Hong Kong stocks close up 7.7% as China relaxes curbs

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Hong Kong stocks surged over 7.7% today as investors took heart from the double whammy of lower US inflation data and Beijing announcing a slight relaxation to its hardline Covid-19 restrictions.

The exchange's China Enterprises Index, which lists major mainland companies, closed even higher, up 8.31%.

Top leaders had pledged to stick"unswervingly" to the policy, which has forced business closures, roiled international supply chains and weighed heavily on growth. Inbound arrivals will still be required to undergo six nucleic acid tests and will not be allowed to freely set foot outside during those eight days, the notice says.

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