China Stocks Primed for Bullish Open After Upbeat Holiday Data
Chinese stocks look poised for a strong open when onshore traders return from the Lunar New Year break, with buoyant travel and tourism data seen bringing a much-needed relief to one of the world’s worst-performing major markets.
With trading in mainland China shut Feb. 9-16, investors will likely take cues from gains seen for the country’s shares listed offshore. A gauge of stocks in Hong Kong rallied nearly 5% since it reopened on Wednesday while the Nasdaq Golden Dragon China Index jumped 4.3% for the week, underscoring room for onshore shares to play catch-up.
