Hang Seng loses 4.2 percent shortly after opening. Driving the case is investors’ concern that Xi has given key fiscal policy roles to people in the inner circle who stood behind his hard-nosed zero vision regarding covid-19.
In mainland China, the situation is calmer. Shanghai’s composite index retreats 0.7, while the Shenzhen composite index falls by 1 percent.
On the Tokyo Stock Exchange, however, cheerier tones are heard a while after the week’s trading begins.
The key Nikkei 225 index is up 1.2 percent, while the broader Topix index is up 1 percent.