(Bloomberg) — When the week started, JPMorgan Chase & Co. analysts warned that China’s internet stocks were “uninvestable.” The world is in a different place now.
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Following a string of dramatic interventions by Beijing, the worst selloff in Chinese markets since 2008 turned into a historic surge, catapulting the country’s U.S.-listed technology firms into a rebound not seen before. For investors who’ve been burned many times by abrupt somersaults in government policy, the question is whether the rally will hold, turning the world’s second-biggest economy into a haven for traders and a life-raft for global output amid concerns over a broad slowdown.
The best answer from strategists is: It could.
Even the perpetually pessimistic Bank of America Corp. team said Friday that China’s “verbal intervention” could become a “bull driver” for a spring…
