News Snapshot:
Foreign investors have barely begun buying back beaten-down stocks in China, but there are growing signs that the end of the country’s tough COVID-zero policy marks the beginning of a long global march back into Chinese equities. December’s sudden shift from tight health restrictions to almost none at all by January has unleashed a wave of infections that have overwhelmed health officials and surprised financial markets, which had expected a slower transition. MSCI China has gained a staggering 50% since November, when hopes of reopening first emerged, while Hong Kong’s Hang Seng Index is up 47%, against roughly 6% gains...
