The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
grocery-2-aa
Economic Updates
Inflation Update: Prices rise even slower in May 
DOWNLOAD
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
grocery-2-aa
Economic Updates
Inflation Update: Prices rise even slower in May 
June 5, 2025 DOWNLOAD
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
May 29, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
View all Reports
Currencies 3 MIN READ

China stocks, yuan soar on easing COVID rules, global rally

November 11, 2022By Reuters
Related Articles
Oil prices ease to trade near 2-month lows on China demand fears, dollar strength November 21, 2022 Dollar rises amid suspected BOJ intervention; pound choppy October 24, 2022 Oil gains 1% after U.S. crude stocks signal tighter supply May 4, 2022

SHANGHAI, Nov 11 (Reuters) – Chinese stocks and currency surged on Friday, after the country’s health authorities eased some of their stringent COVID-19 curbs, while strong Wall Street gains overnight also boosted sentiment and lifted other Asian markets.

The bluechip CSI 300 Index closed up 2.8%, and the Hang Seng Index jumped 7.7%, its biggest daily gain since March, with property and tech stocks leading gains.

The onshore yuan also strengthened as high as 7.0650 per dollar, its strongest level since Sept. 22.

China’s National Health Commission (NHC) shortened quarantine times for close contacts of cases and inbound travellers, removed a penalty on airlines that bring in infected passengers and eased other anti-virus measures.

“The stock market responded positively, reflecting the expectation of gradual relaxing of the COVID restriction in the coming months,” Hang Seng Bank (China) chief economist Dan Wang said.

Foreign investors bought net 14.6 billion yuan (USD 2.1 billion) worth of Chinese shares via the Stock Connect Scheme, the biggest amount in two months.

“Any change in the future regarding COVID control will continue to be gradual and marginal unless effective vaccination and treatment drugs become widely available,” Wang said.

The rally in China’s markets mirrored broad regional gains, after a smaller-than-expected increase in U.S. consumer prices fuelled hopes that the Federal Reserve could tone down its aggressive pace of interest rate hikes.

The relaxation comes after China’s new top leadership body reaffirmed Beijing’s “dynamic-zero” COVID-19 policy on Thursday.

The easing in curbs came even as infections hit their highest since this year’s Shanghai lockdown.

“These policies indicate the government intends to move toward reopening the economy, though the exact schedule is still not clear at this stage,” said Pinpoint Asset Management chief economist Zhang Zhiwei.

“Reopening is likely to be a long process,” Zhang said. “Nonetheless this is an important step in the right direction.”

Citi analysts said local governments’ responses are the next key watch point. “Since COVID prevention is often overdone at a local level, a correction in implementation will be a de facto easing.”

Hong Kong-listed tech giants surged 10%, tracking a 7.6% overnight jump in the Nasdaq Golden Dragon China Index.

Property developers rallied nearly 10% in the mainland by their daily limit of gains, and their Hong Kong traded peers jumped 12.8%, amid the country’s latest measures to support the crisis-ridden sector.

The policies “are fueling bets that those on the edge of bankruptcy have a chance to survive,” Guangzhou Zeyuan Investment hedge fund manager Zhong Daqi said.

Central bank data on Thursday showed China’s new bank lending fell sharply in October, far below expectations in a Reuters poll.

The weak data might fuel expectations of more monetary easing, GF Securities analysts said.

For the week, China’s CSI 300 Index edged up 0.6%, while Hong Kong’s Hang Seng benchmark .HSI climbed 7.2%.

 

 

(Reporting by Shanghai Newsroom; Editing by Shri Navaratnam, Sam Holmes and Rashmi Aich)

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up