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Weekly Market Wrap: Market falls after four-week winning streak amid fresh geopolitical tensions, rising trade deficit

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China s industrial profits fall for second month in May on COVID-19 curbs

60 new local COVID-19 cases registered in China

According to a report released  on Tuesday by the National Health Commission, China reported 60 locally disseminated validated COVID-19 cases in the last 24 hours, including 15 in the Inner Mongolia Autonomous Region, 42 in Beijing, and three in Shanghai.

Covid-19: Chinese market slumps nearly 7%; here s how other Asian indices fared

The latest surge in Covid-19 cases in China has affected its stock market adversely. On March 7, Chinese stock market fell to a 20-month low as the country reported the highest number of daily new local symptomatic Covid-19 infections in about two years. The Shanghai Composite which stood at 3,447 on March 4 slipped to its lowest in 20 months at 3,372 on March 7. Since then, the Chinese stock index has lost 228 points or 6.61 per cent to 3,219 till date. Mainland China on March 7 reported 214 new cases of infection over the previous 24 hours.

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