Stocks, China Assets Face Rough Open as Covid Unrest Hits Mood

The dramatic turn of events adds fresh uncertainties to the outlook of the world’s No. 2 economy and its markets, just as some recent loosening of virus controls and sweeping property rescue efforts have helped Chinese stocks stage a remarkable rebound. The protests, triggered by a deadly fire in an apartment block under lockdown in a western city, also threaten to further dilute a moderate, well-anticipated monetary easing step by China’s central bank Friday.