COVID-19 strikes again

COVID-19 strikes again

Level two of risk for Beijing as the number of new cases increase.

Just as the world started to recover from the initial wave of the pandemic, and the lockdown measures ease, new cases emerged in China these past days. The city of Beijing reported 31 new cases on Wednesday, with a weekly total of 137. Before the spike, no new cases emerged for 57 days.

Beijing is ready to tighten the lockdown measures to keep the virus in the city. With the new rules, no citizen is allowed to leave the city. More than 27 boroughs are considered medium-risk areas, and the one closest to the market was marked as high risk.

Only people living in low-risk areas that have been tested negative for infection can leave the city. But according to BBC, the tests won't be available until July.

The authorities have suspended sports events, and the arrival of tourists, swimming pools and gyms are closed. The restaurants will no longer host weddings and large parties. All types of schools closed on Tuesday.

The railway services are reduced until July, and more than 1,200 already suspended. Roads are still open, and factories are still working. As a safety measure, Macau imposed a 14-days medical observation for all Beijing arrivals.

The outbreak probably has started in Xinfandi food markets, which is responsible for 80% of the city's meat and vegetable supply. According to health officials, the transmission was human-to-human via tainted goods.

Overall, since March until now, the country recorded only 3,200 new cases.

During the regular trading hours, HongKong45 lost 0.3%. Japan225 lost 0.6%, while USA500 gained 1.9%. USD/JPY hit a daily low of 107.17.


Sources: bbc.com, theguardian.com, fxstreet.com.


The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.