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Chinese Stocks Drop as Covid Protests Intensify, Cases Surge

Chinese Stocks Drop as Covid Protests Intensify, Cases Surge

Shares in mainland China and Hong Kong slid on Monday, after protests against the country’s zero-tolerance approach to Covid-19 gathered steam. Hong Kong’s benchmark Hang Seng Index, which is dominated by Chinese stocks, was down more than 4% after the market opened. Widespread demonstrations, which are rare in mainland China, were held in several large cities including Beijing, Shanghai and Wuhan during the weekend.