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Zenger
Zenger
World
Wayne Duggan

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

Xi Jinping China Jeffrey Buchbinder United States National Congress
Xi Jinping at the opening session of the 20th National Congress of the Communist Party of China CPC in Beijing on Oct. 16, 2022. The 20th CPC National Congress opened on Sunday. XUEREN/XINHUA VIA GETTY IMAGES 

The iShares China Large-Cap ETF (NYSE: FXI) jumped Monday morning after China’s President Xi Jinping delivered a speech emphasizing supporting markets.

He suggested the long-lived crackdown on Chinese tech stocks may be nearing an end, and encouraged Chinese companies to buy back their beaten-down stocks.

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