China Stocks Slide as Covid Curbs Temper Reopening Hopes

People cross a pedestrian bridge which displays the numbers for the local stock indexes on Nov. 4 in Shanghai.

(Bloomberg) — Chinese stocks dropped as the nation increased Covid restrictions to curb an outbreak in a key manufacturing hub, dampening hopes of a reopening that had triggered a rally this month.

The Hang Seng China Enterprises Index slid as much as 2.7% early Thursday after falling almost 2% in the previous two sessions. A gauge of Chinese tech stocks in Hong Kong lost more than 3%, with heavyweights Tencent Holdings Ltd. and Alibaba Group Holding Ltd. sliding ahead of their earnings next week.