1 year ago
42
Police officers artifact disconnected a thoroughfare successful Shanghai successful the country wherever protests against China's zero-Covid argumentation took spot the nighttime earlier pursuing a deadly occurrence successful Urumqi, the superior of the Xinjiang region. (Photo by HECTOR RETAMAL/AFP via Getty Images)
Hector Retamal | Afp | Getty Images
Hong Kong's Hang Seng scale led losses successful a antagonistic Asia-Pacific league connected Monday amid unrest successful China over its continued zero-Covid policy.
The Hang Seng index in Hong Kong fell 4% astatine unfastened and past traded 3.67% lower. The Shanghai Composite fell 1.55% and the Shenzhen Component also fell 1.6%.
The offshore yuan weakened sharply against the dollar aft ending past week astir 7.20 per dollar.
Other currencies besides astatine hazard owed to China unrest: Standard Chartered
Global currencies volition besides beryllium astatine hazard of weakening on with the offshore Chinese yuan amid unrest successful China connected its zero-Covid policies due to the fact that of however proviso chains whitethorn beryllium affected, according to Standard Chartered.
"The cardinal question for however the satellite reacts is however the Chinese proviso concatenation responds," Steven Englander, Standard Chartered Bank's managing manager said connected CNBC's "Squawk Box Asia."
"If it gets further disrupted, I deliberation it's a risk-off thing," helium said. "Not conscionable CNH, but different currencies volition beryllium astatine risk."
Englander added that traders whitethorn beryllium looking to trim their vulnerability to further risk.
— Jihye Lee
Oil prices gaffe arsenic China's Covid protests continue
Crude lipid futures slipped aboriginal successful Asia arsenic precocious Covid cases, microorganism restrictions and unrest successful China rise fears astir request from the world's second-largest lipid consumer.
West Texas Intermediate futures shed 0.35% to $76.01 per barrel, portion Brent crude futures mislaid 0.26% to $83.41 per barrel.
Oil prices saw crisp falls past week arsenic "mounting lockdowns successful China raised concerns implicit demand," ANZ Research's Brian Martin and Daniel Hynes wrote successful a Monday note.
"This remains a headwind for lipid demand," they said, adding that the interaction of rising Covid cases was reflected successful China's mobility information arsenic well.
— Abigail Ng
Offshore Chinese yuan weakens successful Asia greeting arsenic Covid protests persist
The offshore Chinese yuan sharply weakened against the U.S. dollar amid antagonistic sentiment implicit unrest successful China implicit Covid restrictions.
The currency weakened astir 0.8% against the U.S. dollar to 7.2529 successful Asia's greeting trade.
The dollar index roseate 0.32% to 106.29, with investors apt seeing the greenback arsenic a harmless haven plus arsenic interest implicit China grows.
— Jihye Lee
English (US)