Chinese Stocks Set to Rise After ADRs Jump on Extra Xi Support

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In a surprising move aimed at shoring up the economy and financial markets, Xi made his first known visit to the PBOC since he became president a decade ago. Photo: Bloomberg

(Bloomberg) — Chinese stocks are poised for gains after U.S.-listed shares of mainland companies recorded their biggest one-day jump since July, spurred by rare fiscal measures from Beijing and President Xi Jinping’s stepped up support for the world’s second-biggest economy.

The Nasdaq Golden Dragon China Index climbed nearly 4%, with Bilibili Inc. leading gains among the major technology names. KE Holdings Inc., a platform that facilitates housing transactions, rallied the most in two weeks, and electric-vehicle maker XPeng Inc. jumped more than 10%. FTSE China A50 futures and contracts for Hong Kong’s benchmark Hang Seng Index also joined the rally.