SYDNEY : Stocks and oil weakened on Monday as rare protests in major Chinese cities against the country's strict zero-COVID policy raised worries about management of the virus in the world's second-largest economy.
There were also protests in Wuhan, Chengdu and parts of the capital Beijing late Sunday as COVID restrictions were put in place in an attempt to quell fresh outbreaks. "A growing list of cities, including those with large populations, have imposed strong restrictions on movement because of a surge in infections, there will inevitably be a negative impact on economic activity from the restrictions on movement," CBA analysts said on Monday.