Stocks slide on Beijing lockdown fears, dollar shines as rate hikes loom

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Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – Asian stocks had their worst session in a month and a half on Monday as fears grew that Beijing was on the verge of joining Shanghai in lockdowns, while the dollar rose to a two-year high on the prospect of slower growth and higher interest rates. MSCI’s broadest index of Asia-Pacific shares outside Japan slid 2.5% to a six-week low and the Chinese yuan skidded to a one-year trough. Oil fell nearly 4%. State television in China reported that residents were ordered not to leave Beijing’s Chaoyang district on Monday after a few dozen cases were detected ove…

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