Chinese Stocks Gain 20% From Lows, Fueling Market Bottom Calls
- Hang Seng Tech Index gains more than 20% from January low
- Sentiment, foreign inflow and earnings suggest durable bottom
The current sentiment marks a sharp improvement from just months ago, when Chinese shares were among the world’s worst performers.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
A rally in Chinese stocks has sent a number of benchmarks surging 20% from lows, a sign that the battered market may be headed for a more sustainable uptrend after multiple false dawns over the past year.
The Hang Seng Tech Index became the latest gauge to enter a technical bull market during Tuesday trading, joining the ChiNext gauge of China’s growth shares and other sectoral indexes on materials and renewables to hit the milestone.