China Stocks Near Bull Market Ahead of Lunar New Year Holidays
- Foreign investors are piling into mainland China shares
- Benchmark CSI 300 caps a fourth straight week of gains
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China’s equity benchmark ended little shy of a bull market heading into a weeklong break, as foreign investors continued to buy local shares on the back of the nation’s economic reopening and pro-growth policies.
The CSI 300 Index rose 0.6% on Friday, capping a fourth straight week of gains. The gauge has surged a little more than 19% from an Oct. 31 low, led by consumer stocks and financials, as investors bet on an outburst of retail spending and improved business environment following President Xi Jinping’s moves to exit Covid Zero and focus on growth.