massive 104% duties on Chinese goods. The resilience of Chinese stocks suggests that investors may be looking beyond the immediate impact of the tariffs, focusing instead on the potential for growth in the Chinese market.
Adding to the positive sentiment, reports indicate that China's top leaders plan to convene a meeting to discuss measures to boost the economy and stabilize capital markets. These potential initiatives, which may include measures to boost domestic consumption and support for capital markets, could be contributing to the optimistic outlook for Chinese stocks like KE Holdings. As the situation develops, investors will be closely watching for any concrete actions from Chinese policymakers that could further support the stock's performance.
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