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By Ambar Warrick
Investing. com — Stocks in China and Hong Kong fell on Monday amid growing considerations about new COVID-19 lockdowns, while Asian markets fell after strong U. S. employment awareness fell.
The Heavy Technology Hang Seng Index had the worst performance in the region, down 1. 4%. 1. 9% and 3%, with maximum weight in the index.
China’s top-tier three-hundred-tier Shanghai Shenzhen CSI Index fell 0. 6%, while the Shanghai Composite Index traded flat. of COVID-19 cases.
The closures are the newest in a series of restrictions imposed through Beijing this year, stemming from its zero-COVID policy. The government’s refusal to budge on politics has taken a heavy toll on the Chinese economy this year.
Chinese stocks have fallen sharply this year, while the yuan has fallen to a two-year low.
Still, Monday’s knowledge showed China’s sector grew more than expected in August, indicating some signs of recovery from the pandemic.
Broader Asian stock markets retreated after it emerged on Friday that the U. S. nonfarm payroll was not listed as a single trader. The U. S. increased more than expected in August. The reading provides the Fed with more to continue raising interest rates at an immediate speed in 2022.
Traders are now trading with a 57% chance of a 75 basis point through the Federal Reserve in September.
The Philippines’ PSEi Composite fell 0. 6% and had the worst performance in Southeast Asia.
South Korea’s KOSPI index fell 0. 3%. The country’s economic activity is expected to be disrupted by Typhoon Hinnamnor, one of the worst storms South Korea has ever faced.
On the one hand, the S
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