China said it would scrap mandatory quarantine on arrival, further unwinding years of strict virus controls.BEIJING - Asian markets rose on Tuesday after China said it would end quarantine for arrivals, spurring hopes for the revival of the world's second-largest economy and boosting oil which continued its upward surge on fears of Russian production cuts.
The curbs had torpedoed the economy and sparked nationwide protests. The latest easing will see three years of border controls end on January 8 when Beijing downgrades Covid-19 to a Class B infectious disease, ending mandatory quarantine for overseas arrivals. Tokyo, Seoul, Shanghai and Singapore were all higher while markets in Hong Kong and Sydney were still closed for the Christmas break.
Production was also curtailed by freezing conditions in the United States, where more than 1.8 million barrels a day of oil processing capacity in Texas was hit by extreme weather, Bloomberg News reported.
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