China says it will support Chinese IPOs abroad, calls for closure on tech crackdown – 180 degree turn on Chinese stocks

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  • Chinese and U.S. regulators are progressing toward a cooperation plan on U.S.-listed Chinese stocks, state media said, citing a financial stability meeting Wednesday chaired by Vice Premier Liu He.
  • Days of worries about U.S. delisting risks, on top of existing concerns about economic growth, had sent Chinese stocks plunging in New York and Hong Kong.
  • Hong Kong’s Hang Seng Index surged in Wednesday afternoon trading, after closing Tuesday at fresh lows not seen in more than six years.
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Seems like the course for Chinese stocks is changing?

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h/t  stefchou

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