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Benzinga
Benzinga
Business
Wayne Duggan

Chinese Stocks Jump Following Xi's Bullish Comments On Tech, Emphasis On Supporting Market

Xi Jinping China NYSE ETF Jeffrey Buchbinder United States

The iShares China Large-Cap ETF (NYSE:FXI) jumped Monday morning after China's President Xi Jinping delivered a speech suggesting the long-lived crackdown on Chinese tech stocks may be nearing an end and encouraging Chinese companies to buy back their beaten-down stocks.

What Happened? Xi delivered a speech at the opening of the 20th Party Congress on Sunday as he secured a third term in power in China.

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