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Chineese COVID situation.
Investors are betting that the easing of COVID restrictions in China will be furious but fleeting. China’s stocks and currencies have jumped and global banks have become more optimistic about its outlook as Beijing moved to a higher zero-COVID policy while slashing virus testing and quarantines after it faced massive anti-lockdown protests. Zhang Kexing, general manager of Beijing Gelei Asset Management, said he has bet big on duty-free shopping, household goods, food and beverages that would benefit from simpler COVID rules, but some of them are just short-term.