$CNBC: Honk Kong Index Jumps 7% - China eases Covid measures, trims quarantine time by two days

:pushpin: Instead of making travelers stay at a centralized quarantine facility for seven days upon arrival in the country, the new rules stipulate a five day quarantine, followed by three days of home observation, according to state media.

:pushpin: The new timeframe also applied to close contacts of Covid infections within China, the report said.

:pushpin: The number of Covid infections nationwide has surged in the last several days to the highest in about half a year.

Shortly after the announcement, the Hang Seng index soared and was up 7%, building on an earlier rally that followed U.S. data indicating relief from a recent surge in inflation.

Travel-related stocks saw a boost, with China Eastern Airlines climbing 6% and Cathay Pacific gaining almost 3% in the afternoon session.

Casino operators MGM China, Wynn Macau and Sands China all saw shares gain around 8%.

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