Caixin
Nov 07, 2022 04:32 PM
FINANCE

China Traders Look Beyond ‘Zero-Covid’ Pledge to Snap Up Stocks

Motorists pass by Shanghai’s Lujiazui Financial District on Oct. 17. Photo: Bloomberg
Motorists pass by Shanghai’s Lujiazui Financial District on Oct. 17. Photo: Bloomberg

(Bloomberg) — Chinese stocks rebounded within minutes of opening lower on Monday, as gains in tech and property shares offset disappointment from a reiteration of the “zero-Covid” strategy by health officials. 

The Hang Seng China Enterprises Index was up 3.1% as of 2:44 p.m., extending gains after capping its best week since 2015. A separate gauge of Chinese tech stocks in Hong Kong jumped 4.1%. The offshore yuan weakened 0.6% against the dollar after a 2% surge on Friday.  

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