A Chinese stock whose name sounds like 'Trump wins big' to Mandarin speakers surged nearly 10% on US election day
- A Shenzhen-listed stock that sounds like "Trump wins big" to Mandarin speakers jumped nearly 10% on election day.
- Wisesoft, based in China's Sichuan province, is called "Chuan Da Zhi Sheng" in China. When pronounced, it sounds sort of like "Trump wins big."
- The company, which mainly deals with air traffic management systems, has no business dealings with Trump.
- Wisesoft's stock soared as much as 6.4% in 2016 when the Republican unexpectedly won the election.
- Here's an hour-by-hour guide to election night.
A Chinese stock that sounds like "Trump wins big" to people who speak Mandarin soared nearly 10% on election day, replaying its 2016 performance when the Republican candidate took an early lead in polling results.
Shares in Shenzhen-listed Wisesoft rose 9.8% on the final day of the vote, and was trading around 17 yuan ($2.53) a share at Thursday's close.
In 2016, Wisesoft's shares surged 6.4% after Trump unexpectedly won the election.
The company's Chinese name is "Chuan Da Zhi Sheng," which sounds something like "Trump wins big" when pronounced. A translation for Donald Trump is "Chuan Pu." The company has no business ties with Trump.
Wisesoft's stock is up around 17% year-to-date, compared to the broader Shanghai Composite index which is up by nearly 10% this year.
The company, whose main products include air traffic management systems, is based in Sichuan's Chengdu in China.
US stock futures and the dollar rallied sharply on Thursday as the close presidential race that investors had expected played out, giving a boost to technology shares, crude oil, and cryptocurrencies. But after President Trump falsely declared himself the winner and called for the Supreme Court to stop counting votes, futures erased earlier gains.