China’s benchmark Shanghai Composite Index (000001.SH) gained 0.58% on Monday, while the Shenzhen Component Index (399001.SZ) rose 1.51%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 1.98% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.63%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
Economic expansion slows over the course of last year amid power shortages and turmoil in the real estate sector
· Cover Story: China in Hand-to-Hand Combat With Omicron
Stealthy, fast-spreading variant poses tough test for China’s ‘Covid Zero’ policy heading into Winter Olympics and Lunar New Year
· Update: Beijing Reports First Local Omicron Case
The Chinese capital recorded the highly contagious variant three weeks before the winter Olympics
· South China Omicron Cluster Grows as Travel Bans Imposed
The city of Zhuhai in Guangdong had reported seven local cases of the highly infectious Covid-19 variant on Saturday
· Alibaba-Backed Baseband Chipmaker Flops in Shanghai Debut
Shares of ASR Microelectronics lost a third of their value after listing Friday
The Chinese tech giant said Tuesday that its divestment of Sea shares provides it with ‘resources to fund other investments and social initiatives’
· China Reins in Ant’s Yu’e Bao and Other Giant Money Market Funds
CSRC proposed new rules for funds with more than $31.49 billion of assets and 50 million investors, imposing limits aimed at reducing risk
· China Suspends More International Flights to Shanghai
American Airlines, Delta, Lufthansa and China Eastern ordered to halt routes after more cases of Covid-19 are detected among inbound passengers
· In Depth: How China’s Health-Care Mutual Aid Industry Folded in Just Three Years
Shutdown of Ant’s Xiang Hu Bao brings down the curtain on an appealing idea that just wasn’t sustainable as participants inevitably got older and sicker
· Ant Group’s Consumer Finance Restructuring Hits Speedbump as State Firm Decides It Won’t Invest
Cinda Asset Management has pulled out of its planned $944 million investment into a unit of the fintech giant
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This article was generated by Caixin Automation.
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