Chinese Stocks Rally As Beijing Signals Reopening—But Economists Divided Over Covid Rebound

Chinese and Hong Kong stocks rallied on Monday and the renminbi jumped against the dollar, a positive sign of returning investor confidence amid rising public discontent and ongoing economic turmoil from years of strict lockdown, though experts are not universally optimistic China can cope well with the inevitable wave of infections reopening entails.On Monday, Hong Kong’s Hang Seng index rose 4.

The renminbi also gained ground and was up more than 1% against the U.S. dollar on Monday, moving past 7 to the U.S. dollar and to its highest level since September. Oil prices also jumped amid hopes of increased Chinese demand, with global benchmark Brent and U.S. benchmark West Texas Intermediate both up more than 2%.Chinese equities to overweight on Sunday after almost two years at an equal-weight position, optimism the firm said was buoyed by numerous positive developments in China and what it viewed as a path to future reopening.

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