US-listed Chinese stocks rose on the US stock market on the 29th. If this trend continues, it will be the biggest monthly increase since the data began in 2001. Hopes were high that China could reverse its strict coronavirus policies that had slowed its economy.
China’s Nasdaq Golden Dragon Index rose 5%. On the 29th, the Chinese government announced that it will strengthen the new corona vaccine for the elderly over 80 years old. It is considered a key step towards breaking away from the “zero corona” policy which thoroughly prevents the new corona. The index is up 30% this month, a sharp reversal from a 25% drop the previous month.
“Although the road to reopening is expected to be rocky, we believe we are on the right track,” Morgan Stanley strategist Laura Wang wrote in a note to clients. That direction was set by the November 11 easing of COVID-19 guidelines and reinforced by recent statements outlining plans to boost vaccinations for the elderly, they said.
Chinese stocks rebound sharply, rising expectations for economic resumption; stronger support for real estate is also a factor
news-rsf-original-reference paywall">Original title:US-Listed Chinese Stocks Have Their Best Month Ever (抜粋）
