Shanghai tightens restrictions after cases surge, Minhang locked down

Shanghai is stepping up its covid control measures, including putting some residential neighborhoods back on lockdown, in a bid to prevent another citywide outbreak following a spike in cases after the city reopened last week, according to Chinese news agency Caixin.

China’s financial hub on Wednesday reported four new confirmed symptomatic cases of COVID-19, all in areas already under quarantine.

Minhang District is a district in the suburbs of Shanghai. the whole district must go into confinement.

Mass testing of people will start from Saturday.

Zhao Dandan, deputy director of the Shanghai Municipal Health Commission, Shanghai will strengthen its capacity to handle community cases.

Meanwhile, China reported 240 new coronavirus cases on June 8, of which 70 were symptomatic and 170 asymptomatic, the National Health Commission (NHC) said on Thursday.

Market reaction

Risk sentiment remains tepid with most major currency pairs trading in tight ranges ahead of the critical ECB decision. China’s covid and growth worries continue to haunt markets, with S&P 500 futures down 0.21% so far. AUD/USD is pushed towards 0.7150, losing 0.38% on the day.