Mysterious screenshot spurs a US$450bil rally

Screenshot claims China’s No. 4 official Wang Huning held a meeting of Covid-19 experts at the request of President Xi Jinping.

BEIJING: Nobody is quite sure who wrote it, when it was written or if it’s even true. But a screenshot of four paragraphs detailing a China reopening plan was enough for traders to scoop up stocks for two days running.

The unverified post, which contained black characters on a white background with no identifying marks, first began circulating on Monday night in WeChat social messaging groups filled with analysts and fund managers, according to accounts by a dozen investors who asked not to be identified.