China's stocks were among the first hit by fears of the coronavirus outbrea...
NEW YORK - China’s stocks were among the first hit by fears of the coronavirus outbreak. Some investors are now betting they may be among the first to recover.
U.S. stocks fell again on Thursday, with the S&P 500 dropping 4.4%, confirming a 10% drop from the most recent high and signalling a correction. But China’s CSI 300 index gained 0.3%. “The [U.S.] market was looking for a reason to sell and coronavirus is a pretty significant reason” given its potential to disrupt consumer spending and global supply chains, said Aditya Kapoor, a portfolio manager of the $1.9 billion Ivy Emerging Markets Fund.
The stocks he is bullish on include cloud-based software and after-school education companies that could see a benefit from the quarantines.
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