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A Chinese Company's Stock Is Surging — Thanks To Trump

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A Chinese Company's Stock Is Surging — Thanks To Trump

President Donald Trump seems to have unwittingly benefited a Chinese software company.

What Happened: Shares of Wisesoft Co. Ltd. soared as much as 9.8% on the Shenzhen Stock Exchange on Wednesday. At the time of writing, the stock was trading 6.42% higher.

Bloomberg attributed Wisesofts's price surge to its Chinese name "Chuan Da Zhi Sheng," which apparently sounds like "Trump Wins Big" to native Mandarin speakers.
This is the second time Wisesoft stock is benefitting from the U.S. presidential elections, albeit indirectly. In 2016, when Donald Trump was contesting the elections for the first time, the software company's shares rose 6.4% on Election Day.
Why Does It Matter: Wisesoft touched a 9.4% returns threshold in the Shenzhen exchange on Wednesday, its highest gain since July, Bloomberg noted.

Trump has secured 213 electoral votes in the election,  as of press time, compared to rival Joe Biden's 238 electoral votes, according to the Associated Press.

Photo by Gage Skidmore on Flickr

 

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Posted-In: Bloomberg China Donald TrumpNews Politics Global Media General

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