Asian stocks closed robustly higher on Monday (30) with gains of more than 2% in some cases, as China’s metropolises resume activities after a period of restrictions linked to the spread of Covid-19 in the country.
Among the Chinese cities that have relaxed rules are Beijing and Shanghai. In the latter, the city government announced an economic recovery plan to complement the reopening, according to state media.
The Shanghai Composite stock index rose 0.60% to 3,149.06 points, and the less comprehensive Shenzhen Composite index was up 1.07% to 1,975.89 points.
In other Asian markets, Hong Kong’s Hang Seng rose 2.06% to 21,123.93 points, while Taiex rose 2.12% in Taiwan to 16,610.62 points.
According to Chinese state media, Shanghai will put in place an economic recovery plan, consisting of 50 “policies or measures”, which includes the resumption of face-to-face work in all sectors, efforts to stabilize the local industrial and supply chain. , reduction of rents, property tax and urban land use tax for “qualified companies”, among other actions.
The measures follow the lifting of restrictions on business activities in Shanghai. In the capital Beijing, consumers returned to frequent stores and malls last Sunday, according to the Associated Press.
In Japan, the Nikkei index gained 2.19% at 27,369.43 points. There, investors heard statements from the president of the Bank of Japan (BoJ), Haruhiko kuroda, who promised to maintain an aggressive monetary accommodation, in order to support the recovery of the Japanese economy.
Among other Asian markets, the South Korean Kospi advanced 1.20%, to 2,669.66 points, supported by shares of companies in the technology, internet and chemical sectors.
In South Korea, the National Assembly approved a supplementary budget of US$49.5 billion to support the country’s economic recovery, international media reported.
In Oceania, the Australian stock exchange also closed with a robust gain, up 1.45% from the S&P/ASX 200 in Sydney, at 7,286.60 points.
Source: CNN Brasil
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