Chinese stocks grind lower but not as much as their Asian counterparts
The CSI 300 index closes lower by 0.4% while the Shanghai Composite closes lower by 0.3% to start the new week. Despite the virus outbreak reportedly getting better in China, the same can't be said for developments overseas.
The spike in the number of cases in South Korea and Italy is what is concerning investors today and that is hurting risk appetite for the most part ahead of European trading.
Despite China's claims that the situation is improving, the fear would be complacency possibly leading to a secondary outbreak. At this stage, I wouldn't pay much attention to China's numbers because they have decided what the narrative will be already.
Instead, just continue to keep an eye out on stimulus measures for a sense of how well/badly China is still coping with the situation on the ground.
