What does Biden’s exit from the White House race mean for China’s stock traders?

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What does Biden’s exit from the White House race mean for China’s stock traders?

The wild gyrations in global markets add to a slew of headwinds already rattling Chinese stocks, including the absence of strong stimulus measures from the Communist Party’s third plenum last week and slower-than-estimated second-quarter economic growth.

In the Trump trade, which had gained traction after Biden’s poor performance in the TV debate, investors buy the US dollar and bitcoin, while dumping US bonds, because of the former president’s advocacy of trade protectionism, deregulation, increased fiscal spending and tax cuts.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongChinaSingapore

Topics: Trade Traders White Race Biden’s House Democratic Volatility Trump Chinese According

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 07:30:10 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 747 words

Reading Time: 5 minutes read

Sentences: 16 lines

Sentence Length: 47 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21766747

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About SCMP

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Official Website: scmp.com

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Year Established: 1903

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News Last Updated: 8 hours ago

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Publisher ID: #42

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