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Yet powered by the US tech euphoria, global equities are approaching records, haven assets are out of favor and even neighboring Asian markets are relatively unscathed.
“China seems to be divorced from the rest of the world,” said Steve Sosnick, chief strategist at Interactive Brokers. “Part of the lack of equity response is that the global economy is doing OK without China. The prior reactions occurred when China was a bastion of growth in a shakier world.”
Based on the OI percentage, 72 stocks were on the short-covering list. These included AU Small Finance Bank, ICICI Prudential Life Insurance, Kotak Mahindra Bank, Coromandel International and Navin Fluorine International.