Opinion
Chinese market rally disguises concerns over decoupling
Many investors applaud Beijing’s confidence-boosting measures but the risk of technology nationalism, the redrawing of supply chains and other megatrends are revising calculations about investing in Chinese stocks.
Leo LewisContributorAfter a day on which US-listed Chinese stocks had exploded 33 per cent higher and the Hang Seng Technology Index had staged its biggest ever one-day gain, a veteran Asia investor at one of the world’s largest hedge funds called to declare a turning point.
The scale of the rally was welcome and impressive, he said, but its propellant – a pledge from the top of the Chinese Communist Party to introduce a range of “policies favourable to the market”, and immediate endorsement of that from other high-level government organs – came with huge implications.
Financial Times
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