China Eases Covid Restrictions

China eased COVID restrictions on Friday as newly appointed leaders in the Politburo Standing Committee set new rules to minimize its impact on the economy. Hong Kong’s benchmark Hang Seng Rose 7.7 percent, and the Shanghai Composite closed 1.7 percent higher on Friday. China’s CSI 300 gauge of the largest mainland-listed stocks rose 2.8%, and U.S.-listed China stocks also gained. The Chinese online travel agency Trip.com ($TCOM@China) reported that bookings doubled on Friday compared to the same period on Thursday.