China Stocks Climb, Yuan Jumps Past Key Level on Reopening Shift
- Shanghai relaxes some Covid restrictions, joining other cities
- Hang Seng Tech Index soared 9.3% in a fifth day of gains
This article is for subscribers only.
Chinese equities rallied and the yuan strengthened past a key level, as the authorities accelerated a shift toward reopening the economy and more investors turned bullish.
The yuan breached the 7-per-dollar level, while a gauge of Chinese tech stocks in Hong Kong surged 9.3% in a fifth day of gains. The dollar bonds of developers also rose as financial hub Shanghai and neighboring Hangzhou joined other cities in easing Covid-Zero curbs.