Chinese stock exchanges sink with fear of the wave of Covid-19 and close at intraday lows: the Composite index of Shanghai closes at -4.95%at 3,063.97 points, while that of Shenzhen drops 4.56%at 2,013.37.
Chinese stock exchanges are also collapsing due to fears that Beijing and its companies could become the target of sanctions by the United States and Europe, due to ties between China and Russia. Hong Kongwhich yesterday had plummeted to a minimum in six years, yields 5.1%with technology stocks subject to a real sell-off (the Hang Seng Tech Index lost up to 7%).
The risk of sanctions adds to fears about the regulatory tightening already underway by Beijing and Washington and to growing concerns about the progress of the Covid 19 epidemic, which has prompted Beijing to lock down Shenzhen and the province of Jilin .
The Nikkei benchmark index marks a barely positive change of 0.15%, at 25,346.48, with a gain of 58 points. On the currency front, the weakening phase of the yen against the dollar continues, currently at its highest in 5 years, at a value of 118.30, and at a level of 129.50 against the euro.
Source: Ansa
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