COVID Resurgence in China Sparks Trading Volume Slowdown Concerns

A fresh wave of COVID-19 is spreading through China, reaching trading floors and raising concerns about an impact on trading volume. However, traders expect less impact this time as there is no longer quarantine of cases and close contacts. China's interbank market has seen only a slight slowdown in average daily U.S. dollar/yuan trading volume. While the number of severe cases in hospitals did not increase significantly, China's health authority said case numbers had risen as travel spiked during the five-day Labor Day break through May 3.