The epidemic situation in China continues to heat up, and even the stock and foreign exchange markets are also affected.

(Associated Press)

[Financial Channel/Comprehensive Report] The epidemic in China continues to spread, affecting the stock market.

Reuters pointed out that the trading volume of China's stock market and foreign exchange market has shrunk recently, and the trading hall is deserted, partly because traders are infected with the epidemic. Many large asset management companies and banks have confirmed that almost half of Beijing's employees have been hit by darts. Even the China Securities Regulatory Commission cannot escape this. A wave of epidemics forced the cancellation of the weekly IPO review meeting.

Turnover in China's stock market retreated last week, with the Shanghai Composite Index reporting weekly turnover of 139 billion shares, slightly below the average of about 143 billion over the past three years, Reuters reported.

According to a fund manager, more than half of his colleagues in Beijing are sick, compared with about 5%-10% in Shanghai.

Please read on...

China's interbank market is also quieter than usual, with average daily trading volumes in yuan/dollar falling to about $20 billion last week, the lowest since April 2022, when Shanghai was locked down.

A trader at a state-owned bank said that most foreign exchange traders in Beijing are out of the office, so of course trading volumes will drop.

The trader said the bank had asked any staff who had lived with a person with a fever or tested positive not to come into the office.

And remote transactions cannot solve the problem of being sick and bedridden, and you may have to take care of your family.

The outbreak in China is also affecting the progress of IPOs. The China Securities Regulatory Commission canceled its weekly IPO review meeting last week and it is unclear whether it will resume this week.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news