Zero-Covid undermines support for stock market

But the market reaction has been a damp squib as all eyes turn to the effects of zero-Covid.

SHANGHAI: Patience is wearing thin among China’s beleaguered stock investors as worries about the impact of the latest Covid upsurge eclipse promises of official market support.

Authorities have somewhat delivered on last month’s pledges by extending a lifeline to the property sector, committing to ease monetary policy, shelving plans for a real-estate tax, restarting some gaming approvals and removing a key hurdle that threatened to pull American depositary receipts listed in New York.