COVID cases rise again in Shanghai, China, reigniting lockdown fears

It sparked a sell-off in Hong Kong and Shanghai, and losses were also reported in Manila, Taipei, , Jakarta, Wellington, Sydney and Seoul, a global newswire reported.

However, Japan was an exception. Gains were reported from Tokyo as the country’s ruling bloc secured a strong win in Sunday's upper house election.

Chinese businessmen are keenly monitoring developments on the US front as President Joe Biden weighs removing some of the Donald Trump-era tariffs on Chinese goods worth hundreds of billions of dollars.

Fibre2Fashion News Desk (DS)