In April this year, compared to the same month last year, Chinese industrial production had an unexpected drop of 2.9%, while retail sales fell by 11.1%, much higher than expected. The figures come at a time when Beijing maintains a policy of “zero tolerance” against the current wave of Covid-19, the worst the country has ever faced.
Despite new signs of a sharp slowdown, the Chinese central bank (PBoC) today decided to leave some of its key interest rates unchanged.
Losses in mainland Chinese markets, however, were contained, a day after the city of Shanghai announced the relaxation of restrictions against Covid-19, with the reopening of supermarkets, shopping centers and restaurants, albeit on a limited basis.
The Shanghai Composite index slipped 0.34% to 3,073.75 points, while the less comprehensive Shenzhen Composite index dropped 0.28% to 1,926.01 points.
Elsewhere in Asia, South Korean Kospi was down 0.29% in Seoul at 2,596.58 points, but Japan’s Nikkei was up 0.45% in Tokyo at 26,547.05 points, Hang Seng up 0 .26% in Hong Kong, at 19,950.21 points, and Taiex registered a gain of 0.43% in Taiwan, at 15,901.04 points.
In Oceania, the Australian stock exchange was in the blue, up 0.25% from the S&P/ASX 200 in Sydney, at 7,093.00 points.
With information from Dow Jones Newswires
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
