China coronavirus: Greater China stock benchmarks converge as correlations rise to multi-month highs

• The 120-day correlation between the Shanghai Composite Index and the Hang Seng Index has risen to its highest since September, while it is at a 12-month high for the Shanghai Composite and Taiwan’s Taiex index
• The convergence indicates that investors in Hong Kong and Taiwan will probably need to look more to the yuan-denominated market for clues on Beijing’s willingness to revive economic growth and the fallout of the unprecedented Shanghai lockdown