Chinese assets showed impressive resilience this week, defying a global pullback in risk appetite and signaling growing investor confidence in the world’s second-largest economy.
The country’s stocks are close to the highest in almost four years, shrugging off the worst decline on Wall Street in a month amid concerns over technology firms’ frothy valuations. The yuan is around its strongest level since April against key trading partners’ currencies, while Beijing raised $4 billion via a sovereign dollar bond at essentially the same borrowing costs as the US.