China’s surprise stock surge catches Wall Street flat-footed

Quick Summary:

Global investors, who have been shorting China, now must scramble to rebalance their portfolios to a more rational level’, analyst says.

The conviction to short China amid a deflating economy has caused a “massive squeeze” amid the unexpected stimulus-induced rally, Hartnett said in a note to clients over the weekend.

UBS, meanwhile, bumped its year-end target for the benchmark Hang Seng Index up by 7 per cent to 22,100.

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Article Details

Author / Journalist: Jiaxing Li

Category: Business

Markets: Hong KongChinaJapan

Topics: Rally Street Cent Clients Year-end Stimulus Stocks Note Target China Wall

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-02 @ 07:30:08 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 196 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22843827

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