Last week, Chinese stocks experienced a significant surge fueled by the People’s Bank of China’s announcement of a reduction in bank reserve requirements and stimulus plans aimed at supporting the struggling property market. This news resulted in impressive gains for several US-listed Chinese companies across various sectors, with the top 10 performers showcasing substantial growth.
NIO shares, along with other US-listed Chinese stocks, are experiencing a downturn on Wednesday, possibly due to a sell-off following Tuesday’s initial surge after China’s Central Bank announced a new stimulus package. The stimulus package, aimed at combating China’s economic slowdown, includes a reserve requirement ratio cut, lower loan prime and deposit rates, and a reduction in the minimum down-payment ratio for second-time home buyers. Despite the measures, some experts believe the stimulus may have come too late.
