China's head of state Xi Jinping recently held a meeting with the board members of major tech companies. The result? A sharp rise in the price of shares such as Alibaba $BABA (+5.86%)Tencent $TCEHY (+2.81%) and BYD $1211 (+2.45%) ! 📈
Why is this important? Xi has sent a strong signal of support to the private sector. The message: China wants to support its economy. The Saxo APAC research team emphasizes that Xi encouraged entrepreneurs to focus on their development and to operate in accordance with the law.
Ask yourselves: do you believe that such meetings actually have a long-term impact on the stock market? Or is it just a flash in the pan? Discuss with us! 👍
With the current prices of Alibaba at EUR 121.40, Tencent at EUR 62.11 and BYD at EUR 44.66, we can see how important such political signals are for the market. What do you think of the Chinese government's strategy? 🤔
