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Stocks in Hong Kong and in mainland China saw massive sell-offs on Monday amid growing concerns over the economic outlook in the world's second largest economy as Covid-19 outbreak spread to the capital city of Beijing with some areas in the capital coming under lockdown, heightening economic losses.
The benchmark Shanghai Composite Index dived 5.1% to close at 2,928.51, the steepest sell-off since February 2020 and breaking through the psychologically important 3,000 mark for the first time since July . . .
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