China stocks rally on signs of Beijing COVID shift

Investors react to comments on new situation in handling of pandemic

China stock indexes displayed on Nov. 29. Markets rallied on Dec. 1 after signs of a softer "zero-COVID" stance in the country. (File photo by Getty Images) © Getty Images

ECHO WONG, Nikkei staff writer

December 1, 2022 13:03 JST

HONG KONG -- Chinese markets surged on Thursday after a senior official spoke of a "new situation" that suggested the country might soften its strict zero-COVID policy, following the relaxation of some measures in a city battling thousands of infections.

Mainland indexes opened higher on Thursday morning. The CSI300 climbed 1.78%, and the SZSE Component Index and the SSE Composite Index traded 1.66% and 1.04% higher.