Asian stocks close higher after China announces further easing of restrictions

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Asian stocks closed higher on Tuesday (28), after China announced a new relaxation of measures against Covid-19, improving its outlook for economic recovery.

Among Chinese markets, the Shanghai Composite index rose 0.89% today to 3,409.21 points, and the less comprehensive Shenzhen Composite index rose 1.21% to 2,243.92 points.

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Elsewhere in Asia, Japan’s Nikkei gained 0.66% in Tokyo, at 27,049.47 points, while the Hang Seng gained 0.85% in Hong Kong, at 22,418.97 points, and the South Korean Kospi advanced 0.84% ​​in Seoul, at 2,422.09 points.

Exception in the region, the Taiex fell 0.70% in Taiwan, at 15,439.92 points.

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The risk appetite came after China relaxed quarantine requirements for foreign travelers in a bid to balance its “zero tolerance” policy against Covid-19 and amid mounting pressures facing the world’s second-largest economy.

In an interview with state broadcaster CGTNthe chairman of the People’s Bank of China (PBoC), Yi Gang, promised to maintain an accommodative monetary policy to support the country’s recovery, which has the ambitious goal of growing 5.5% this year.

In Oceania, the Australian stock exchange was in the blue for the fourth consecutive trading session, thanks to the good performance of stocks linked to commodities. The S&P/ASX 200 gained 0.86% in Sydney at 6,763.60 points.

Source: CNN Brasil

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