China’s daily COVID-19 infections broke through 30,000 for the first time ever as officials struggle to contain outbreaks that have triggered a growing number of restrictions across the country’s most important cities.
There were 31,987 new infections reported for Thursday, up from Wednesday’s record of 29,754. The southern city of Guangzhou reported more than 7,500, while cases in the metropolis of Chongqing topped 6,000. Beijing saw daily infections exceed 1,800 with the record tally and lockdown-like restrictions sparking panic buying in parts of the capital.
The persistently high caseloads have weighed on equity markets. Key Chinese stock gauges in Hong Kong and on the mainland headed for a weekly decline, set to snap a three-week rally.