Holiday rebound propels Chinese stocks to near bull market

Workers wait at a train station in Chongqing on January 30, 2023 for the train to take them to work in Guangzhou. This is the first chartered train this year that brings workers from Chongqing to work in other places of the country. Photo: Xinhua News Agency

Chinese mainland stocks mounted a remarkable rally on Monday, the first trading day of the year of the Rabbit, with a benchmark surging to a near bull market, despite a pullback later in the session, as market sentiments are evidently buoyed by a better-than-expected travel and spending spree during the Spring Festival holidays.