China’s benchmark Shanghai Composite Index (000001.SH) lost 2.6% on Monday, while the Shenzhen Component Index (399001.SZ) fell 3.08%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 3.01% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 3.56%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Cover Story: Why the Wild Ride for Oil and Gas Prices Isn’t Over
Commodity prices for energy, metals and food are likely to continue highly volatile amid the Russia-Ukraine war and escalation of Western sanctions
· China Tightens Virus Controls in Shanghai and Shenzhen
Two mega-cities suspend transportation and limit movement as worst Covid-19 flare-ups since early 2020 sicken thousands across China
· Top Chinese Diplomat to Meet U.S. National Security Adviser in Rome
Conference Monday between Yang Jiechi and Jake Sullivan will be first high-level, in-person China-U.S. talks since Russian invasion of Ukraine
· Five-Stock Delisting Threat by SEC Sparks Rout of Chinese Shares in U.S.
Nasdaq’s Golden Dragon China Index records biggest one-day drop since October 2008 crash as investors stampede for the exits
· Northeast China Car Manufacturing Hub in Lockdown as Covid Cases Surge
Changchun’s 9 million residents ordered to stay at home as schools and public transport closed
· Analysis: Six Factors That Will Shape China’s Economy in 2022
Government prioritizes infrastructure spending and tax refunds and cuts for businesses to boost growth
· Weekly Must-Read: China Meheco Confirms Pfizer Talks on Selling Paxlovid in China
State-owned drugmaker’s shares surge by 10% limit on four straight days in Shanghai, though its role may be limited to distribution logistics
· Saudi Aramco Reboots $10 Billion Oil Refinery Venture in China
Joint venture set up in 2019 went on ice two years ago amid plunging oil prices and pandemic disruptions
· Foreign Investors’ China Bond Holdings Fall for First Time Since 2018
Analysts speculate Russia’s central bank may have sold its holdings to raise cash amid conflict with Ukraine
· SF Express Halts Deliveries From Hong Kong to Mainland
Covid flare-up spurs move by logistics giant as Hong Kong battles its worst outbreak of the pandemic and infections spread to mainland
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This article was generated by Caixin Automation.
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