Politburo Promises Trigger Another Raucous China Rally
For the second time in six weeks, officials in Beijing managed to engineer a rally in both Mainland and Hong Kong shares with promises to support markets and the economy.
Sentiment turned bleak this month and volatility in the currency added to market angst. An inflexible approach to combatting local COVID outbreaks exacerbated investor consternation.
Allusions to additional stimulus bolstered markets in the lead up to Friday's pre-holiday session, when the Politburo doubled down on familiar r
Chinese politics is reality vs hubris, and the CCP places its bets on hubris.
That list of CCP priorities and platitudes is laughable, but there was also some statement about (supposedly) ending the crack down on tech, and perhaps some domestic institutions were encouraged to do some patriotically price-insensitive buying like STAT.
All those words from the Politburo, and nary a “transitory.”