Coronavirus Update: Shanghai tightens restrictions after an increase in instances, and Minhang is shut down.

According to the Chinese media agency Caixin, “The Shanghai city is beefing up its COVID control efforts, including resuming lockdowns in some residential areas, in an effort to avoid another citywide outbreak following a spike in cases following the

June 09, 2022 - 11:58 AM 279 views

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According to the Chinese media agency Caixin, “The Shanghai city is beefing up its COVID control efforts, including resuming lockdowns in some residential areas, in an effort to avoid another citywide outbreak following a spike in cases following the city's reopening last week.”

On Wednesday, the China’s financial hub reported a four new COVID cases in all those zones which are under the quarantine.

Shanghai's Minhang District is a suburban district. Lockdown will be implemented throughout the district.

People will be tested in large numbers starting on Saturday.

Shanghai will increase its skills to address community cases, according to Zhao Dandan, Deputy Director of the Shanghai Municipal Health Commission.

Meanwhile, China's National Health Commission (NHC) announced 240 new coronavirus cases on June 8, of which 70 were symptomatic and 170 were asymptomatic.

The Market Reaction

Most major FX pairings are trading in tight ranges ahead of the crucial ECB announcement, indicating that risk sentiment is still weak. Markets are still worried about Chinese covid and growth, with the S&P 500 futures down 0.21 percent so far. The AUD/USD currency pair is trading at 0.7150, down 0.38 percent on the day.


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