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Coronavirus Outlook Deteriorates

HONG KONG

Hong Kong has announced it is to lock down part of the Kowloon district due to a worsening coronavirus outlook. According to reports in SCMP the lockdown, the most severe yet in Hong Kong, will start this weekend. Only residents who showed negative Covid-19 test results will be allowed to leave the areas affected. The government will lift the lockdown once everyone in the areas has been tested.

  • The headline has put further pressure on the Hang Seng which last trades down 0.9%, giving back some of the impressive rally seen this week and dipping back below the 30,000 barrier. USD/HKD last down 1 pip at 0.7517.

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