(Bloomberg) — Chinese stocks climbed as onshore markets reopened after the Lunar New Year holidays, with traders weighing buoyant travel and spending data against broader caution toward the economy.
Most Read from Bloomberg
The benchmark CSI 300 Index advanced 0.8% as of 2:30 p.m. local time on Monday, its first trading session following the Feb. 9-16 break. A gauge of stocks in Hong Kong had gained nearly 5% in three sessions since it reopened on Wednesday while the Nasdaq Golden Dragon China Index jumped 4.3% last week.
Monday’s modest gains show that doubts run deep over the China market’s longer-term prospects as the economy struggles with deflation and a property crisis. Investors were expecting a rally onshore after state media reported that about 474 million domestic tourist trips were made during the eight-day holiday, up 19% from the same period in 2019 before the…
