Asian stock markets rise on news from China

Asian stocks rose after China formally announced it would end quarantines for incoming travelers on Jan. 8. Stocks in Asia rose after China formally announced it would end quarantines for incoming travelers on Jan. 8, marking the end of a nearly three-year zero-Covid policy. Health officials said the country had downgraded Covid from its current top-tier Category A to a less stringent Category B. The Shanghai Composite rose 0.64 percent and the Shenzhen Composite rose 0.85 percent, while markets in Hong Kong, Australia and New Zealand were closed for the Christmas holiday. Japan’s Nikkei 225 rose 0.32 percent and the Topix rose 0.5 percent, as retail sales in the country rose for a ninth straight month, led by tourism. South Korea’s Kospi rose 0.78 percent and the Kosdaq rose 0.77 percent.