The positivity is spreading across with the recent face-to-face interview of the two superpowers. The Chinese technology firms which were listed in Hong Kong jumped 7.3% on Tuesday.
The US-China relations seem to be turning the major issues that struck the equity market. The Managing Director of Union Bancaire Privee, Vey-Sern Ling, stated that “China appears to be rapidly addressing all the major issues on investors’ minds, such as Covid Zero, real estate slump and US relations. Taken together, these also mitigate the broader concern that China may become more ideological, less pragmatic and increasingly isolated post the 20th Communist Party Congress.”
Referring to the Xi-Biden meeting Dillon Jaghory, an analyst at Global X in New York informed that “Although the meeting contained no dramatic breakthroughs, there was some progress worth noting that should be positive for Chinese equities.”
