(MENAFN- Baystreet.ca) H-K Scraps COVID Restrictions, Asia Mostly Higher






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Asia-Pacific shares opened in positive territory as investors look ahead to a highly anticipated Federal Reserve meeting and U.S. CPI data reading.
In Japan, the Nikkei 225 recovered 112.52 points, or 0.4%, to 27,954.85.
In Hong Kong, the Hang Seng restocked 132.57 points, or 0.7%, to 19,596.20, after Chief Executive John Lee announced further easing of COVID restrictions.
Hong Kong will release its industrial production data for the third quarter, and the Bank of Korea will also post minutes from its November meeting.
Additionally, people in Hong Kong will no longer be required to use the COVID contact tracing app, LeaveHomeSafe. However, they may still need to show proof of vaccination at certain premises like eating establishments.
The amber code on international arrivals will also be removed, with Lee saying that the risk brought in by imported cases is“lower” than the risk of local infection. The red code denoting a COVID-positive patient and blue code for a negative result will still be in place.
Hong Kong-listed travel stocks rose, with Cathay Pacific climbing 2.9%, China Eastern Airlines adding 2%, and Air China up 2.6%.
Australian business sentiment fell into negative territory for the first time since December last year.
National Australia Bank's monthly survey results shed four points to slide below 0 at -4 index points. The fall was led by declines in confidence in the manufacturing, construction and retail sectors.
In other markets
In Shanghai, the CSI 300 settled 7.76 points, or 0.2%, to 3,945.68.
In Taiwan, the Taiex dropped 89.63 points, or 0.6%, to 14,522.96
In Korea, the Kospi index let go of 0.62 points, or 0.7%, to 2,372.40.
In Singapore, the Straits Times Index restored 31.62 points, or 1%, to 3,271.40.
In Australia, the ASX 200 gained 22.44 points, or 0.3%, to 7,203.27.
In New Zealand, the NZX 50 jumped 94.97 points, or 0.8%, to 11,506.45.

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