Case numbers have more than tripled, while markets are also focused on the potential for peace in Ukraine
The JSE looks set to contend with mixed Asian markets on Monday morning, with Chinese markets under pressure after a surge in Covid-19 infections at the weekend.
China’s case numbers have more than tripled, but the country has adopted a more flexible approach to the pandemic, moving away from a zero tolerance approach and strict lockdowns. “The spike in numbers is now a big test and it remains to be seen if officials will tolerate large outbreaks or whether drastic and long-lasting lockdown measures are reintroduced with the latter potentially having a hindering affect on China’s domestic economy with supply constraint issues globally,” said National Australia Bank analyst Rodrigo Catril in a note.
Focus is also on the Ukraine, with markets lifted a little by peace-talks hopes on Monday, though Ukrainian officials later poured cold water on this. In morning trade the Hang Seng slumped 3.9% while the Shanghai composite was 1.3% lower. Japan’s Nikkei gained 0.7% and Australia's all ordinariesGold was down 0.65% to $1,975.13/oz while platinum lost 1.63% to $1,059.50. Brent crude was 1.32% higher at $110.46 a barrel.Absa is due to report its results for the year to end-December later, expecting headline earnings per share to as much as triple.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
With 3,400 daily Covid-19 cases, China faces worst outbreak in two yearsA nationwide surge in cases has seen authorities close schools in Shanghai and lockdown several northeastern cities, as almost 19 provinces battle clusters of the Omicron and Delta variants.
Read more »
China’s daily Covid-19 cases more than tripleHealth authorities allow rapid self-test kits for the first time to help detect Covid-19 infections
Read more »
China records nearly 3,400 daily COVID-19 cases in worst outbreak in two yearsChina, where the virus was first detected in late 2019, has maintained a strict 'zero-Covid' policy enforced by swift lockdowns, travel restrictions and mass testing when clusters have emerged.
Read more »
Pfizer jab safe and effective, regulator says in response to social media alarmThe Pfizer Covid-19 vaccine remains safe and effective, says SA's medicines regulator.
Read more »
Pfizer jab safe and effective, regulator says in response to social media alarmThe Pfizer Covid-19 vaccine remains safe and effective, says SA's medicines regulator.
Read more »
Pfizer jab safe and effective, regulator says in response to social media alarmThe Pfizer Covid-19 vaccine remains safe and effective, says SA's medicines regulator.
Read more »