China shares fall amid tension with US and new strain of virus Economy

China shares fall amid tension with US and new strain of virus  Economy

China’s shares closed lower on Tuesday (22), the biggest decline in nearly four months due to continued tensions with the US and a new, more contagious strain of coronovirus found in the UK, hindering rapid global economic recovery.

Countries around the world closed their borders with the United Kingdom on Monday amid fears about the new highly contagious coronovirus strain.

The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, fell 1.63%, its worst session since October 30, while the Shanghai index fell 1.86%, its biggest daily percentage decline since 3 September.

On Monday, the United States government published a list of Chinese and Russian companies with alleged military ties that prohibited their purchase of a range of American products and technology.

  • In TOKYO, the Nikkei index fell 1.04% to 26,436 points.
  • In Hong Kong, Heng Seng fell 0.71% to 26,119 points.
  • In Shanghai, the SSEC index fell 1.86%, to 3,356 points.
  • The CSI300 index, which includes the largest companies listed in Shanghai and Shenzhen, fell 1.63% to 4,964 points.
  • In Seoul, the KOSPI index fell 1.62% to 2,733 points.
  • In TAIWAN, the TAIEX index declined 1.44% to 14,177 points.
  • In Singapore, the STIMITS TIMES index dipped 0.67% to 2,827 points.
  • In SYDNEY, the S & P / ASX 200 fell 1.05% to 6,599 points.

At 7:53 am (Brasilia time), the FTSEEurofirst 300 index rose 0.69% to 1,503 points, while the Pan-European STOXX 600 index rose 0.73% to 390 points, recovering from a 2-point decline. % In the previous session, which was also her biggest daily loss in almost two months.

The UK tightened lockout on Monday to prevent the spread of the new coronavirus virus, believed to be 70% more infectious than the original, trigger border blocks and travel restrictions in many countries.

The BBC said that the UK and France would on Wednesday announce an agreement to resume freight transport.

See more economy news:

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *