Chinese Stocks in Hong Kong Jump, Capping Best Month Since 2003
- Hang Seng China gauge up 29% for month on reopening optimism
- Lifting of lockdown curbs in some districts aided on Wednesday
A Covid-prevention worker guards the entrance of a residential compound placed under lockdown in Beijing, on Nov. 29.
Source: Bloomberg
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Chinese stocks rallied again on Wednesday as the lifting of lockdown restrictions in parts of some districts added fuel to reopening bets that have driven this month’s historic rally.
The Hang Seng China Enterprises Index jumped 2.2% to take November’s gain to 29%, its best for any month since late 2003. The benchmark Hang Seng Index surged almost 27%, the most since 1998. Stocks that benefit from a reopening jumped, including airlines, casinos and restaurant operators.