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Heading North

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Bull Rally Accelerates

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CHINA
CHINA: A quick look at this morning's TomTom traffic counters for China reveals
a similar story to last Monday for both Shanghai & Beijing, an uptick vs. that
seen at the backend of last week, but still well shy of the typical averages.
More interestingly, Shenzhen has seen the first notable uptick in traffic flows
in the time we have been monitoring the trackers (but once again well shy of the
norm). This comes after widespread state media reports of upticks in business
operation resumptions, although the issue seemingly remains the utilisation rate
i.e. businesses are open, but don't seem to be running anywhere near full
capacity. Small firms seemingly continue to fact the brunt of the issues,
despite policymakers' preference for targeted support measures.
- Foreign firms have also experienced notable headwinds that are well
documented.
- Interesting to note that some have pointed to looser restrictions re:
returning to work, which heightens risk of virus spread, especially given
suggestions that the incubation period maybe somewhat longer than was previously
envisaged.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com