Why China Stocks Tencent, NetEase, and Hello Group Were Gaining Today

Shares of Chinese stocks were flying higher today as several different news items propelled the ongoing rebound in the beaten-down sector. First, investors are responding well to the first face-to-face meeting between U.S. President Joe Biden and Chinese President Xi Jinping, which is fueling hopes that tensions between the two countries will subside. In recent years, the U.S. has threatened to delist Chinese stocks that trade in the U.S. if China does not allow U.S. auditors to examine their books, though there have been signs lately that the delistings will not go through.