Asian stocks close mostly higher, with China in focus

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Asian stock markets had a generally positive trading session this Friday (4th). New speculation that China may relax its stricter policy against Covid-19, which weighs on local activity, has taken a toll on business.

On the Tokyo Stock Exchange, however, the day was negative, with technology balances in focus.

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The Shanghai Stock Exchange closed up 2.43%, at 3,070.80 points, recovering all its losses from the last two weeks, and the smaller Shenzhen Stock Exchange, up 2.68%, to 2,113.53 points.

On the news, the Bloomberg reported, from sources, that Beijing may relax restrictions for airlines in the fight against Covid-19.

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In addition, the same agency said U.S. audit officials completed a first round of on-the-spot inspections of Chinese companies ahead of schedule, according to sources, which was seen as a sign of progress in the process to prevent the exit of hundreds of shares of companies in the Asian country of the American stock exchanges.

Among airlines in Shanghai, Air China rose 5.7%, while in another segment China Tourism Group Duty Free gained 7.9%.

In Hong Kong, the Hang Seng index closed up 5.36%, at 16,161.14 points. In this case, there was also a recovery from losses of the last two weeks, with the news of China’s policies against covid-19 in focus.

In South Korea, the Kospi index registered a gain of 0.83% to 2,348.43 on the Seoul Stock Exchange, ending the day’s high. Cosmetic companies, fintechs and companies in the airline sector pulled the gains. In Taiwan, the Taiex index ended up 0.31% at 13,026.71 points.

On the Tokyo Stock Exchange, the Nikkei index went against the majority and dropped 1.68%, to 27,199.74 points. Tech stocks have been under pressure amid modest earnings in Japan.

In Oceania, on the Sydney Stock Exchange, the S&P/ASX 200 index ended up 0.50%, at 6,892.50 points, recovering from losses in the previous session and managing to register a gain in the week.

Stocks linked to commodities led the movement, with higher prices for iron ore.

Source: CNN Brasil

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