Chinese stocks experienced a remarkable rally over the past month, with the CSI 300 Index surging 23% and the Hang Seng Index gaining 12%. This surge was primarily driven by renewed optimism and expectations of policy support from the Chinese government.
On September 24th, China announced a surprise stimulus package aimed at stabilizing the stock and housing markets. This move was seen as a turning point, prompting global investment firms and fund managers to view Chinese stocks as "attractive" and "compelling" investment opportunities.
However, the lack of details regarding the specifics of the stimulus package and structural reforms has led to some uncertainty. Market participants are eagerly awaiting more concrete plans from the standing committee meeting of the National People's Congress, expected in late October or early November.
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