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SHANGHAI: Hong Kong stocks jumped and China shares hit a near four-month high on Tuesday, after the quarantine time for inbound travellers was cut by half in a major easing of one of the world’s strictest COVID-19 curbs.

The blue-chip CSI300 index rose 1.0% to 4,490.52, while the Shanghai Composite index gained 0.9% to 3,409.21 points. Both indexes closed at their highest levels since March 4.

The Hang Seng index rose 0.9% to 22,418.97, while the China Enterprises index was up 1% at 7,893.76 points.

Quarantine at centralised facilities in China has been cut to seven days from 14, and subsequent at-home health monitoring has been reduced to three days from seven, the National Health Commission said. Meanwhile, the Walt Disney Co’s Shanghai Disney resort said it would reopen the Disneyland theme park on June 30.

Also boosting sentiment, a state planner official said China will roll out tools in its policy reserve in a timely way to cope with economic challenges, as COVID-19 outbreaks and risks from the Ukraine crisis pose a threat to employment and price stability.

Tourism-related companies jumped 5.5%, while gambling shares soared 10% to lead the gains.

Shanghai International Airport Co added 8.5% in Shanghai, while Trip.com surged 16.5% and Wynn Macau jumped 12.8% in Hong Kong.

US President Joe Biden and Chinese President Xi Jinping are expected to speak in the next few weeks, US national security adviser Jake Sullivan said, citing growing convergence among NATO and G7 members about the challenge China poses.

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