False dawn: China reopening may be slow and tumultuous, experts say

Mass covid testing in Macau, China. (Photo: Renato Marques)

Wed, 07 Dec 2022

Chinese stocks, the yuan and oil prices have all been gaining strength this week after covid restrictions were loosened over the weekend.Investment bank Morgan Stanley upgraded its outlook for Chinese equities and recommended investors increase exposure to offshore China equities.MSCI China, an index tracking globally listed Chinese stocks, had increased 6.2% since the start of December and was up more than 17% in the past month.Stephen Innes, a managing partner at SPI Asset Management, said some investors were seeing this period as a &ldq...

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