China’s Covid Shift Adds Fuel to World-Beating Stock Rally

China’s move to cut its quarantine period to 10 days from three weeks for inbound travelers shows authorities’ increasing concern about the economic toll from stringent virus restrictions

(Bloomberg) — Chinese shares rallied ever closer to a bull market after Beijing unexpectedly halved the mandatory quarantine period, boosting optimism of a shift away from the “zero-Covid” policy that has clouded the outlook for investors.

The CSI 300 Index closed 1% higher Tuesday, taking the gauge from an April low to a 19% gain — among the best-performing major benchmarks in the world during that period. Hong Kong’s Hang Seng Index erased an earlier loss to close 0.9% higher. Currencies strengthened in Thailand and Australia — countries that count on China for tourists and trade.