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China’s Shock Covid Shift Adds Fuel to World-Beating Stock Rally

  • Traders eye bull market as CSI300 near 20% gain from April low
  • China stocks have outperformed global peers on policy bets
Updated on

Chinese shares rallied ever closer to a bull market after Beijing unexpectedly halved the mandatory quarantine period, boosting optimism of a shift away from the government’s Covid Zero policy that has clouded the outlook for investors.

The CSI 300 Index closed 1% higher Tuesday, taking the gauge from an April low to a 19% gain -- among the best-performing major benchmarks in the world during that period. Hong Kong’s Hang Seng Index erased an earlier loss to close 0.9% higher. Currencies strengthened in Thailand and Australia -- countries that count on China for tourists and trade.