Associated Press
World shares mixed, Hong Kong index dives 5.4%
World shares were mixed Monday while Hong Kong’s Hang Seng index plunged 5% after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak in two years. The spreading virus outbreaks in China are compounding worries over supply chain disruptions both from the pandemic and from the war. A vital manufacturing and technology hub of 17.5 million people, Shenzhen is home to some of China’s most prominent companies, including telecom equipment maker Huawei Technologies Ltd., electric car brand BYD Auto, Ping An Insurance Co. and Tencent Holding, operator of the popular WeChat message service.
