Why Chinese Stocks Continued to Zoom Higher on Wednesday

To the detriment of many publicly traded companies headquartered in the U.S., the hot action on the equity markets Wednesday continued to be in Chinese stocks. That's what a massive government stimulus program will do; the one announced by government officials in the giant Asian country in late September is providing some powerful rally fuel. Many top Chinese stocks kept climbing higher, successfully surmounting Hump Day. And, as in previous sessions, investors didn't seem to discriminate by industry.Electric vehicle (EV) maker Li Auto (NASDAQ: LI), which has an additional tailwind of excellent delivery numbers released quite recently, rose by nearly 5% on the day. In a completely different sector, Tencent Music Entertainment Group (NYSE: TME) increased at an almost 8% clip. Even the controversial real estate company KE Holdings (NYSE: BEKE) posted a 5% gain. This isn't the Chinese authorities' first time at the stimulus rodeo, so by now they have quite a good idea how to spread their support throughout the economy.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool