While Beijing’s vows have spurred a sharp turnaround for equities after what seemed like a bottomless decline, investors are debating how sustainable this rebound can be. A relaxation of China’s stringent Covid-linked curbs and specific measures within the tech and real estate sectors are what some want to see before being convinced that the relentless rout has ended.
Chinese stocks climbed, adding to Wednesday’s stunning surge, as Beijing’s strong push to stabilize financial markets lures buyers back after a relentless equity selloff.
The Hang Seng China Enterprises Index was up 5.6% as of 10:58 a.m. in Hong Kong, with technology and property shares among the top gainers after officials promised to ease a regulatory crackdown and pledged support for companies in the sectors. On Wednesday, the gauge of Chinese firms listed in the Asian financial hub posted its biggest advance since 2008.
