(Bloomberg) — A bull market has begun in some of China’s old and new economy sectors, indicating investors are seeing an upside to current valuations from President Xi Jinping’s measures to bolster the economy and markets.
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A host of Chinese gauges have rallied more than 20% from their recent lows. The Hang Seng Tech Index became the latest gauge to reach that milestone Tuesday. The ChiNext Index tracking China’s growth stocks did the same Monday, following in the footsteps of the CSI 300 gauges for telecom and info tech, a Goldman Sachs basket of renewable stocks, and MSCI Inc.’s benchmark for materials.
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