Chinese equities are on course for the biggest monthly gain in almost two years as investors bet the worst of a lockdown-induced economic shock and extended tech sector crackdown in the country has passed, reports the Financial Times.
The CSI 300 index of Shanghai- and Shenzhen-listed stocks has climbed more than 8% in June. That has put the benchmark on track for its biggest one-month rise since July 2020, when global investors snapped up Chinese shares as the country exited its first round of Covid-19 lockdowns ahead of the rest of the world.
Shares were also buoyed this week after China cut quarantine requirements for international arrivals from two weeks to one. That marked the first significant relaxation of travel restrictions since authorities brought Covid outbreaks in Shanghai and Beijing under control.