Chinese Stocks Extend Gains
Due to their recent strength, Chinese stocks have been a focus of our newsletter for the last few months. And today, that strength continued with hopes that a more relaxed Chinese regulatory environment is on the horizon. 🌤️
Sparking this continued optimism was news that Chinese officials approved an expanded capital plan from Ant Group. The China Banking and Insurance Regulatory Commission approved the company’s request to increase the amount of registered capital for its consumer unit from 8 billion to 18.5 billion yuan.