A sudden uptick in the number of sick traders was one reason behind the drop in onshore yuan-dollar spot volumes to the lowest level since April on Monday.
this month, removing almost all restrictions on tracking and isolating patients. While the opening could could provide a longer term boost to the struggling economy, the unexpected COVID-19 shift raises short-term threats of more economic stress. Goldman Sachs president John Waldron said over the weekend that China’s road to reopening could be “bumpy,” posing a further risk to growth for the world’s second-largest economy.
earlier this year, the situation looks to be more contained. Hospitals in the city are posting tips on social media telling people how to cope with an infection, urging them not to come in unless they develop severe symptoms.A spokeswoman for Standard Chartered said it has a continuity plan that covers pandemic outbreaks, and is taking actions to protect health and safety of its employees, without sharing further details.
One fund manager in Shanghai’s Lujiazui financial district is seeking to arrange COVID-19 vaccination for employees, and asked trading and technology support managers to report contingency plans on a weekly basis to ensure business continuity, according to a memo seen by Bloomberg.
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