What a difference a week makes. The Chinese government’s latest efforts to jolt the economy out of its doldrums with a big new round of stimulus programs has gotten through to the Chinese stock markets over the last few days as pretty much everything romped. Chinese markets were closed Tuesday and for the rest of the Golden Week holiday.
But mainland indexes like the CSI 300 are up roughly 25% over the last week. It’s a remarkable turnaround for Chinese stocks which were laggards of other major markets for most of the year, as investors looked at what seemed to be a downright unappetizing economic backdrop in the world’s second largest economy.
Now, year-to-date gains of roughly 18% — in dollar terms — put the CSI right behind the S&P 500 in terms of select big markets.
