Shanghai lifts restrictions, cheers markets

STORY: The barriers are coming down in Shanghai.

Authorities are taking down the fences that signalled strict lockdown measures.

The city of 25 million people has been in their grip for two months.

Now the lockdown will finally end on Wednesday (June 1).

Locals are emerging with a mix of hope and wariness:

"Today is the first day we are permitted to go outside freely. I am delighted because we have been under lockdown for so many days. I would say that the vibe is truly unique and quite complex.”

From Wednesday public transport will resume and residents will be allowed back to work.

Shops can open at 75% capacity, but people will still need to wear masks and take regular virus tests to enter public venues.

Investors will be cheering though.

Shanghai’s lockdown has battered the city’s manufacturing and exports.

It also roiled supply chains in China and around the world, slowing international trade.

China’s main stock indexes rose around 1% on Tuesday (May 31) as traders looked forward to the easing of restrictions.

Data out the same day showed that factory activity in the country was still falling, but at a slower rate.

That as curbs ease around the country, not just Shanghai.

The country has also unveiled fresh economic stimulus measures, and eased restrictions on some tourism.

Investors, and Chinese citizens, will just be hoping lockdowns are finally gone for good.

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