Stocks in China dropped 5 per cent on Tuesday, taking losses for the year close to 20 per cent in a fresh burst of nerves over surging coronavirus cases.
The CSI 300 index of Shanghai and Shenzhen-listed shares closed 4.6 per cent lower, the declines exacerbated by reports that Beijing had signalled its willingness to supply Russia with military assistance to support its invasion of Ukraine.
Hong Kong’s benchmark Hang Seng index dropped almost 6 per cent to its lowest closing level since 2016, while the city’s China Enterprises index of large and liquid Chinese stocks shed 6.6 per cent.
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