World shares rise as investors hope for China’s zero-Covid policy easing

World shares were higher on Friday, led by gains in Chinese markets as investors grasped at hopes for an easing of the country’s stringent pandemic controls.
Hong Kong’s benchmark soared more than 7 per cent but then fell back, gaining 5.4 per cent after a Communist Party newspaper, the Global Times, reported that local officials were being told not to impose overly burdensome restrictions to curb coronavirus infections.
The Shanghai Composite index also jumped, gaining 2.4 per cent as sentiment was buoyed by an article in the party newspaper People’s Daily by China’s former top trade envoy, Liu He, who said the country would continue its market reforms.
He appeared to be seeking to allay concerns after Liu and some other prominent reformers were dropped from the top ranks of leadership at a party congress last month.
European benchmarks were also higher in early trading. France’s CAC 40 added 0.9 per cent to 6,299.09. Germany’s DAX rose 07 per cent to 13,216.27.
Britain’s FTSE 10 World shares were higher on Friday, led by gains in Chinese markets as investors grasped at hopes for an easing of the country’s stringent pandemic controls.
Hong Kong’s benchmark soared more than 7 per cent but then fell back, gaining 5.4 per cent after a Communist Party newspaper, the Global Times, reported that local officials were being told not to impose overly burdensome restrictions to curb coronavirus infections.
The Shanghai Composite index also jumped, gaining 2.4 per cent as sentiment was buoyed by an article in the party newspaper People’s Daily by China’s former top trade envoy, Liu He, who said the country would continue its market reforms.
He appeared to be seeking to allay concerns after Liu and some other prominent reformers were dropped from the top ranks of leadership at a party congress last month.
European benchmarks were also higher in early trading. France’s CAC 40 added 0.9 per cent to 6,299.09. Germany’s DAX rose 07 per cent to 13,216.27.
Britain’s FTSE 10