Chinese Banking Shares Emerge as Havens Amid Global Sector Woes
- China’s CSI 300 Financials Index has gained 0.3% this week
- Stable asset quality, government support aids stocks: analysts
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Immunity from external volatility is benefiting Chinese lenders as investors rush to safety amid a spiraling global banking crisis.
The CSI 300 Financials Index has gained about 0.3% so far this week, beating a more than 3% decline in an index of regional counterparts, while a gauge of US lenders has lost 12%. Gains in state-owned lenders have stood out, with shares of Bank of China Ltd. in Shanghai rising for a fourth day on Thursday, reaching their highest level since July 2020.