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MARKET WRAP: JSE soars on hopes of China easing stringent Covid measures

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Chinese authorities have lifted some restrictions in two main cities, but analysts caution against unrealistic expectations

The JSE rose to the best level in seven months on Wednesday as investors bet that China would ease its stringent Covid-19 measures even as some economists cautioned that the process would take longer than expected.

The central Chinese city of Zhengzhou, home to Apple’s biggest iPhone factory, ended a five-day lockdown earlier on Wednesday, while restrictions were also lifted in four districts of Guangzhou in the south of the country. Residents in both cities have clashed with police in protests at the government’s persistently harsh measures to curb the coronavirus. ..

 

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