China braced for a “new phase” in its battle against COVID-19 on Monday and financial markets strengthened after Beijing dropped pandemic border controls in the latest easing of curbs that has let the virus loose on its 1.4 billion population.
Shrugging off gloomy forecasts, investors are betting that China’s reopening will help revive the $17 trillion economy and bolster the outlook for global growth.
Those hopes lifted Asian shares to a five-month high on Monday while China’s yuan firmed to its strongest level against the dollar since mid-August. Chinese blue chips added 0.4%, while Hong Kong shares climbed 1.4%.
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.