Bbg: China Stocks Powering Ahead

China Stocks Power Ahead as Losses in Global Equities Deepen

CSI 300 rises more than 1%, extending gains amid global rout
China data beat estimates; PBOC keeps key interest rate steady

ByJohn Cheng and Jeanny Yu
June 15, 2022, 3:19 AM UTC

Chinese stocks rallied to their highest in more than two months, extending a recent outperformance over global peers, as the country’s growth-focused policy lures investors seeking a reprieve from aggressive monetary tightening in the US and elsewhere.

The benchmark CSI 300 Index jumped as much as 1.5% on Wednesday, taking its gains in June to more than 4% amid a global sea of red. The S&P 500 Index plunged into a bear market as did a key MSCI Inc. index of world equities, with traders anticipating a 75-basis-points rate hike by the Federal Reserve later today.