Technical Analysis

China COVID update – restrictions imposed in Guangzhou

Bloomberg with the report on continued COVID-related restrictions in China. This is in Guangzhou, the southern Chinese manufacturing hub that’s home to about 19 million people:

  • All primary and middle schools in Haizhu district, where about 10% of the city’s total population lives, will halt in-person lessons from Monday.
  • The restrictions come more than a week after Huadu district shut entertainment venues and schools and, while a small number of neighborhoods were allowed to ease curbs on Sunday, most of the area remains subject to control measures.
  • Guangzhou reported 69 new infections for Sunday.

Bloomberg link for more is here (gated)

The report adds this:

  • a gradual relaxation of Covid Zero expected to start in the second quarter of 2023, Goldman Sachs Group Inc. analysts … wrote in a report

Chinese stocks have taken a beating today:

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