Equities, oil prices slide on China unrest

Stocks and oil prices fell on concerns about protests across China calling for political freedoms and an end to the government s hardline zero-Covid policy, fuelling uncertainty in the world s number-two economy.

Hundreds of people took to the streets in China at the weekend in the country s biggest demonstrations since pro-democracy rallies in 1989 were crushed.

"Unrest in major cities in China has destabilised risk-on markets including oil which is under pressure, pushing BP and Shell towards the bottom of the UK index," noted Victoria Scholar, head of investment at Interactive Investor.

China-linked stocks took the brunt of selling in Asia, with Hong Kong s Hang Seng Index closing down more than one percent and Shanghai off 0.8 percent. The yuan slipped by around one percent. Paris, London and Frankfurt all ended in the red Monday while Wall Street also lost ground. "Sentiment has turned sour as unrest across China grows," said SPI Asset Management s Stephen Innes.