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☆ Oil prices dip as dollar strengthens, remain on track for weekly rise
▼ + stars: | 2022-12-02 | by ( Laila Kearney | ) www.reuters.com time to read: +1 min

Dec 1 (Reuters) - Oil prices edged lower in early Asian trade on Friday as the U.S. dollar pared some losses, while easing COVID-19 curbs in two Chinese cities limited losses. The U.S. dollar, which typically trades inversely with oil, edged higher after dipping to 16-week lows against a basket of major currencies following data that showed U.S. consumer spending increased solidly in October. Still, both benchmarks were on track for their first weekly gains after three consecutive weeks of decline, as COVID-19 curbs were eased in two major Chinese cities. read moreAll EU governments must approve the agreement in a written procedure by Friday. Reporting by Laila Kearney in New York; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

HONG KONG — Chinese authorities are moving to ease strict “zero-Covid” controls, in an apparent response to a nationwide wave of protests that have otherwise been suppressed. Police form a cordon in Beijing on Monday during a protest against China’s strict “zero-Covid” measures. Kevin Frayer / Getty ImagesChinese authorities have mostly stamped out the protests, with heavy police presence at protesters’ former gathering sites. Like other Chinese leaders, Jiang showed little tolerance for dissent, jailing activists and banning the Falun Gong religious movement. But the political environment has greatly tightened under Xi, leading some people in China to reassess Jiang’s legacy.

☆ Oil edges higher on tight supply, China demand recovery optimism
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

Dec 1 (Reuters) - Oil prices nosed ahead in early Asian trade on Thursday, lifted by signs of tighter supply and by optimism over a Chinese demand recovery. Brent crude futures rose 5 cents, or 0.06%, to $87.02 per barrel by 0115 GMT while U.S. West Texas Intermediate crude futures rose 16 cents, or 0.2%, to $80.71. read moreCrude oil supply is expected to remain tight. U.S. crude oil stocks plunged by nearly 13 million barrels, the most since 2019, in the week ended Nov. 25, according to the Energy Information Administration. However, U.S. crude oil output surpassed 12 million barrels a day, the highest since before the onset of the coronavirus pandemic, the EIA said.

NO ARCHIVESBEIJING, Dec 1 (Reuters) - China is softening its tone on the severity of COVID-19 and easing some coronavirus restrictions even as its daily case toll hovers near records, after anger over the world's toughest curbs morphed into protests across the country. Health experts warn of widespread illness and death if COVID is let loose before vaccination is ramped up. read moreWhile the recent change in tone over COVID appears to respond to the public discontent with the strictness of the measures, authorities are in parallel seeking out those who were present at the demonstrations. China Dissent Monitor, run by U.S. government-funded Freedom House, estimated at least 27 demonstrations took place across China from Saturday to Monday. Australia's ASPI think tank estimated 43 protests in 22 cities.

☆ Chinese vice premier urges improvements in COVID measures as pathogenicity weakens
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 1 (Reuters) - Chinese Vice Premier Sun Chunlan called for further efforts to improve COVID-19 prevention and control measures, urging "optimisation" of testing, treatment and quarantine policies, as the virus weakens in pathogenicity, according to state media. Her remarks come as cities across China take a more targeted approach to tackle outbreaks, fine-tuning 20 new measures released by the government almost three weeks ago. The government recently announced that it would increase vaccine rates for its elderly and children, the most vulnerable of its population. The cities of Chongqing and Dongguan, also in Guangdong, announced that close contacts of infected patients can also home quarantine. Reporting by Beijing newsroom; Writing by Bernard Orr; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ China records drop in new daily COVID cases for Nov. 28
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

On Monday, China posted a record daily high of 40,347 cases – 3,822 symptomatic and 36,525 asymptomatic infections, which China counts separately. As of Nov. 28, mainland China had confirmed a total of 315,248 COVID cases with symptoms. On Monday, China's capital Beijing reported 957 symptomatic and 3,429 asymptomatic cases, compared with 840 symptomatic and 3,048 asymptomatic cases the previous day, local government data showed. Financial hub Shanghai reported 20 symptomatic cases and 158 asymptomatic cases, compared with 16 symptomatic cases and 128 asymptomatic cases a day before, the local health authority reported. Chongqing reported 209 new symptomatic locally transmitted COVID-19 infections and 8,583 asymptomatic cases, compared with 238 symptomatic and 9,447 asymptomatic cases the previous day, local government authorities said.

☆ China's Covid infections drop for the first time in more than a week
▼ + stars: | 2022-11-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Covid control workers disinfect an area in Beijing on Monday, Nov. 28, 2022, where a day earlier locals had gathered to protest stringent Covid measures. BEIJING — Mainland China reported the first decline in daily Covid infections in more than a week on Monday. Local infections fell in Guangdong and Chongqing, two of the hardest-hit regions in the latest Covid wave. But the capital city of Beijing saw infections rise Monday from a day earlier, as did Shanghai, albeit at a far smaller scale. Over the weekend, students and groups of people across China held public demonstrations to protest the country's stringent zero-Covid policy.

☆ China reports another daily record of COVID cases as protests ripple across China
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

That compares with 39,791 new cases a day earlier – 3,709 symptomatic and 36,082 asymptomatic infections, which China counts separately. Excluding imported infections, China reported 40,052 new local cases, of which 3,748 were symptomatic and 36,304 were asymptomatic, up from 39,506 a day earlier. China's capital Beijing reported 840 symptomatic and 3,048 asymptomatic cases on Sunday, compared with 747 symptomatic and 3,560 asymptomatic cases the previous day, local government data showed. Financial hub Shanghai reported 16 symptomatic cases and 128 asymptomatic cases, compared with 11 symptomatic cases and 119 asymptomatic cases a day before, the local health authority reported. Chongqing reported 238 new symptomatic locally transmitted COVID-19 infections and 9,447 asymptomatic cases, compared with 194 symptomatic and 8,667 asymptomatic cases the previous day, local government authorities said.

☆ Gold dips as dollar gains on China Covid risks
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict Covid-19 restrictions. "Gold prices have been tracking the U.S. dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," said IG market strategist Yeap Jun Rong. People may be shifting to defensive assets considering the Covid situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap said. Spot silver slipped 1.8% to $21.21, platinum fell 0.3% to $978.00 and palladium declined 0.3% to $1,846.94.

☆ Gold dips as dollar gains on China COVID risks
▼ + stars: | 2022-11-28 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies Dollar index up 0.4%Powell's speech on Wednesday awaitedNov 28 (Reuters) - Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict COVID-19 restrictions. Spot gold was down 0.4% at $1,749.00 per ounce, as of 0314 GMT. The dollar index was up 0.4%, making the greenback-priced bullion more expensive for buyers holding other currencies. "Gold prices have been tracking the U.S. dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," said IG market strategist Yeap Jun Rong. People may be shifting to defensive assets considering the COVID situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap said.

☆ China COVID cases hit fresh record high after weekend of protests
▼ + stars: | 2022-11-28 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +4 min

REUTERS/Thomas PeterBEIJING, Nov 28 (Reuters) - China posted another record high COVID-19 infections on Monday, after an extraordinary weekend of protests across the country over restrictive coronavirus curbs, in scenes unprecedented since President Xi Jinping assumed power a decade ago. The deadly fire fuelled speculation that COVID curbs in the city, parts of which had been under lockdown for 100 days, had hindered rescue and escape, which city officials denied. China has stuck with Xi's zero-COVID policy even as much of the world has lifted most restrictions. China on Monday reported a fifth straight daily record of new local cases of 40,052, up from 39,506 a day earlier. Reporting by Martin Pollard; Writing by Tony Munroe and Brenda Goh; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ China reports third consecutive daily record for new COVID cases
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +1 min

That compared with 32,943 new cases a day earlier – 3,103 symptomatic and 29,840 asymptomatic infections, which China counts separately. Excluding imported cases, China reported 34,909 new local cases on Friday, of which 3,405 were symptomatic and 31,504 were asymptomatic, up from 32,695 a day earlier. Chongqing, a southwestern city of 32 million people, reported 7,721 new local cases for Friday, a jump of almost 20% from the previous day. Guangzhou, a prosperous city of nearly 19 million people in southern China, reported 7,419 new local cases for Friday, down slightly from 7,524 cases a day earlier. New local cases for Friday in the capital Beijing jumped 58% to 2,595, according to figures released by local health authorities on Saturday.

☆ China reports third consecutive daily record for new Covid cases
▼ + stars: | 2022-11-26 | by ( ) www.cnbc.com time to read: +1 min

☆ China’s Meituan beats revenue estimates, swings to profit
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

Meituan, whose services also include restaurant reviews and bike-sharing, said total revenue rose to 62.62 billion yuan ($8.74 billion) in the three months ended September, compared with analysts' average estimate of 61.79 billion yuan, according to Refinitiv data. The company swung to a quarterly profit of 1.22 billion yuan from a loss of 9.99 billion yuan a year earlier, as it pulled the brakes on heavily funding its new initiatives. Sales from new initiatives, including its community e-commerce business Meituan Select, grew by 39.7% year-on-year to 16.29 billion yuan. Revenue from core local commerce, which includes food delivery and in-store, hotel and travel businesses, rose 24.6% to 46.33 billion yuan. ($1 = 7.1615 Chinese yuan renminbi)Reporting by Yingzhi Yang and Brenda Goh;Editing by Mark Potter and Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

☆ China reports new daily record COVID cases, curbs tighten across country
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Nov 25 (Reuters) - China on Friday reported another record high of daily COVID-19 infections, as cities across the country enforce measures and curbs to control outbreaks. Excluding imported infections, China reported 32,695 new local cases on Thursday, of which 3,041 were symptomatic and 29,654 were asymptomatic, up from 31,444 a day earlier. China's capital, Beijing, reported 424 symptomatic and 1,436 asymptomatic cases on Thursday, compared with 509 symptomatic and 1,139 asymptomatic cases the previous day, local government data showed. Financial hub Shanghai reported nine symptomatic cases and 77 asymptomatic cases on Thursday, compared with nine symptomatic cases and 58 asymptomatic cases a day before, the local health authority reported. Chongqing reported 258 new symptomatic locally transmitted COVID-19 infections and 6,242 asymptomatic cases for Thursday, compared with 409 symptomatic and 7,437 asymptomatic cases the previous day, local government authorities said.

☆ Beijing grinds to a near halt as China's capital city battles Covid with more lockdowns
▼ + stars: | 2022-11-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Covid restrictions have tightened in Beijing while infections keep soaring, prompting lockdowns of communities. Jade Gao | Afp | Getty ImagesBEIJING — China's capital city is grinding to a near standstill as Covid controls spread. Beijing city government did not immediately respond to a request for comment. watch nowLocal infections have surged despite gradual tightening of Covid measures over the last two weeks. Beijing city reported more than 1,800 Covid infections for Thursday, bringing the total for the month to well over 10,000.

☆ China's daily COVID cases hit record high
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

Excluding imported cases, the number of new local cases was 31,444 on Nov. 23, of which 3,927 were symptomatic and 27,517 were asymptomatic, health authorities said on Thursday. That number broke the previous record set on April 13, when local cases hit 29,317. China's capital Beijing reported 509 symptomatic new locally transmitted COVID-19 infections and 1,139 asymptomatic cases for Nov. 23, local government data showed, compared with 388 symptomatic and 1,098 asymptomatic cases the day before. Financial hub Shanghai reported nine symptomatic cases and 58 asymptomatic cases, compared with 15 symptomatic cases and 53 asymptomatic cases a day before, the local health authority reported. Chongqing reported 409 new symptomatic locally transmitted COVID-19 infections and 7,437 asymptomatic cases, compared with 215 symptomatic and 6,728 asymptomatic cases the previous day, local government authorities said.

☆ Mainland China's total daily Covid cases soar above Shanghai lockdown highs
▼ + stars: | 2022-11-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Mainland China reported more than 31,000 Covid infections for Wednesday, including cases without symptoms. However, daily Covid infections with symptoms remain well below the high seen in April. Nearly 90% or more of total Covid cases reported in recent days have been asymptomatic, the data showed. But nearly all of China's 31 province-level regions have reported new Covid infections, with and without symptoms, each day. watch nowChina this month trimmed quarantine times and has announced other measures to try to make Covid controls more targeted.

☆ Shanghai cancels auto event as rising COVID cases add to reopening worries
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +3 min

The rise in cases is testing China's resolve to stick to recent tweaks recently made to its COVID rules, putting pressure on local authorities to stamp outbreaks without one-size-fits-all measures such as mass lockdowns. Chengdu, with 428 cases on Tuesday, became the latest city to announce mass testing from Nov. 23 to Nov. 27. The capital Beijing, where 1,486 cases breached another daily high, was largely a ghost town with malls, restaurants and parks staying shut. RISING CASES, MASS TESTING - AGAINWhile China's infection numbers are low by global standards, the country continues to stick with its outlier zero-COVID approach, fuelling widespread public frustration and inflicting damage on the world's second-largest economy. Reporting by Beijing and Shanghai newsrooms; Writing by Bernard Orr; Editing by Muralikumar Anantharaman and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

☆ China's Baidu says it expects 'limited' impact from U.S. chip curbs
▼ + stars: | 2022-11-23 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

"We think the impact is quite limited in the near future," Dou Shen, executive vice president and head of Baidu AI Cloud, said of the U.S. chip export controls. Chinese tech company Baidu expects that impact from U.S. chip sanctions on its businesses will be "limited," a company executive said on Tuesday during a Q&A session of its third quarter earnings call. In October, the United States imposed export controls limiting American businesses from selling semiconductors and chipmaking equipment to Chinese chip manufacturers. "A large portion of our AI Cloud business and even wider AI business does not rely too much on the highly advanced chips," said Shen. "And for the part of our businesses that need advanced chips, we have already stocked enough in hand to support our business in the near term," he said.

REUTERS/Thomas PeterBEIJING, Nov 22 (Reuters) - Beijing shut parks and museums on Tuesday while more Chinese cities resumed mass testing for COVID-19, as China fights a fresh nationwide spike in cases that has deepened concerns about its economy. In the capital Beijing, cases have hit a fresh record high, prompting calls for more residents to stay put. There were two new deaths attributed to COVID-19, compared with three over the weekend, which were China's first since May. Beijing reported 1,438 new local cases, up from 962 on Sunday. "Reopening could be back and forth as policymakers may back down after observing rapid increases in cases and social disruptions.

☆ Several Beijing districts shut schools as China COVID cases rise
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +4 min

China is fighting numerous COVID-19 flare ups, from Zhengzhou in central Henan province to Chongqing in the southwest and for Sunday reported 26,824 new local cases, nearing April's peaks. It also recorded two deaths in Beijing, up from one on Saturday, which was China's first since late May. It also suspended dine-in services and shut night clubs and theatres in Tianhe, home to the city's main business district. This sparked worry among some local residents. The capital Beijing reported 962 new infections, up from 621 a day earlier.

☆ China COVID cases steady as many Beijing businesses, schools shut
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: +3 min

Authorities also said an 87-year-old Beijing man became the nation's first official COVID-19 fatality since May 26, raising China's coronavirus death toll to 5,227. China continues to reiterate its commitment to zero-COVID-19, a signature policy of President Xi Jinping that the central government argues saves lives. In the latest tallies, Beijing city reported 621 new infections for Saturday, up from 515 a day earlier. Guangzhou, a southern city of nearly 19 million people, reported 8,434 new locally transmitted infections, down from 8,713 a day earlier. The southwestern metropolis of Chongqing reported 4,710 new locally transmitted infections, compared with 4,744 a day earlier.

☆ Covid curbs set off rare unrest in Chinese city of Guangzhou
▼ + stars: | 2022-11-16 | by ( ) www.nbcnews.com time to read: +3 min

BEIJING — Crowds of people in the southern Chinese city of Guangzhou crashed through Covid barriers and marched down streets in chaotic scenes on Monday night, according to videos posted online, in a show of public resentment over coronavirus curbs. Neither the Guangzhou city government nor the Guangdong provincial police responded to Reuters’ requests for comment. Monday night’s scenes from Guangzhou were the latest outpouring of frustration over Covid curbs that have brought frequent lockdowns and enforced quarantines under a signature policy of President Xi Jinping that China argues saves lives. Last month, a Covid outbreak at a massive Foxconn plant that makes Apple iPhones in Zhengzhou set off chaos, with many workers fleeing, including by climbing fences, hobbling production. “It would become a testing point regarding the government’s determination to push for the relaxation of Covid control measures,” they said.

"It would become a testing point regarding the government’s determination to push for the relaxation of COVID control measures," they said. China reported 17,772 new local COVID-19 infections for Nov. 14, up from 16,072 new cases a day earlier and the most since April, with major cities including Chongqing and Zhengzhou among the worst-hit. On Monday, Beijing's most populous district of Chaoyang, where most of its cases are located, moved some testing sites closer to residential compounds. On Tuesday, state broadcaster CCTV said Chaoyang district was adding more testing sites, including near office buildings. Under China's new rules, testing efforts are to be more targeted, easing what has been a significant financial burden on cities.

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