China state giants the only stock winners in a divided market
Their outperformance is being driven by government policy while the rest of the market struggles
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Hong Kong
IN CHINA'S struggling stock market, it's easy to pick a winner. Back the state.
The SSE 50 Index comprising some of China's largest companies has surged 6.4 per cent in the past month, climbing to its highest level versus the broader Shanghai Composite Index in four years. Outside of the state giants, the rest of the market looks blighted: more companies on the Shanghai measure were at 52-week lows last week than at any time since 2013.
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