European markets are heading for a lower open on Monday as investors keep a close eye on unrest in China as the public demonstrates against Covid lockdowns.
China is most likely to reopen around April next year after the National People's Congress takes place, but there's a chance that authorities reopen earlier due to difficulties in keeping Covid cases under control, according to Goldman Sachs."There is also a 30% probability of earlier reopening precisely because of the difficulty in keeping Covid under control, and the lack of medical preparation suggests it could be quite a messy process," she said.
She said that policymakers need to weigh out the costs and benefits of the stringent Covid restrictions as protests take place across the country.
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