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Santa rally slim as eyes on China’s Covid policy reversal

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Global markets

Trading is likely to remain on the quiet side as many traders break for the Christmas holiday. The chances of a Santa rally taking place are now said to be minimal, though the FTSE 100 was 17 points higher at 7,348.80 in the first minutes of London’s opening.

China’s fast-tracked exit from its zero-Covid policy is opening up investor opportunities but health experts are predicting 60% of the population could be infected with Omicron over the winter.

The Bank of Japan began its monetary policy meeting today and will announce its interest rate decision on Tuesday.

The Hang Seng was down 0.5% at 19,351.31, the Nikkei 225 closed down 1.1% at 27,237.64



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