Delivery drivers pass through a security checkpoint as several city blocks are sealed off due to Covid-19 in the Meilong township of Shanghai, China, on Aug. 15. Photographer: Qilai Shen/Bloomberg China is ramping up efforts to revive its economy and boost market confidence. But, stock investors preoccupied with the damage inflicted by the nation’s strict Covid-Zero strategy aren’t buying it. A gauge of Chinese equities listed in Hong Kong is one of the world’s worst-performing major benchmarks this year, while the MSCI China Index is trading near the lowest level versus its global peers since 2005. Investors from abrdn to BNP Paribas Asset Management remain concerned that Beijing isn’t doing enough to boost corporate profitability as more Covid outbreaks raise the specter of lockdowns. An earlier market rebound has petered out even after authorities slashed borrowing costs, threw a lifeline to embattled developers and unleashed measures to shore up […]