China stocks bounced off 10-month lows on Friday on hopes of improving growth, but seven consecutive weeks of foreign outflows underscored lingering economic and geopolitical concerns toward the country. Hong Kong stocks also rebounded amid buoyant Asian markets.
China’s bluechip CSI300 Index rose 1% by the lunch break, after touching the lowest level since Nov. 4, 2022. The Shanghai Composite Index was up 0.8% and Hong Kong’s Hang Seng benchmark gained 1.2%.
China stocks gave up all the gains from the rally triggered by Beijing’s Aug. 28 stamp duty cut, but some see support from signs of economic improvement.
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.