MSCI China Stocks Gauge Erases 2023 Gains After Reopening Rally

A key gauge of Chinese stocks erased all its gains for the year, weighed down by uncertainty about the economic outlook and a lack of fresh catalysts from the ongoing National People’s Congress.

The MSCI China index fell as much as 2.5% on Friday to its lowest since Dec. 22, as technology and financial stocks led the declines. The gauge is down nearly 17% from this year’s peak in late January.

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