Asian stocks soared on Friday, as China cut quarantine restrictions for inbound travelers and flights and softer-than-expected U.S. inflation data fueled hopes the Federal Reserve will ease up on its interest rate increases in the coming months.
China's Shanghai Composite index surged 1.7 percent to 3,087.29 as health authorities announced shortening of the quarantine period for residents and inbound travelers. Authorities also scrapped a penalty on airlines that bring in infected passengers.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.