Authored by Garfield Reynolds via Bloomberg,
Chinese equities may have notched a world-beating rally thanks to Beijing’s policy blitz, but they remain laggards for the year. That trend is unlikely to change as investors are overestimating the authorities’ capacity to deliver radical change.
The onshore CSI 300 Index has climbed about 13% in 2024, with all of the gains powered by a growth package unveiled by the authorities in late September. The advance pales in comparison to the MSCI ACWI Index’s 17% climb and the S&P 500 gauge’s 21% surge.
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