They're saying if the U.S. stock markets have the Fed, Chinese stock markets have state-owned media. After various news outlets encouraged investors to buy equities this week, indices roared higher and yield on government debt surged the most since January. There were also zero new COVID-19 cases reported in the capital Beijing on Tuesday, the location of the recent outbreaks. The Shanghai Composite index, firmly in bull market territory, closed almost 6% higher yesterday and today rose for the fifth trading day in a row. It's currently at its highest level since February 2018.
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