Many investors say that stocks of drugmakers and medical equipment companies, however, will likely get a more lasting lift from China's bumpy journey towards an eventual economic opening.
Investors have snapped up Chinese tourism (.CSI930633), leisure (.CSI930654), retailing (.CSI930674) and food and beverage stocks (.CSI930653) over the past week.
"After curbs are relaxed, China could experience the impact from surging virus cases, along with rising deaths, potentially hitting the economy," the brokerage said.
"I think it's reasonable to think that as infections rise, they're going to have shortages in some areas of workers," he said.
Grow Investment Group chief economist Hong Hao, warning of confusion and chaotic expectations ahead, recommended internet platform companies and food delivery firms in the short term.