LONDON, June 28 Reuters Global shares moved into positive territory on Tuesday while oil prices firmed following China39;s decision to ease some quarantine requirements for international arrivals that raised hopes for stronger growth and a revival in demand for commodities.

China slashed the quarantine time for inbound travellers by half in a major easing of one of the world39;s strictest COVID19 curbs, which have deterred travel in and out of the country since 2020.

Asian shares rose after the announcement and European stocks opened firmly in the green which sent the MSCI39;s benchmark for global stocks into positive territory and on track for its fourth consecutive daily gain.

China39;s strict zeroCOVID regulations have been a drag on activity in the world39;s number two economy, but an easing of travel restrictions and reopening of major cities from lockdowns boost optimism that growth can get back on track.

This is a good step forward, said Hani Redha, multi asset portfolio manager at PineBridge Investments.

It39;s not enough to lead to a very robust recovery, but it39;s definitely going to be positive incrementally.

MSCI39;s broadest index of AsiaPacific shares rose 0.3, while Hong Kong39;s Hang Seng reversed earlier losses to rise 0.7 and China39;s CSI 300 Index gained over 1. China39;s tourism stocks gained over 5.5.

The panEuropean STOXX 600 was up 0.6, boosted by oil gas and mining stocks but the outlook for developed market stocks remains challenging…