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The Latest Breaking News from Shanghai

Citi Slashes Alibaba's Price Target By 12% As COVID Resurgence Looks To Dampen Growth

Citi analyst Alicia Yap lowered the price target on Alibaba Group Holding Ltd (NYSE:BABA) to $177 from $200 (59.5% upside) and kept a Buy rating on the shares. Amid the widening spread of COVID cases and city lockdowns, the analyst thinks overall economic activities in China have been negatively affected, which has drained Alibaba's profit…

Benzinga

China relies on traditional medicine to fight COVID surge in Shanghai

Shanghai is distributing to residents millions of boxes of traditional Chinese medicine (TCM), such as herbal products and flu capsules, which it says can treat COVID-19 in the battle to control its largest virus outbreak.

Reuters

U.S. consulate staff in China help Marines running low on rations

Generous colleagues helped out seven U.S. Marines at the U.S. consulate in Shanghai who were running out of fresh food because of a strict coronavirus lockdown, according to posts in private consulate message groups.

Reuters

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Oil Rises as New Russia Sanctions Outweigh Demand Worries

Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in US crude stockpiles and Shanghai's extended lockdown. Brent crude futures were up 49 cents, or 0.5%, at $107.13 a barrel as of…

Asharq Al-Awsat

In Shanghai, a long, fruitless wait for help amid COVID lockdown

The elderly woman slouched in a chair in Shanghai's cool spring weather as her three companions squabbled with police and others clad in white biohazard suits, the only people visible on a street emptied by the COVID-19 lockdown.

Reuters

Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed down 0.45%

Caixin Global

China reports most virus cases since pandemic start

Shanghai (AFP) - China reported more than 20,000 Covid-19 cases on Wednesday, the highest daily tally given since the start of the pandemic as millions in locked-down Shanghai began a new round of testing.

AFP

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Shanghai to allow parents to stay with COVID-infected kids

Following a public uproar, Shanghai will allow parents to stay with children infected with COVID-19 as China's largest city sees another jump in cases

The Independent UK

Shanghai’s ‘grim’ Covid outbreak threatens more global supply chain disruption

Lockdowns imposed over China’s worst Covid outbreak has hit manufacturing and may lead to delays and higher prices

The Guardian - AU

China Reports 20,000 Daily Covid cases

China reported over 20,000 Covid-19 cases on Wednesday, the highest daily tally given since the start of the pandemic, with Shanghai the heart of the virus surge despite being in lockdown. The country's "zero-Covid" strategy has come under immense strain as cases spike. Until March, China had kept daily cases…

Asharq Al-Awsat

Shanghai scrambles to secure food supplies as COVID lockdown hits

Residents in the major Chinese financial centre of Shanghai, with 26 million under lockdown, scrambled to secure food on Wednesday, with supermarkets shut and deliveries restricted amid another citywide COVID-19 testing programme.

Reuters

Shanghai residents face food shortages as lockdown extended due to rising COVID-19 cases

The Chinese megacity where 26 million people are in an extended lockdown is facing a food supply shortage and residents' frustration is growing.

ABC News

China reports 20,000 daily Covid cases, most since start of pandemic

Shanghai (AFP) - China reported over 20,000 Covid-19 cases on Wednesday, the highest daily tally given since the start of the pandemic, with Shanghai the heart of the virus surge despite being in lockdown.

AFP

Shanghai to start another round of citywide COVID tests

Shanghai will ask all 26 million residents to take another round of COVID-19 tests, a city official said on Wednesday, adding that lockdown curbs would continue until the exercise is complete.

Reuters

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Al Jazeera

Shanghai residents feel strain as lockdown extended indefinitely

People confined to their homes, unable even to take their dogs for a walk, and reliant on authorities for supplies.

Axios

China’s extreme COVID lockdowns cause widespread suffering

The extreme measures are causing food shortages and disruptions in medical treatment.

The Guardian - UK

Shanghai puts whole city on lockdown as Covid cases surge

Residents of China’s most populous city complain of government’s lack of organisation

The Street

Tesla Stock Slips Lower As Shanghai Extends Covid Lockdown Amid Record Infection Surge

Tesla's Shanghai factory, which has been closed since March 28, could face further re-opening delays as city authorities extend their Covid lockdown rules.

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The Street

Stocks Edge Lower, Oil Climbs, Twitter, Tesla And Kansas Wins - Five Things You Must Know

Stock futures edge lower as traders test 'bear market' rally; Oil prices resume surge as Russian sanctions talk intensifies; Twitter shares extend surge as Musk wades in to 'edit button' debate; Tesla shares slip as Shanghai extends Covid lockdown and Rock, Chalk Jayhawk!: Kansas wins fourth national hoops title.

The Independent UK

COVID outbreak 'extremely grim' as Shanghai extends lockdown

A city official says the COVID-19 outbreak in China's largest metropolis of Shanghai remains “extremely grim" amid an ongoing lockdown confining 26 million people to their homes

Reuters

Whole of Shanghai enters COVID lockdown despite lower symptomatic cases

(This April 5 story corrects final paragraph to say the 23 cities account for 22% of GDP, not 13.6%)

The Guardian - AU

‘This is inhumane’: the cost of zero Covid in Shanghai

Patients sick with non-Covid related illnesses are being kept away from hospitals as anger grows over failure to control Omicron

Caixin Global

Shanghai Reports No Port Back-Ups Amid Covid Flare-Up

World’s busiest container port says it’s keeping up with fast turnarounds and short queues amid concerns over congestion

InsideEVs

German-Made Tesla Model Y Compared To China-Made Model Y

Does Tesla's made-in-Germany Model Y differ from other Model Ys in Europe that were built at Giga Shanghai? Let's take a look at two Model Y SUVs side by side.

Caixin Global

Editorial: People’s Livelihood Must Be Guaranteed Amid Fight Against Covid-19

Virus control policies should give consideration to science, market and information transparency, and truly put lives above everything else

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