The hope of faster easing of China’s strict restrictions rises after official says policy will be fine-tuned to reduce effect of zero-Covid policy
An employee passes share price information displayed on an electronic ticker board inside the London Stock Exchange Group Plc's offices in London, UK. File photo: BLOOMBERG/LUKE MACGREGORStocks and oil gained on Tuesday on hopes that public unrest in China might prompt an earlier loosening of Covid-19 curbs in the world’s biggest economy, with the yuan up and the dollar down as investor appetite for riskier assets grew.
Simmering discontent with Beijing’s stringent Covid prevention policies three years into the pandemic ignited at the weekend into broader protests in Chinese cities thousands of miles apart. US crude futures bounced $1.53 to $78.78 a barrel, having hit their lowest this year overnight, while Brent climbed $1.83 to $85.12.
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