In the aftermath of former U.S. President Donald J. Trump’s assassination attempt on July 14, 2024, Chinese meme stock “Chuan Da Zhi Sheng” from software company Wisesoft Co. went up by 10 points. “Chuan Da Zhi Sheng,” the Chinese name for Wisesoft Co., loosely translates to “Trump wins big” in Mandarin, echoing the overwhelming support the presidential candidate received after his attempted assassination at a political rally in Pennsylvania. Wisesoft’s 10% gains in Shenzhen were led by the rise of the dollar and subsequent fall of Treasury futures as traders weighed in on the possibility of a Trump presidential victory in November.
However, the Chinese meme stock wonder is not an isolated event. In late June 2024, Wisesoft’s share prices shot up after President Biden’s underwhelming rebuttal against Donald Trump in the first television debate of the election season. Similar Chinese meme stocks, such as Aucma Co., whose Mandarin name is “Ao Ke Ma”, which mimics former U.S. president Barak Obama’s name, experienced a surge after his 2008 presidential victory. Wisesoft first charted in the stock market in 2016 after Trump’s victory over Democratic candidate Hilary Clinton. Consequently, it caused a 10% plummet in Chinese company Yunnan Xiyi Industrial Co., or “Aunt Hillary” stocks.
Bloomberg reports that select investors that dominate the Chinese market are “known for speculative trading based on such homophones.” The pro-Trump sentiment across the United States also aided in a Bitcoin surge on Monday, as a reflection of Trump’s optimism towards cryptocurrency. Additionally, South Korean defence and nuclear energy companies also rose in the ranks as key sectors that stand to benefit from a Trump victory later this year.
