Bloomberg Fears about the economic toll of China’s strict Covid Zero policy intensified on Monday, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumbling. The benchmark CSI 300 Index closed nearly 5% down to the lowest level since April 2020, wiping out gains from a sweeping March pledge by officials to support the economy. ...

  Bloomberg India’s decision to go ahead with a much-reduced target for its vaunted life insurer’s initial public offering, as skittish investors continue to pull money from the South Asian nation, is adding to the risks threatening the nation’s fiscal deficit target. Life Insurance Corporation of India’s (LIC) board approved selling a 3.5% stake for about 210 billion rupees ($2.8 ...

Bloomberg Billionaire Mukesh Ambani abandoned a plan to buy a teetering Indian retailer amid protracted legal challenges from Amazon.com Inc., potentially ending one episode of the broader clash between the two titans to control the country’s billion-people-plus market. In a filing, Reliance Industries Ltd. said its proposal to acquire certain assets of Mumbai-based Future Group — which ran the nation’s ...