Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing an uphill battle to cement a nascent rebound.
Driving the demand for producers of base metals like copper were signs of a recovering industrial sector in China, a domestic supply squeeze and expectations for global interest rates to drop. While gold is another beneficiary of monetary easing, the fervor for the precious metal also highlights Chinese investors’ hunger for yield as the country’s property woes deepen and returns on bank deposits dwindle.
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