Hong Kong stocks surged today as investors took heart from the double whammy of lower US inflation data and Beijing announcing a slight relaxation to its hardline Covid-19 restrictions.
The Hang Seng Index closed up 7.74%, or 1,244 points, at 17,325.
The exchange's China Enterprises Index, which lists major mainland companies, closed even higher, up 8.31%.
China announced the relaxation of some of its hardline Covid-19 restrictions after authorities had vowed to stick to a zero-tolerance virus approach despite mounting economic damage.
The country is the last major economy welded to a strategy of stamping out virus flare-ups as they occur, through a combination of snap lockdowns, mass testing and lengthy quarantines.
Top leaders had pledged to stick "unswervingly" to the policy, which has forced business closures, roiled international supply chains and weighed heavily on growth.
But a notice from the country's disease control agency said the Politburo Standing Committee - the apex of power in China - met yesterday to rubberstamp limited relaxations.
According to the notice, the quarantine period for inbound travellers will be cut from 10 days to eight, consisting of five days in a state isolation centre and three days at home.
Inbound arrivals will still be required to undergo six nucleic acid tests and will not be allowed to freely set foot outside during those eight days, the notice says.
It adds that travellers will only be required to show one negative Covid test within 48 hours of boarding flights to China, a reduction from the current two tests.
The new rules single out "important business personnel" and "sports groups" as examples of privileged groups permitted to skip quarantine as long as they remain in a virus-secure "closed loop" for the duration of their stays.
It added that a so-called "circuit breaker" mechanism on inbound flights would be abolished, bringing an end to a policy that saw the snap closures of flight routes if a certain proportion of passengers tested positive for the virus.
In further signs of easing, the notice did away with the requirement to identify and isolate "secondary close contacts" -- those who may have come into contact with people who recently passed near infected people.