Hu Xijin, a commentator at the highly-influential Chinese state media, Global Times, tweeted on Thursday, “Guangzhou has announced the lifting of all lockdowns. Beijing has been gradually lifting lockdowns over the past few days. Vice Premier Sun Chunlan on Wed formally noted the virus' weakening pathogenicity for the first time...China is speeding up to cast aside large-scale lockdowns.”

Market reaction

Risk sentiment remains lifted on China’s reopening optimism, with Hu’s tweet adding credence to the recent specutions of Beijing softening its stance on the zero-Covid policy. The US S&P 500 futures rise 0.16% on the day while the AUD/USD extends gains above 0.6800 in Thursday’s trading so far.