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Beijing announces new Covid cases and Chinese stock markets fall sharply

Beijing, the capital of China, warned over the weekend of new Covid cases and began mass testing in Chaoyang, China's main commercial district. . This district is the source of most of the 42 new Covid cases reported in Beijing since Friday, “CNBC” reports.


Beijing announces new Covid cases and Chinese stock markets fall sharply.


So far, only individual apartment buildings in Beijing have been closed. Schools remain open for the most part, but the Chaoyang business district has been ordered closed. suspension of all group activities and training courses. including arts and sports activities.



Hong Kong's Le Hang Seng site fell more than 4% on Monday, while Shanghai plunged 5%. . They are the worst performers, while the others are down 1-2%.


Local authorities added that residents of the affected area should generally work from home and not go out unless necessary.


The rise in cases in Beijing comes as mainland China faces its worst Covid outbreak since the early 2020s . The country has adhered to a strict "zero Covid" policy, which involves implementing rapid lockdowns, quarantines and travel restrictions to control virus outbreaks.



Most of Shanghai , China's largest city, remains under a prolonged lockdown and has reported more than 100 new Covid-related deaths since Friday.


Nationally, Shanghai is by far the city with the most Covid cases, with more than 2,400 cases with symptoms and more than 16,900 without symptoms reported as of Sunday.

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