Hong Kong stocks rose by more than 3 per cent on Tuesday afternoon following news of Shanghai authorities saying that the locked-down city will gradually reopen businesses.The mainland's two indices, the Shanghai Composite Index and Shenzhen Composite Index, traded up, while Manila, Singapore and Seoul showed positive gains through Tuesday despite the lukewarm lead from Wall Street the day before.
Hong Kong's positive showing on Tuesday came after a tumultuous few weeks, in which markets were roiled by fears of surging inflation, prolonged China lockdowns to stamp out COVID-19, and Russia's war in Ukraine impacting crude prices.
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