SHANGHAI (Reuters) – Chinese stocks posted their biggest weekly drop in six weeks on Friday, as the yuan extended losses as the country’s strict Covid-19 lockdowns brought economic activity to a halt in many big cities, even as the country’s strict Covid-19 lockdowns brought economic activity to a halt. authorities promising to provide more help to companies hit by the measures.
Shanghai officials have doubled down on their offensive against the virus, launching another round of citywide testing and warning residents that the three-week lockdown will only be lifted in phases once transmission is eliminated. Many other cities are also believed to be under some form of lockdown.
The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, rose 0.44% on the day, while the Shanghai index rose 0.23%.
But both indexes posted their biggest weekly losses since early March and remained near two-year lows, having erased nearly all gains made after Vice Premier Liu He’s March 16 pledge to support the economy and financial markets.
. In TOKYO, the Nikkei index fell 1.63% to 27,105 points.
. In HONG KONG, the HANG SENG index fell 0.21% to 20,638 points.
. In SHANGHAI, the SSEC index gained 0.23% to 3,086 points.
. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, advanced 0.44% to 4,013 points.
. In SEOUL, the KOSPI index fell by 0.86% to 2,704 points.
. In TAIWAN, the TAIEX index registered a drop of 0.60%, to 17,025 points.
. In SINGAPORE, the STRAITS TIMES index rose by 0.38% to 3,361 points.
. In SYDNEY, the S&P/ASX 200 index fell 1.57%, to 7,473 points.
(By Jason Xue and Andrew Galbraith)
know more
+ New Montana: 3rd generation of Chevrolet pickup arrives in 2023
+ Omicron: Unexpected symptom of infection in children worries medical teams
+ Mercadão de SP vendors threaten customers with fruit scam
+ Video: Mother is attacked on social media for wearing tight clothes to take her son to school
+ Horoscope: check today’s forecast for your sign
+ What is known about fluorone?
+ Trick to squeeze lemons becomes a craze on social media
+ ‘Monster Ichthyosaur’ is discovered in Colombia
+ One twin became vegan, the other ate meat. Check the result
+ See which were the most stolen cars in SP in 2021
+ Expedition identifies giant squid responsible for ship sinking in 2011
+ US Agency warns: never wash raw chicken meat
#Chinese #stocks #worst #week #expansion #lockdowns #Shanghai