News Snapshot:
Initial optimism over new stimulus measures to boost an ailing economy was tempered by market fears over Beijing’s zero-COVID policy and a potential recovery in cases, as Chinese stocks closed higher after turbulent trade on Thursday. The Shanghai Composite Index climbed 0.4 percent to 3,195.46 points, while the blue-chip CSI300 index increased 0.2 percent to 4,089.57 points. The Hang Seng index dropped 1.0 percent to 21,082.13 points, while the China Enterprises Index dropped 1.1 percent to 7,267.57 points. “The market might see the range-bound performance in June, but we are not pessimistic, the darkest hour has passed.” China’s cabinet announced...
