Why Chinese Stocks Tencent Holdings, Baidu, and Futu Holdings Rocketed Higher Today

Shares of Chinese consumer tech-oriented names Tencent Holdings (OTC: TCEHY), Baidu (NASDAQ: BIDU), and Futu Holdings (NASDAQ: FUTU) rocketed higher on Monday, up 5.5%, 10.1%, and 21.9% as of noon ET.There was an across-the-board rally in Chinese stocks today, with the smaller, more economically sensitive stocks in the country rallying the most. This came after the country's Politburo met and made a dovish statement for more forceful and imminent stimulus.On Monday, China's 24-member Politburo released a statement, declaring the government will have a more forceful fiscal response to the country's economic woes, and that the central bank will use a "moderately loose" monetary policy into next year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool