Bilibili (09626.HK) saw its stock price surge by 7.43% in Monday's intraday trading, riding the wave of optimism that swept through Chinese stocks following a significant breakthrough in US-China trade relations.
The rally comes as the United States and China have agreed to major reductions in tariffs for a 90-day period, signaling a potential thaw in the long-standing trade tensions between the two economic giants. This development has sparked a broad rally across Chinese equities, with investors betting on improved business conditions and economic growth prospects for Chinese companies.
While Bilibili wasn't specifically mentioned, the positive sentiment has lifted various Chinese stocks and ETFs. Notable gainers include YINN, CWEB, and XPeng, which saw increases of up to 9%, while tech giants like Alibaba and PDD, along with EV maker Li Auto, posted gains of around 7%. As a popular Chinese social media and entertainment platform, Bilibili stands to benefit from the improved trade outlook and the resulting boost in investor confidence in Chinese tech stocks.
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