China’s Covid-zero strategy seems to be proving a boon for its equities as global markets fret over the omicron coronavirus strain. Nowhere is this more evident than in the performance of the nation’s growth-heavy ChiNext Index.
The gauge dominated by technology and health-care names climbed as much as 1.6% on Monday before closing 1% higher. That’s even as Asian stocks extended losses after Friday’s rout. Renewables and vaccine shares on the ChiNext jumped as investors looked for safe bets.