China In-Focus — Shares drop; Russian oil imports soar; Sequoia China raises $9bn

RIYADH: Shanghai shares dropped the most for six weeks on Wednesday, as China continued to grapple with COVID-19 flare-ups, while energy stocks tracked a sell-off in the global oil market.

The Shanghai Composite Index fell 1.4 percent, the biggest one-day percentage fall since May 24. The blue-chip Index lost 1.5 percent, while Hong Kong’s benchmark Hang Seng Index weakened 1.2 percent.

Russian crude oil imports soar