China Covid-19 cases hit daily record as economic outlook darkens


Sumary of China Covid-19 cases hit daily record as economic outlook darkens:

  • Shanghai-style full lockdowns could be avoided, but they might be replaced by more frequent partial lockdowns in a rising number of cities due to surging COVID case numbers, Nomura analysts wrote.
  • China stocks fell on Thursday as concerns over the record-high caseload overshadowed optimism from fresh economic stimulus.
  • The surge in the number of infections, at record highs not seen since an outbreak in Shanghai earlier this year, is diminishing investors hopes that China will soon ease the hard zero-COVID policy that, along with a downturn in the property market, is battering the economy.
  • China recorded 31,444 new local COVID cases for Wednesday, breaking the record set on April 13, when Shanghai was in a city-wide lockdown that would last two months.
  • Recently, cities have been using more localised and often unannounced lockdowns.
  • China reported a record high number of Covid-19 infections on Thursday, with cities nationwide imposing localised lockdowns and other curbs that are darkening the outlook for the worlds second largest economy.

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