German stocks struggled for direction on Wednesday as investors assessed China’s move to ease COVID curbs.
Taking another step towards loosening its pandemic-related restrictions, the Chinese government announced it would start issuing new passports.
The dismantling of anti-virus travel barriers is expected to send an influx of free-spending Chinese tourists to revenue-starved destinations in Asia and Europe for next month’s Lunar New Year holiday.
The benchmark DAX was down 15 points, or 0.1 percent, at 13,979 after rising 0.4 percent in the previous session.
Banks traded weak, with Deutsche Bank falling nearly 1 percent. Automakers BMW, Mercedes Benz and Volkswagen all were down around 1 percent.
The dollar index traded largely flat despite a spike in Treasury yields.
Market Analysis
DAX Struggles For Direction
2022-12-28 09:01:08
