Shares soared more than 7% in Hong Kong on Friday after a Communist Party newspaper reported that local officials were being urged not to impose overly burdensome controls to curb coronavirus infections.
The Shanghai Composite index jumped 2.6% as sentiment also was buoyed by an article in the party newspaper People’s Daily by China’s former top trade envoy, Liu He, who said the country would continue its market reforms. He appeared to be seeking to allay concerns after Liu and some other prominent reformers were dropped from the top ranks of leadership at a party congress last month.
