Wugang is a city in Hunan Province. Population under 1 million.

• the reports are that 1 abnormal case was detected in a nucleic acid test

A three day lockdown has been announced.

The important thing is its not about Wugang. The market fear is the imposition of lock downs on a more widespread basis.

Its up to Chinese health authorities to make the call on restrictions. For the market its about the economic impact, which is not a positive.. Lockdowns weigh on China’s domestic economy and also on the global economy more widely.