Nice read since XMET may be a SPAC for a Chinese Company. Done Deal ???? ???? Chinese technology rallied as the country sealed an investment treaty with the European Union.
See more below.
Investment Treaty
The Great Wall (of Trade) Comes Crashing Down
The EU officially finalized an investment treaty with China today after more than seven years of deliberation (And we thought we were indecisive!).
Critics of the deal, including President-elect Joe Biden, point to concerns of forced labor as their main objections. However, EU officials claim that China has made an “important commitment” to “make continued and sustained efforts” to meet global labor standards.
Now that the deal is done, Beijing will be forced to end unfair trading practices and economic ties between China and the EU will be stronger.
Chinese Tech ????
Done Deal, China Tech Rallied
Chinese tech stocks were rocking today in light of China’s and the EU’s long-awaited deal. The Invesco China Technology ETF ($CQQQ) rallied 4% to close at new highs, up 56% YTD.
Here are a few notable names:
Baidu BIDU +12.6% - 2-year high
Pinduoduo PDD +7.77% - all-time high
Bilibili BILI +14.43% - all-time high
Tencent TCEHY +2.66%
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