US-listed Chinese stocks are on track for the best month ever as investors grow more encouraged about a potential shift away from the strict pandemic policies that have slowed the economy, reports Bloomberg.
The Nasdaq Golden Dragon Index surged 5.1% on Tuesday after Beijing vowed to speed up COVID shots for the elderly, which is seen as a critical step toward allowing the nation to abandon its COVID Zero policy. The gain leaves the benchmark of US-listed Chinese shares up 30% this month, a dramatic turnaround from October’s 25% plunge and the biggest monthly advance since the data begin in 2001.
Chinese stocks in Hong Kong also rose, pushing the Hang Seng China Enterprises Index up over 6% Tuesday and putting it on track for the best month since 2003.