July 20, 2022 - 11:51 AM 282 views
As China announces more than 1000 new coronavirus cases for the first time since May 20, additional stringent measures are being considered.
According to the National Health Commission, the nation saw 1,012 new coronavirus cases for July 19, of which 150 had symptoms and 862 did not (NHC).
Beijing, the capital of China, reported one fresh local case. Five fresh local symptomatic cases were reported from Shanghai.
When it was revealed that 84 homes in an apartment complex in Guangzhou's Liwan district had been opened in an effort to discover any "close associates" hiding within and to sanitise the area, the public's anger toward the authorities also increased.
Authorities in southern China have issued an apology, nevertheless, for raiding the residences of individuals who had been brought to a hotel under quarantine. It has been announced that those impacted by the break-ins would get compensation for the harm.
Despite the growing financial expenses, China continues to adhere to a rigorous zero-Covid policy. New lockdowns won't be shocking in Beijing and Shanghai if the cases keep increasing at this rate.
The Market Reaction
Investors' concerns about an impending recession seem to be subsiding, and markets appear to be ignoring the alarming news about the Chinese covid. The US dollar index fell 0.07 percent to trade around 106.60, while the S&P 500 futures were last seen trading up 0.38 percent on the day.
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