Coronavirus Update: Shanghai reimposes strict measures as cases rise

Dhwani Mehta FXStreet

The Financial Times (FT) is reporting on Thursday, half of Shanghai districts will be under lockdown this weekend to test millions of residents after signs emerged of renewed community transmission of coronavirus.

This comes after China’s financial hub reported 11 new infections on Thursday. The strict measures will affect eight of Shanghai’s 16 districts, including Pudong, one of the worst-hit areas at the start of the lockdown, the FT said.

Meanwhile, Beijing is also on high alert after a cluster of cases was detected in Chaoyang on Thursday.

Market reaction

The discouraging news from China seems to have little to no impact on risk sentiment so far, as the S&P 500 futures see a 0.20% gain while the AUD/USD pair is re-approaching 0.6300, at the time of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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