Chinese stocks have soared, with Hong Kong's Hang Seng within reach of its best week in a decade.
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The yuan, meanwhile, jumped on reports of early progress in US checks on Chinese company audits and hopes for COVID restrictions to be relaxed.
Bloomberg News reported initial US inspections of Chinese company audits finished ahead of time, citing people familiar with the situation, raising hopes that they were satisfied.
The Hang Seng surged either side of the midday break and was last up 7.4 per cent, headed for an 11 per cent weekly gain. Tech giants with US listings led the charge, driving the Hang Seng Tech index up 11 per cent.
Online giants JD.com and Alibaba rose more than 15 per cent.
On the mainland, the Shanghai Composite rose 2.7 per cent and is heading for a 5.6 per cent weekly gain. The blue-chip CSI300 was up 3.7 per cent on Friday and 6.8 per cent on the week.
The yuan rose about 0.9 per cent to 7.2410 per dollar, despite broad dollar gains elsewhere.
Australian Associated Press
