2022-11-25 08:41:10

Asian Shares Mixed As China's COVID Cases Hit Record

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Nasdaq
By Rtt News

(RTTNews) - Asian stocks slipped on Friday but posted weekly gains on optimism over a less hawkish Fed. A cautious undertone prevailed amid concerns over record-high domestic daily COVID-19 cases in China.

China's Shanghai Composite index rose 0.40 percent to 3,101.69 after a choppy session as the country grappled with increasing lockdowns that have fueled frustration among the population.

Videos posted on social media showed violent clashes in iPhone City Zhengzhou, which plays a key role in the technology supply chain.

Property developers topped the gainers list after China's biggest commercial banks pledged at least $162 billion in fresh credit to the beleaguered sector.

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