Asian stocks closed lower on Tuesday (24), as tougher restrictions against Covid-19 in Beijing, the Chinese capital, fueled concerns about a slowdown in the world’s second-largest economy.
In mainland China, the Shanghai Composite index dropped 2.41% to 3,070.93 points, and the less comprehensive Shenzhen Composite index fell even more sharply, 3.62%, to 1,922.48 points.
Chinese Vice Premier Sun Chunlan called for broader initiatives to curb the transmission of Covid-19 in Beijing, which has seen a new increase in cases, during an inspection visit to the city.
Elsewhere in Asia, Japan’s Nikkei slipped 0.94% in Tokyo to 26,748.14 points, while the Hang Seng was down 1.75% in Hong Kong, to 20,112.10 points, South Korean Kospi fell 1 57% in Seoul, at 2,605.87 points, and Taiex recorded a loss of 1.19% in Taiwan, at 15,963.63 points.
With fears about the pandemic returning to the fore, a statement by US President Joe Biden, who last Monday said he would soon discuss with the country’s Treasury Secretary Janet Yellen, the possibility of withdrawing some of the tariffs imposed on Chinese goods during the Trump administration.
In Oceania, the Australian stock exchange was also in the red today, with the S&P/ASX 200 down 0.28% in Sydney at 7,128.80 points.
Source: CNN Brasil
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