Lockdown jitters renews on Beijings record Covid-19 cases

The S&P/ASX 200 is up just 0.03% at 7147.7 after trading as high as 7196 earlier, equities rose modestly in Japan, but a fall in Chinese tech stocks amid a virus outbreak in Beijing weighed on Hong Kong and China.

Beijing has reported a record number of COVID-19 cases after a strict lockdown, which is again a concern about a lockdown. China’s strict COVID-zero policy has restrained the economic growth and encouraged Chinese banks last week to cut borrowing rates for long-term loans by a record amount.

At AEST 2:01 PM, Australian healthcare sector is trading in the red zone and is the top loser currently. Out of 11 sectors, 9 are trading in the red zone. It seems that the investor are worried about the consequences related to the rising cases in Beijing, China.

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