TradingKey – As of the close on October 12 Eastern Time, Visa (V) stock rose 0.99% to $389.27, hitting an intraday high of $391.81, recording eight consecutive trading days of gains and setting another all-time high. Notably, Visa announced today that it received approval from the People’s Bank of China to officially begin preparations for establishing a domestic bank card clearing institution in China, advancing a new regulatory process for its entry into China’s domestic payment clearing market, which may continue to support further stock price gains.

Visa stated that the People’s Bank of China has approved its “preparatory application,” allowing the company to officially begin establishing a domestic bank card clearing institution. It…