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China's stock market has boomed despite the coronavirus pandemic and a more antagonistic relationship with the U.S. -- which is expected to persist whether Donald Trump or Joe Biden wins the Nov. 3 election. (Source photos by Reuters)
Market Spotlight

China stocks flourish in Trump era despite hostile politics

Recovering economy expected to spur more gains whatever the US election outcome

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent | China

HONG KONG -- The most hostile U.S. policy toward China in a generation has not stopped the gains in Chinese stocks, which have outscored every major market in Asia bar India since Donald Trump's 2016 election triumph -- and analysts expect more is to come whatever the result of Tuesday's presidential race.

While Chinese equities slumped in mid-2018 after Trump launched his first broadsides in a trade war, imposing tens of billions of dollars of tariffs on goods from China, they rebounded as the two nations neared a preliminary agreement. This year, the value of the Chinese stock market has hit a record high as the economy has shaken off the impacts of the pandemic and a stronger currency, with analysts saying recovering corporate earnings should extend the gains.

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