Chinese equities are on a tear. Hong Kong’s Hang Seng Index has risen 13.8% since Sept. 25. The CSI 300, which tracks stocks traded on the Shenzhen and Shanghai exchanges, was up 24% before Chinese markets closed for the National Day holiday.
It’s the biggest rally for Chinese stocks since 2008, after China’s central government unleashed stimulus measures and policy pledges to both jump-start a stumbling post-pandemic Chinese economy and stabilize a property market mired in a yearslong crisis. Beijing’s measures follow months of warnings from analysts and economists that the country needed far more policy support to revive the economy and meet the official growth target of 5%.
