China reported record-high Covid-19 infections on Thursday (Nov 24). Cities nationwide have imposed localised lockdowns which dampens the outlook for the world’s second-largest financial system.

Meanwhile, the brokerage Nomura lower its China Gross Domestic Product forecast for the fourth quarter to 2.4 per cent yr on yr from 2.8 per cent, and lower its forecast for full-year progress to 2.8 per cent from 2.9 per cent, which is much in need of China’s official goal of about 5.5 per cent this yr.

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