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The Latest Breaking News from Shanghai

Asian shares slip after rate jitters pull Wall Street lower

Shares are mostly lower in Asia, with only Shanghai rising, after stocks tumbled on Wall Street on expectations central banks will focus on battling inflation with interest rate hikes

The Independent UK

China's Xi backs zero-COVID policy as Shanghai expands mass testing

President Xi Jinping said China must stick "unswervingly" to its zero-Covid strategy, as more than half of Shanghai's 25 million lockdown-weary residents gird Friday for a weekend virus testing drive. China is the last major economy still pursuing a policy of stamping out all outbreaks, wielding snap lockdowns, mass testing…

Asharq Al-Awsat

Xi Jinping says ‘persistence is victory’ as Covid restrictions return to Shanghai and Beijing

Both cities back on high alert, with new lockdowns in Shanghai , and the shutdown of entertainment venues in Beijing

The Guardian - AU

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Shanghai to lock down millions again for mass COVID testing

China's commercial hub of Shanghai will lock down millions of people for mass COVID-19 testing this weekend - just 10 days after lifting its gruelling two-month lockdown - unsettling residents and raising concerns about the business impact.

Reuters

China: Made In China Tesla EV Sales Recovered In May 2022

The Tesla Giga Shanghai plant in China appears to be gradually recovering its production of sales, although the results are not yet on par with the pre-lockdown level.

InsideEVs

Why Bilibili Shares Are Plunging Today

Bilibili Inc (NASDAQ:BILI) reported first-quarter FY22 revenue growth of 30% year-on-year to $797.3 million, beating the consensus of $757.6 million. Drivers: Average monthly active users (MAUs) increased 31% Y/Y to 293.6 million, and Mobile MAUs rose 33% Y/Y to 276.4 million. Average daily active users (DAUs) climbed 32% Y/Y to 79.4 million, and Average…

Benzinga

Shanghai to conduct mass COVID testing in 7 of its 16 districts at weekend

The Chinese commercial hub of Shanghai will carry out mass testing for COVID-19 in seven districts over the weekend, a local health official said on Thursday.

Reuters

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Covid news - live: Infections rise for first time in two months with fears of new wave

Health chief says it is ‘very, very difficult’ to say how big or serious wave might be

The Independent UK

Covid news - live: New lockdown in Shanghai as China tests 2.7 million people

Minhang district will be subject to a ‘closed management’ order from Saturday

The Independent UK

Virus testing the new normal as China sticks to 'zero-COVID'

Thousands of COVID-19 testing booths have popped up on sidewalks across Beijing and other Chinese cities in the latest twist to the country’s “zero-COVID” strategy

The Independent UK

Shanghai to Lock Down and Test 2.7 Million as Covid Fears Linger

Shanghai will lock down a district of 2.7 million people on Saturday to conduct mass coronavirus testing, city authorities said, as the Chinese metropolis struggles to fully emerge from punishing curbs. The city eased many restrictions last week, after confining most of its 25 million residents to their homes since…

Asharq Al-Awsat

Shanghai Composite Index Fell 0.76% on Thursday

Shenzhen Component Index closed down 1.85%

Caixin Global

Disney's Shanghai Resort To Reopen Some Sections After 2-Month Shutdown

Amid the easing COVID-19 restrictions in China, Walt Disney Co's (NYSE: DIS) Disney Resort in Shanghai is set to reopen some retail and park areas from Friday.

Benzinga

China's trade rebounds in May as anti-virus curbs ease

China’s trade growth rebounded in May after anti-virus restrictions that shut down Shanghai and other industrial centers began to ease

The Independent UK

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Reuters

Shanghai Disney Resort to reopen some areas, main park and hotels remain closed

Shanghai Disney Resort said it will reopen some retail and park areas from Friday but the main Disneyland park, Disneytown and its two resort hotels will remain closed until further notice.

Reuters

China COVID jitters flare up as parts of Shanghai resume lockdown

(Corrects June 9 story to clarify that Minhang will lock down during testing that will happen on Saturday, not from Thursday until the testing is over)

Caixin Global

Shanghai Heightens Covid Restrictions After a Spike in Cases Sparks Concern

The city reimposes lockdowns on some residential neighborhoods after determining the virus is once again spreading outside quarantined areas

Caixin Global

Shanghai Composite Index Rose 0.68% on Wednesday

Shenzhen Component Index closed up 0.82%

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Caixin Global

Shanghai Composite Index Rose 0.17% on Tuesday

Shenzhen Component Index finished nearly flat

Benzinga

What's Going On With Tesla Stock Today?

Tesla Inc (NASDAQ: TSLA) shares are trading higher Monday amid the reopening of Shanghai. Shanghai began easing lockdown measures at the start of June and has since ramped up its reopening efforts amid a sharp decline in daily Covid cases.

The Independent UK

Asian stocks rise as survey shows Chinese services reviving

Major Asian stock markets are higher after Wall Street declined and a survey showed the downturn in Chinese service activity eased as anti-virus controls on Shanghai and other major cities were lifted

ABC News

Shanghai's mental health crisis will linger despite strict lockdown being lifted, health workers say

Shanghai residents are celebrating the end of one of the world's strictest lockdowns. But while the harshest restrictions are over, health workers say another health crisis isn't likely to end anytime soon.

The Independent UK

Elon Musk has ‘super bad feeling’ about economy and wants to cut 10% of Tesla jobs

Tesla has struggled to restart production at its Shanghai factory after Covid restrictions

Benzinga

Warren Buffett-Backed BYD Continues To Outperform EV Rivals In May

Chinese new energy vehicle maker BYD Co (OTC: BYDDY) said on Thursday that sales of its battery-powered vehicle more than doubled in May despite nearly a two-month COVID-19 lockdown in Shanghai which disrupted supply chains and hit production for many of its rivals.

The Guardian - AU

‘Apocalypse mentality’, ‘revenge spending’ and an exodus in newly free Shanghai

City revels in freedoms after two months of lockdown but happiness is punctuated by fears that restrictions could return

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