Clocktower's chief strategist says Chinese stocks will likely rally 10% to 15% from here

Chinese stocks are predicted to rise by at least 10% in the coming days as authorities indicate their support. The boost is attributed to Chinese President Xi Jinping receiving a briefing from financial regulators regarding the stock market’s recent sell-off. The Chinese securities regulator has been actively making statements to reassure investors. Analysts suggest that a 10% to 15% rally in Chinese equities is likely. However, there are concerns that the rally could be short-lived and followed by further declines. Chinese stocks have experienced losses since the beginning of this year.