Alibaba, Tencent Stocks Gain. Chinese Markets Ignore Trade War Risk for Now.
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Big Chinese technology companies gained on Thursday as investors focused on the evidence that President Donald Trump is willing to negotiate tariffs. Alibaba rose 1.2% in Hong Kong, Tencent gained 0.8% and Baidu climbed 2.4%. Despite Trump raising the effective tariff on Chinese goods to 125%, traders seemed optimistic a deal might eventually be reached between the world’s two largest economies—despite the risks of further escalation.
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