(Bloomberg) — Chinese stocks are expected to open strong after the Lunar New Year break, with positive travel and tourism data providing relief to one of the world’s worst-performing major markets. With mainland China closed for trading from Feb. 9-16, investors will likely look to gains in offshore-listed Chinese shares for direction. Hong Kong stocks rallied nearly 5% and the Nasdaq Golden Dragon China Index jumped 4.3% for the week, indicating potential for onshore shares to catch up. Spending patterns during the holiday season suggest increased consumption despite economic challenges. Market watchers anticipate the positive data to boost equities in the short term.
2024-02-17 20:52:29
Original from finance.yahoo.com