Kingsoft surges on bets China will use its programmes over MS Word

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Beijing Kingsoft Office Software Inc.’s shares surged after the Chinese government used the company’s product for a major policy announcement, reflecting optimism about future demand.

The firm’s Shanghai-listed stock rose as much as 18% on Monday, the most since February. It was one of the best performers in the benchmark CSI 300 Index, which fell 1.7% after trade tensions re-escalated between the US and China.

The Hong Kong-listed shares of the company’s parent Kingsoft Corp. gained as much as 19%.

The surge came after China’s Ministry of…



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Kingsoft surges on bets China will use its programmes over MS Word



Beijing Kingsoft Office Software Inc.’s shares surged after the Chinese government used the company’s product for a major policy announcement, reflecting optimism about future demand.

The firm’s Shanghai-listed stock rose as much as 18% on Monday, the most since February. It was one of the best performers in the benchmark CSI 300 Index, which fell 1.7% after trade tensions re-escalated between the US and China.

The Hong Kong-listed shares of the company’s parent Kingsoft Corp. gained as much as 19%.

The surge came after China’s Ministry of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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