While the world is still transfixed by Ukraine developments, China has reported a significant resurgence in COVID cases. Case loads are still relatively small compared to some other countries. However, the economic effects of anti-COVID measures in China are amplified because of their zero-COVID policy.
Shenzen is already under lockdown. If it spreads, there will certainly be deleterious effects on the Chinese economy and even the global economy. There is no need for major alarm now, but traders need to monitor this closely.