Chinese stocks shot higher and the renminbi rose to a 12-week high against the dollar on Monday on further signs that Beijing was easing its harsh zero-Covid restrictions and as Morgan Stanley upgraded the country’s equities to overweight.
Hong Kong’s Hang Seng China Enterprises index jumped 5.1 per cent, while the CSI 300 index of Shanghai- and Shenzhen-listed stocks rose 2 per cent.
China’s currency also rallied, with the renminbi rising 1.3 per cent against the greenback to Rmb6.9629 per dollar, the highest level since September.
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