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Florian J. Muller
Upside Down World: While US stock markets plummeted late last week, Chinese stocks traded in New York jumped higher. The shares of the shopping platform Alibaba, the search engine Baidu and the electric car manufacturer Nio, which had lost heavily in recent months, have been trading around ten percent higher since Friday. The reason for the increased optimism among investors is an agreement between the US accounting authority PCAOB and the Chinese securities regulator CSRC. This is intended to settle a long-standing dispute over the whereabouts of around 200 Chinese companies with a market capitalization of more than 1.5 trillion euros in the US financial markets. But analysts warn that the stock market party may be too soon.