China Shares Fall as Shut Schools Spark Concern on Virus Curbs
- Beijing halts classes at schools as more Covid cases reported
- CSI 300 Index ends 1% lower, led by plunge in China Duty Free
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Chinese shares fell on Tuesday after Beijing suspended classes at some schools due to rising virus cases, deepening concern that the government’s Covid Zero approach will weigh on the nation’s economic recovery and corporate earnings.
The benchmark CSI 300 Index closed 1% lower, with financial and energy stocks leading the drop while consumer discretionary shares also slid. China Tourism Group Duty Free Corp. slumped 7.8%, the worst performer and one of the biggest drags on the main gauge.