Chinese Stock Rally Cools as Investors See Bumpy Reopening
- Stocks post modest gains after dramatic November performance
- China officials make slow but visible shift on Covid Zero
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A sharp rally in Chinese stocks took a breather Thursday as investors focused on the pace of reopening amid growing signs that the nation is moving away from Covid Zero.
The Hang Seng China Enterprises Index pared most of its 3.7% gain to end 0.2% higher, following a 29% rise in November that was the biggest since 2003. Stocks rallied at the open as Federal Reserve chair Jerome Powell’s speech signaling a slower pace of rate hike also aided risk-on mood.