Asia stocks hit 4-month high on reopening of Chinese economy

Asian shares rose on Thursday on investor hopes for China’s emergence from the Covid-19 pandemic, while the dollar stayed under pressure even as the US Federal Reserve had a warning against market bets on interest rate cuts this year.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1 per cent to touch a four-month high in morning trade. Japan’s Nikkei bounced off a three-month low.

“China reopening has a big impact…worldwide,” said Joanne Goh, an investment strategist at DBS Bank in Singapore, since it not only spurs tourism and consumption but can ease some of the supply-chain crunches seen during 2022…”

Fidelity China Special Situations PLC (LON:FCSS), the UK’s largest China Investment Trust, capitalises on Fidelity’s extensive, locally-based analyst team to find attractive opportunities in a market too big to ignore.

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