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Vipshop (VIPS) Stock Closed Up After China Stocks Hit Two-Week High

NEW YORK (TheStreet) -- Vipshop (VIPS - Get Report) stock closed up 1.65% to $18.45 on Monday, as some U.S. traded China-based stocks rise after Chinese stocks in Hong Kong hit their highest point since September 21.

The Hang Seng China Enterprises Index gained 2% to 9,883.71, a two-week high, according to Bloomberg. The Hang Seng Index increased 1.6%, and mainland markets are closed until Thursday for National Day holidays.

These gains come as China's policy makers are increasing targeted stimulus. The People's Bank of China lowered the minimum down payment on a home for first-time buyers in certain cities, and Beijing is reportedly considering measures to support the economy of major gambling hub Macau, Bloomberg reports.

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Additionally, traders view an interest rate hike by the Federal Reserve this year as increasingly less likely, following disappointing September employment data. Higher interest rates in the U.S. could negatively impact China by increasing the difficulty of paying off the country's...


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