Unrest in China
US-listed Chinese stocks rebounded after a heavy sell-off, while Apple shares fell after a Bloomberg News report said unrest in China could lead to nearly 6 million iPhone Pro production cuts this year .
China’s woes complicate expectations of its path to reopening the economy, with authorities mobilizing substantial numbers of police in Beijing and Shanghai with the aim of preventing a repeat of the weekend’s protests.
The possibility of an unregulated stop to the zero Covid policy increases, according to the warnings of analysts of the banking group “Goldman Sachs”.
“This will result in weaker economic activity inside and outside the country,” said Fawad Razaqzadeh, market analyst at City Index and Forex.com. impact on investor confidence.” in various financial markets.
Analysts: Unstable path awaits Chinese assets due to protests
Just as the Standard & Poor’s 500 attempted to break out of its mid-November highs, sentiment turned negative, threatening the markets’ recent momentum. The timing here is extremely inappropriate, with the index approaching a very important technical area, in the form of both the bearish wave in 2022 and the 200-day moving average. If the recent rally fades, short-term speculative bearish trading could pave the way for a period of profit taking.
