Chinese Stocks Surge As Investors Bet On Economic Turnaround: 7 ETFs To Watch [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
of the year, reviving investor bets on the beginning of a more serious and robust recovery On Tuesday (May 7), the SSE Composite Index, which includes all stocks listed on the Shanghai Stock Exchange , reached its highest level since September 2023, showcasing a rally of about 19% from the lows in 2024. The revival in Chinese stocks can be attributed to a confluence of factors. Key among these is the country's economic recovery, which has gathered pace after years of turbulence following the bursting of a real estate bubble. China's economy expanded by 5.3% in the first quarter year-over-year. This growth rate not only outpaced the previous quarter's 5.2% but also exceeded the 5% growth expected by analysts. Surveys on private sector economic activity showed signs of strength in April 2024, with the Caixin Services PMI marking the highest level since May 2023 and the manufacturing PMI also notching expansionary conditions. Additionally, technical factors such as the massive
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