“We are going to make you very happy,” Trump says as Republicans take control of the Senate; Benjamin Netanyahu joins Anthony Albanese in congratulations; Iran’s currency slumps. Follow live updates.
Shares of a Chinese company that sounds like “Trump wins big” to Mandarin speakers jumped as Donald Trump widened his lead in the US presidential vote, while a stock that sounds like Kamala Harris declined. Shares of software and equipment maker Wisesoft, whose local-language name “Chuan Da Zhi Sheng” implies a Trump victory, surged by the daily limit in Shenzhen. The same stock rallied after the Republican won the 2016 election.
“With Trump’s potential win, there could be a risk-on wave” for related meme stocks, said Billy Leung, an investment strategist at Global X ETFs. “While they’re worth watching, the real focus should be on established sectors like tech and finance, which stand to benefit more sustainably from policy shifts tied to a Trump administration.” Chinese investors are known for speculative trading based on such homophones – words that sound similar to another name or a phrase.
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