China's market rebound fails to reassure skeptics

Foreign investors remained haunted by previous losses, analysts say

The recent uptick in mainland Chinese stocks and currency has not convinced many investors who have lost quite a bit in recent years. © AP

ECHO WONG and KENJI KAWASE, Nikkei staff writers

November 22, 2023 19:45 JST

HONG KONG -- China's stock market and currency have both gained in recent days, raising hopes that the worst might be over for investors after months of disappointment with the pace of the nation's recovery from its long COVID-19 lockdown.

Analysts attribute the advance to new signs of government support for the nation's beleaguered property sector and improving corporate earnings, but their enthusiasm has been tempered by the lack of foreign interest in Chinese shares.