China Stock Investors Fixated on Covid Curbs Shrug Off Stimulus
- Investors call for more measures to revive market sentiment
- PBOC’s surprise rate cut on Monday failed to lift the mood
Delivery drivers pass through a security checkpoint as several city blocks are sealed off due to Covid-19 in the Meilong township of Shanghai, China, on Aug. 15.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China is ramping up efforts to revive its economy and boost market confidence. But, stock investors preoccupied with the damage inflicted by the nation’s strict Covid-Zero strategy aren’t buying it.
A gauge of Chinese equities listed in Hong Kong is one of the world’s worst-performing major benchmarks this year, while the MSCI China Index is trading near the lowest level versus its global peers since 2005.