A district in Guangzhou has extended its lockdown (and Chinese shares are gaining)

The news out of China for equities and other risk assets has not been positive:

Earlier:

• Weekend China news - on Saturday health officials confirmed zero COVID still in place
• ICYMI - China denied an end to COVID zero on Saturday. The US dollar is higher on Monday
• Chinese state financial media criticizes rumours of end zero COVID - urges legal response
• Apple has said that COVID restrictions in China are hurting iPhone production

Reopening is coming, but not any time soon:

• Goldman Sachs on China's COVID reopening - signs are there but its still many months away

And, this a few minutes ago:

• China's new COVID cases rising in latest reports. Zero policy will be here for some time.

Chinese stock markets don't care. Hong Kong's Hang Seng opened lower and is surging, up 2% or so!