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Chinese Stocks Achieve Best Growth Streak Since 2020

The Chinese stock market continued its ascent for the eighth consecutive session, buoyed by government support measures, according to Bloomberg.

On Thursday, the CSI 300 index closed up by 0.9%, marking the longest period of growth since July 2020. The Hang Seng China Enterprises Index, a gauge of Chinese stocks listed in Hong Kong, jumped by approximately 2%.

Meanwhile, Beijing is employing a broad array of policy levers to influence the economy, including restrictions on net selling of stocks to rejuvenate the $8.7 trillion stock market, as well as purchases of shares by state funds and tightening quantitative trading.

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However, the ongoing growth could wane if state support diminishes, making it more akin to a technical rally.

In any case, the market’s long-term trajectory will be determined by fundamental factors rather than technical changes.

— This summary was prepared using materials from Bloomberg

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