New covid cases have been reported in Beijing, reigniting fears of a lockdown

An earlier report mentioned that the Shanghai district is required to close all shops and residents must stay at home. Currently, Bloomberg reports that, during its current COVID outbreak, the Beijing city has reported a record number of COVID cases.

May 23, 2022 - 01:03 PM 484 views

New covid cases have been reported in Beijing, reigniting fears of a lockdown

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© New covid cases have been reported in Beijing, reigniting fears of a lockdown

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An earlier report mentioned that the Shanghai district is required to close all shops and residents must stay at home. Currently, Bloomberg reports that, during its current COVID outbreak, the Beijing city has reported a record number of COVID cases. Therefore, while reviving the crisis, the Chinese officials are planning to implement a lockdown in the capital city of China as they don’t want to see any community out spread of the COVID virus in the future.

On Sunday, the city of Beijing reported 99 COVID cases, up from 61 on Saturday.

The Bloomberg report warns that the total number of COVID cases might be low, but since the COVID outbreak started, the rise seems to be one of the biggest.

This will exacerbate the lockdown crisis, and it may be resurrected through financial markets, which are scaling on risk appetite, and currencies such as the Australian dollar, which trades as an intermediate. However, the bulls are approaching a critical 4-hour resistance in comparison to the US dollar, which has gained more than 0.60% this season.

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