Chinese Stocks Storm Into Bull Market on Covid, Property Shifts
- Hang Seng China Enterprises Index is now up 21% in November
- Property shares led rally Monday as rescue package planned
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November’s stellar rebound in Chinese stocks got another fillip on Monday as plans for a sweeping rescue package to bail out developers sent property stocks rallying.
Along with Friday’s easing of some Covid controls, the property measures gave traders confidence that Beijing is finally taking concrete steps to tackle the two biggest sore points for the economy and markets -- Covid Zero and the property crisis.