“The robust trading volumes reflects global investors managing their China exposure and positioning themselves before the cash market reopens,” said Ding Meiyan, head of equity-derivatives product management at SGX Group.
The China A50 Index closed at its highest level since January 2023 on Sept 30, following its best day in almost 16 years after the nation announced a series of measures to boost its economy. Since then, traders have used instruments around the world as China proxies before the market resumes trading on Tuesday.
While many global fund managers and strategists remain skeptical about the rally, the Hang Seng China Enterprises Index in Hong Kong has climbed 11% this month and is trading at its highest level since February 2022.
