Hundreds of protesters and police clashed in Shanghai on Sunday evening (November 27) when protests against China’s strict Covid-19 blockade orders broke out for the third day in a row and spread to a number of cities.
Shares of companies with large manufacturing bases in China are also under pressure. Apple shares fell 2.6% after Bloomberg reported unrest at a factory in China could mean iPhone Pro production this year could be less than 6 million units.
In mainland China, the CSI 300 index plunged 2.8%, while the benchmark bond yield rose 1 basis point to 2.83%. Meanwhile, the renminbi fell 1% to 7.2399 to the dollar.