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View all search resultsAsian markets suffer losses on China’s fresh COVID-19 fears
Malaysian ringgit drops after elections offer no winner.
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A
sian markets fell on Monday as China's first COVID-19 death in six months sparked fears officials would reimpose strict, economically painful restrictions to fight outbreaks across the country.
The news threw a spanner in the works for investors who had grown hopeful of a gradual reopening after China eased a number of virus-fighting measures this month.
The death of an 87-year-old man in Beijing on Sunday came as infections across the country spiked, testing authorities' plans to loosen their grip by lowering quarantine times for foreigners and cancelling mass tests.
Beijing has in recent days moved to confine some residents to their homes and ordered others to quarantine centers.
The measures dealt a particular blow to Hong Kong's Hang Seng Index, which fell more than 1 percent, extending a sell-off at the end of last week and eating further into a recent massive rally. Shanghai was also down.
"It feels like one step forward, two steps back," said Willer Chen, at Forsyth Barr Asia.
"It is super hard to reopen in the short term given winter is coming and cases are at a super high level and spreading across the whole country."
