China Finance Online Co. (NASDAQ: JRJC) is flying in the market today as Chinese stocks soar. More than half of the notable movements that the CNA Finance team has tracked in the market today have been Chinese stocks.
Like many of the stories, JRJC hasn’t issued any news. So, what’s the deal? Today, we’ll talk about:
- Why JRJC stock and other Chinese stocks are flying;
- what we’re seeing in the market; and
- what we’ll be watching for ahead.
Here’s Why JRJC And Other Chinese Stocks Are Climbing!
As mentioned above, China Finance Online is yet another Chinese stock that is flying in the market with no company specific news today. So, what’s the deal? Why are Chinese stocks running for the top.
It is all the result of news that broke over the weekend. According to various reports, China and the United States are getting very close to an agreement that will end the Trade War, giving JRJC and other equities in China a boost.
China and the United States have been in the midst of a Trade War for quite some time. Unfortunately, the economic battle has led to economic concerns about China’s ability to grow int he future. As a result, many stocks in the Chinese space have struggled as of late.
However, that all seems to be changing. According to the news that broke over the weekend, the United States and China are nearing an agreement aht will put a stop to the sanctions and threats of further sanctions ahead.
As a result, JRJC and several other Chinese stocks, specifically in the finance sector, are enjoying gains. After all, if sanctions are lifted, economic conditions in China are likely to improve, giving equities a boost.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to China Finance Online, the news proved to be positive.
Although, like others in the space that have seen gains, the company hasn’t released any news of its own, positive Trade War news seems to be giving the stock a boost.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:52), JRJC is trading at $1.70 per share after a gain of $0.39 per share or 29.77% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on JRJC. In particular, we’re interested in following the trade war news and how lifted sanctions and improved economic conditions may lead to expansion for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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