China's reopening hits a higher gear - these stocks are ripping gains
Tuangtong/iStock via Getty Images

China's State Council announced a new 10-point plan to ease COVID restrictions on Wednesday and top official continue to soften the tone on the virus. The new rules pull back on mass testing, quarantine requirements and reducing the use of the health code system.
By most accounts, China's zero-COVID policy is being replaced with an effort by the government to push the population to live with the virus. Anecdotal reports suggest ticket sales for tourist and leisure spots have soared. Social media accounts also indicate a higher level of public gatherings already.
Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) jumped 9.04% to $11.34 in premarket action on Thursday and are close to their 52-week high.
Wynn Resorts (WYNN) gained 3.58% in the early session to $88.00.
Las Vegas Sands (LVS) was up 3.16% to $48.62 and is also within striking range of its 52-week high.
Studio City International Holdings Limited (MSC) soared 12.47% and is now more than doubled in less than three weeks.
Luckin Coffee (OTCPK:LKNCY) rose 2.27% and is now up more than 25% in six weeks.
Yum China (YUMC) moved 4.02% higher and is approaching the $60 level for the first time in 14 months.
U.S. consumer giants like Hasbro (HAS), Mattel (MAT), Nike (NKE), and Starbucks (SBUX) all registered about 1% gain off the China developments.