Chinese stocks rally on reopening hopes; Morgan Stanley upgrades to overweight

Chinese stocks rallied after Beijing and Shenzhen said they would lift measures that required commuters to show negative Covid test results before travel.

The Hang Seng TECH index, which represents the 30 largest technology companies listed in Hong Kong, surged 8% in Asia's trade.Bloomberg | Bloomberg | Getty ImagesCovid-related restrictions, a positive sign for an economy that has been grappling with strict virus measures for over two years. The rally comes after Beijing and Shenzhen announced over the weekend they would lift measures that required commuters to show negative Covid test results before travel, despite the recent wave of Covid cases.

The Hang Seng TECH Index, which represents the 30 largest technology companies listed in Hong Kong, surged 8% in Asia's trade.The jump builds on the index's performance so far this quarter, gaining about 20% to date. But it is

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