There used to be a saying “what a difference a day can make,” but maybe in the modern era it should be “what a difference a tweet can make.” The upcoming G20 conference will come with a chance that the gathering steam of a trade war between the United States and China can come to somewhat of a resolution. It’s way too soon to say any deal will be forthcoming, but at this point all the market seems to care about is that the U.S. and China get back to the negotiating table. After all, both sides have a lot to risk here.

A tweet from President Trump about meeting with China at the G20 has not only lifted the major equity indexes handily. The Dow was up over 300 points, the S&P 500 was up 35 points and the tech-heavy NASDAQ was up the most in percentages (1.8%) with a 145 point gain.

Before investors just swoop in to buy Chinese ADSs because of positive macro-news, it’s important to consider that many of these companies may have little to no direct benefit from overseas news — so long as that overseas news is not going to dry up the local business climate as well, and China has been making efforts to stimulate during this ongoing trade spat.

The @realDonaldTrump tweet from Tuesday said:

Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting.

The news is being considered as “good enough for now” in a market that wants a return to good news. That said, the market seems more hellbent on getting a rate cut at this time than it does on solid economic news that might delay a rate hike.

Here are the gains seen in some of the top Chinese American Depositary Shares (ADSs) which would be of the ‘new economy’ types of companies that trade on the NYSE and NASDAQ. There are of course others on the move, even the old established Chinese companies in metal, energy, telecom and the like.

Alibaba Group Holding Limited (NYSE: BABA) was last seen up almost 5% at $167.98, down from a 52-week high of $207.23.

Baidu, Inc. (NASDAQ: BIDU), the so-called “Google of China” (with an equally sophisticated business model now that goes far beyond search and online efforts), was last seen up 4% at $119.10, down from a 52-week high of $274.00.

Bilibili Inc. (NASDAQ: BILI), an online entertainment services offering games and media for younger generations in China, was last seen trading up 6.5% at $15.30, with a 52-week range of $9.09 to $21.50.

HUYA Inc. (NYSE: HUYA), an operator of live streaming games platforms in China with a $5.5 billion market cap, was last seen up 6.3% at $25.38. It has a 52-week high of $50.49.

JD.com, Inc. (NASDAQ: JD) was last seen trading up 5.5% at $28.83 on Tuesday morning, down from a high of $42.72.

Momo Inc. (NASDAQ: MOMO), the mobile social and entertainment platform in China, was last seen trading up 6.5% at $32.90, down from a 52-week high of $52.42.

Melco Resorts & Entertainment Limited (NASDAQ: MLCO), the Macau-based casino giant, was last seen trading up about 7% at $21.25, versus a 52-week range of $15.33 to $30.47.

NIO Inc. (NYSE: NIO), the so-called “Tesla of China,” was last seen trading up 6% at $2.60. That’s down from a 52-week high of $13.80.

58.com Inc. (NYSE: WUBA), the online classifieds platforms and vertical listing platforms provider in China, was last seen up 7.5% at $63.20. That is down from a 52-week high of $79.98.

To show that things might universally be a win just because of the word “China” in it, Luckin Coffee Inc. (NASDAQ: LK) was last seen down 0.8% at $21.00. Still, the so-called “Starbucks of China” is a recent IPO and may trade with a mind of its own.

The iShares China Large-Cap ETF (NYSEArca: FXI) is really considered to be the daily benchmark for US-China trade woes at this time. Its shares were last seen trading up 2.9% at $41.60 and it was already approaching a normal day’s trading volume after only about 2 hours of trading. The ‘FXI’ ETF has a 52-week range of $37.85 to $45.96.

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