Global investors scale back bets on China's state-owned companies

 

Global investors scale back bets on China's state-owned companies

HONG KONG -- Until recently, global investors had been gravitating to the shares of Chinese state-owned enterprises in the belief that the companies were their best hope during the uncertain period that followed the relaxation of COVID-19 restrictions.
 
But the strategy has run out of steam in recent weeks as the economic news coming out of the Asian giant has grown more dismal and key indexes have fallen.