Shares open sharply lower in China after protests escalate over zero-Covid measures.
China’s major stock indices and its currency have opened sharply lower Monday, as widespread protests against the country’s stringent Covid-19 restrictions over the weekend roiled investor sentiment. Hong Kong’s Hang Seng\n \n Index fell as much as 4.2% in early trading. It was last down 3.5%. The Hang Seng\n \n China Enterprises Index, a key index that tracks the performance of mainland Chinese companies listed in Hong Kong, tumbled 3.6%.
The markets tumble comes after protests erupted across China in an unprecedented show of defiance against the country’s stringent and increasingly costly zero-Covid policy. In the country’s biggest cities, from the financial hub of Shanghai to the capital Beijing, residents gathered over the weekend to mourn the dead from a fire in Xinjiang, speak out against zero-Covid and call for freedom and democracy.
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