Chinese software development company Wisesoft Co. experienced a 10% surge in shares during the US presidential debate on Friday, attributed to its Mandarin name sounding like “Trump wins big" to native speakers.

Stocks of “Chuan Da Zhi Sheng," the Chinese name of the company, primarily increased in Shenzhen due to current US President Joe Biden's faltered performance during the debate with Republican Party candidate Donald Trump, as well as Chinese investors' speculative trading based on homophones, leading to meme stocks.

“These small-cap Chinese meme stocks related to US elections may start to get the attention of retail investors as the US election rhetoric heats up,” said Bloomberg Intelligence analyst Marvin Chen. “The stocks may see large volatility in the coming months based on the perceived chances of Trump or Biden winning.”

Biden, Trump wrap up first presidential debate

The United States has become uncivilized and is no longer respected in the world, former US President Donald Trump said Thursday, blaming President Joe Biden for causing a decline in the US statute on the world stage.

The first US presidential debate between President Joe Biden and former President Donald Trump took place on Thursday night, marked by the lack of a traditional handshake between the political rivals.

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President Biden asserted that the economy was in disarray under Trump's administration, while Trump blamed Biden for the red-hot inflation rates.

"He has not done a good job. He's done a poor job, and inflation is killing our country. It is absolutely killing us," Trump stressed.

In yet another one of his gaffes, President Biden falsely claimed that no US troops had died abroad during his presidency. "Truth is, I'm the only president… that doesn't have any, this decade, troops dying anywhere in the world," Biden said. However, this statement overlooked the deaths of 13 US military service members during the withdrawal from Afghanistan on August 26, 2021, and three US troops killed by a drone attack in Jordan on January 28, 2024.

Trump then went on to claim that he had averted another Great Depression during the economic turmoil caused by the COVID-19 pandemic, arguing that his leadership kept the economy from collapsing completely.

Trump, moreover, accused Biden of diminishing the United States' global standing. "We're no longer respected as a country. They don't respect our leadership. They don't respect the United States anymore," Trump said. "All of the things he has done, we've become like a third-world nation. And it's a shame."

Biden had a different position, however, claiming that under Trump, "The economy collapsed. There were no jobs" in reference to the crash in employment at the height of Covid and the subsequent climb under the Biden administration to a far better labor market.

"He has not done a good job. He's done a poor job, and inflation is killing our country. It is absolutely killing us," Trump said in response, while his Democratic opponent claimed that Trump only sought to give more tax cuts to the rich, once again stressing that he took from his predecessor a US economy that was in chaos. 

As proof, Biden pointed to the 1,000 plus American billionaires in America, who as a result of Trump’s tax cuts, are "in a situation where they in fact pay 8.2% in taxes."