Technical Analysis

China COVID peak? Nearly a dozen major Chinese cities are reporting recovery in subway use

A resurgence in subway use is being reported by almost a dozen significant Chinese cities, suggesting that the “exit wave” of Covid infections may have crested in several urban areas.

Among the 11 cities reporting so are:

  • Shanghai,
  • Guangzhou,
  • Shenzhen,
  • and Nanjing

All say they are seeing a rebound in trips over the last week.

Beijing, Zhengzhou and Chongqing, and some others, have already reported increased subway usage and traffic congestion from a trough reached around mid-December.

Info via Bloomberg (gated).

This is a positive for China trades (stockmarkets for example) and China-proxy trades (AUD for example).

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