Investors in Chinese assets who expected a significant easing of the COVID curbs were left disappointed.
Investors in China-related assets who had expected a significant easing of COVID curbs were left disappointed this week as the country battles the worst wave of cases since Shanghai’s outbreak earlier this year.
iShares China Large-Cap ETF FXI which offers exposure to large companies in China by tracking the FTSE China 50 Index XIN9X000 , booked a weekly loss of 2.9%. Meanwhile, shares of the SPDR S&P China ETF GXC booked a weekly loss of 3.2%, while the Xtrackers Harvest CSI 300 China ETF ASHR shed 2.3% for the week, Dow Jones Market data showed.
Municipal governments have not announced citywide lockdowns yet, and it is unclear how many people are affected at a city level. Beijing has a population of 21.6 million, while Guangzhou, a major transportation hub in the south, has nearly 19 million residents.
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