BEIJING: China stocks closed down on Monday, as COVID-19 uncertainties sparked worries of fresh outbreaks and lockdowns, while high-flying US inflation raised concerns that the Federal Reserve will continue to tighten policy and cause a sharp slowdown.
The blue-chip CSI300 index fell 1.2 percent to 4,189.35, while the Shanghai Composite Index lost 0.9 percent to 3,255.55 points.
German trade with China largely unaffected by lockdowns — stats office
German trade with China in April was little affected by COVID-19 lockdowns and consequent disarray in supply chains, the Federal Statistics Office said on Monday.
Germany imported goods worth 16.7 billion euros ($17.5 billion) from China in April, up 52.8 percent on a year earlier, said the statistics office. Importation of chemical products, up six-fold, particularly drove the increase, but other product groups also rose considerably.
Exports to China in April, on the other hand, were down 1.5 percent from a year before at 8.3 billion euros, according to the office.
“German foreign trade in April 2022 was still largely unaffected by the Covid-19 lockdowns in the People’s Republic of China and the related disruptions in freight transport,” it said.
Imports from Russia also rose sharply for a second consecutive month since the beginning of the war in Ukraine, growing by 41.9 percent to 3.7 billion euros in April, said the office.
Crude oil and natural gas were the most important import goods from Russia, growing in value by 37.8 percent to 2.2 billion euros, said the office.
(With input from Reuters)
