Stock Track | NIO Stock Soars 7% on Hopes of China Stimulus

Stock Track

Dec 10, 2024

Shares of Chinese electric vehicle maker NIO (NIO-SW) soared 7.08% on Tuesday, riding a broader rally in U.S.-listed Chinese stocks on expectations of economic stimulus measures from Beijing.

The surge came after China's Politburo signaled it will adopt an "appropriately loose" monetary policy next year, representing the first easing of its stance in some 14 years. The government also indicated it would implement a proactive fiscal policy to spur economic growth, as reported by state media Xinhua ahead of the annual Central Economic Work Conference.

The optimism extended to the U.S. trading day, with Chinese companies' U.S.-listed shares rallying sharply. Other EV firms like Li Auto and Xpeng saw gains of over 10%, while tech giants Alibaba, JD.com, and Baidu also climbed. Casino operators with properties in Macau, such as Melco Resorts and Wynn Resorts, also benefited from the positive sentiment.

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