By Kristina Hooper, Chief Global Market Strategist
Weekly Market Compass: China's ability to contain COVID-19 boosts longer-term confidence
Last week, we saw increases in both the Chinese and US stock markets. But that's where the similarities end - there is currently a meaningful difference in market confidence for the prospects for longer-term economic recovery.
Government support and COVID containment help boost Chinese stocks
The Shanghai Composite Index rose 7.3% last week (despite a drop on Friday), capping off a more than 13% increase since the start of July.1 Chinese stocks were helped by government