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June’s Looking Like a Game Changer for Beleaguered China Stocks

  • CSI 300 Index caps best two-week rally since February 2021
  • Easing of some lockdowns, regulatory shifts for tech lift mood
The Bund in Shanghai on June 1.
The Bund in Shanghai on June 1.Photographer: Qilai Shen/Bloomberg

From dialing back of a crackdown on tech giants to some easing of Covid curbs, the month of June so far has brought a double dose of good news for China’s stock investors.

Key equity gauges in China and Hong Kong are all rallying this month, bucking a global slide, with an MSCI Inc. gauge of Chinese shares just capping its best week since July 2020. Even as a rebound in virus cases poses a fresh risk, calls are growing that this may be the start of a more sustainable rally in one of the world’s worst-faring major markets this year.