VOT Research Desk
Chinese markets are crashing due to the possibility of the Chinese Communist Party losing control. Protesters enraged by tough anti-virus measures demanded the resignation of China’s powerful leader, and markets opened risk-off.
Authorities fought to put down protesters in at least eight locations on Sunday, representing a rare direct threat to the ruling Communist Party.
Police used pepper spray to disperse demonstrators in Shanghai who demanded Xi Jinping’s resignation and the end of one-party rule.
The primary contract for the FTSE China A50 Index fells by more than 3%. The Hang Seng Index is down 3.26%, the Tech Index is down 4.5%, tech stocks are down -7%, and Tencent, Meituan, and are down 5%.
The AUD/USD has broken through important trend – line support.
