China Has to ‘Put Action Behind Words’: Analysts on Policy Vows
- Traders bet the regulatory crackdown on tech sector may ease
- Politburo’s pledge is “very bullish for the market”: Bhargava
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A pledge by China’s top leaders to boost economic stimulus is fueling hopes that a bottom is in sight for the nation’s beleaguered stock markets, with traders betting that a crackdown on the tech sector may end.
Chinese equities rallied Friday, with the Hang Seng Tech Index surging 10%, after the Communist Party’s Politburo vowed to spur growth and contain the country’s worst Covid outbreak since 2020. Technology shares led the gains.