Hong Kong-listed rare earth stock surges 120% after Xi visits facility

The stock price of China Rare Earth, a Hong Kong-listed rare earths company specializing in mining and production, surged roughly 120% on Monday, following President Xi Jingping’s visit to a rare earths enterprise in Jiangxi province reported Caixin.

Xi’s visit was widely covered by Chinese media including the state-run Xinhua News Agency. Many industry watchers believe that the visit signals China’s intention to further support the industry to hedge risks brought about by the trade war.

Rare earths companies listed on the Chinese mainland are also showing strong performances.