Chinese stocks shot higher on Friday, amid rumours that the country could begin reopening to the rest of the world early next year and reports that US regulators had completed a review of Chinese audit reports earlier than expected.
The Hang Seng China Enterprises index rose 8 per cent, while the CSI 300 index of Shanghai And Shenzhen listed shares jumped 3.7 per cent. The leap for the China Enterprises index put it on track for its best week since 2015.
Market sentiment was bolstered by rumours circulating on social media that Zeng Guang, the former head of China’s Center for Disease Control and Prevention, had said at a conference held by Citigroup that the country could reopen its border with Hong Kong in early 2023, with more relaxations on international border controls to follow.