COVID Resurgence in China Sparks Trading Volume Slowdown Concerns

A fresh wave of COVID-19 is spreading through China, reaching trading floors and raising concern of an impact to trading volume. COVID-19 swept through trading floors in capital Beijing and the financial hub of Shanghai in December just as China was reopening its economy after three years of stringent containment measures, with illness and absence thinning trading volume and forcing regulators to reschedule meetings. Traders said they expected less impact this time. In China's interbank market, average daily U.S. dollar/yuan trading volume has slowed only slightly.