June 10, 2022 - 12:13 PM 256 views
A week after alleviating the
COVID-19 outbreaks-induced limitations, the financial hub of China's Shanghai
city is once again fighting with the COVID virus and many regions in China have
come back under lockdown.
This weekend, Shanghai will lockdown
eight city districts in order to perform a mass test on millions of people as
COVID-19 cases continue to loom.
During the COVID test, the
limitations will apply to approximately 15.3 million residents residing in the
following districts of Shanghai.
In the meantime, Christophe Lauras,
president of the French Chamber of Commerce in China, said that the business
climate is not so optimistic despite the fact that most of the cities are open;
still, there is a problem in achieving the Zero-COVID policy, and every morning
when people wake up, they don’t know exactly whether they will be locked or
The Market Reaction
Although the S&P 500 futures are up 0.09 percent on the day, markets are nursing their wounds after Thursday's massive sell-off. The Australian dollar is hovering around 0.7100, waiting for a new direction from the US inflation report.
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