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China’s lockdowns alarm financial markets

Mohamed Abdelhamid 25 May, 2022 1:02 am Commodities, Forex Market, Market Update

Beijing is continuing quarantine to end its month-old COVID outbreak, while in Shanghai’s authorities plan to keep most restrictions in place this month, before a more complete lifting of the two-month-old lockdown from June 1.

The Chinese capital reported 47 new Covid cases om Tuesday, compared with 48 on Monday. Cases spiked to 99 on Sunday, the highest of the current outbreak. Global supply chain disruptions are a concern which have been exacerbated by not only the restrictive measures in China to control its latest COVID-19 outbreak, sending inflation to multi-decade highs, but Russia’s war with Ukraine as well.

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