Caixin
Jul 26, 2022 07:30 PM
OPINION

Fisher: Don't Let Cynics Fool You About China’s Stock Rally

Photo: VCG
Photo: VCG

Is the rally real? Since mid-March’s low, Chinese stocks have jumped 33.6%. Stocks pounded the most in the downturn — chiefly, Chinese growth stocks like Tech — have led the way higher since. It is exactly the kind of steep climb early bull markets routinely feature. Yet almost no western investors believe it is real, hyping myriad reasons why this rally should falter. I can’t be sure March 15’s low will hold. But widespread belief it won’t is part of the “Pessimism of Disbelief” underpinning all big market rebounds I’ve written about for decades. Here is how it works.

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Ken Fisher

Ken Fisher is the founder and executive chairman of Fisher Investments, a money management firm serving large institutions and high net worth individuals globally.