SHANGHAI, Nov 28 Reuters Chinese stocks on Monday saw the worst day in a month, as recent monetaryeasing measures failed to offset investor worries about protests against strict COVID19 curbs in the world39;s secondlargest economy, while the yuan weakened versus the dollar.
A U.S. crackdown on Chinese tech giants citing national security concerns also weighed on shares of technology firms.
Nevertheless, the social unrest and rising coronavirus cases had fuelled expectations of an earlier end to China39;s zeroCOVID policy, putting a floor under stocks and boosting tourism and consumer shares.
China39;s bluechip CSI 300 Index closed down 1.1, after slumping as much as 2.7 earlier in the day, logging the biggest daily decline since Oct. 28. Hong Kong39;s Hang Seng Index lost 1.6.
Amid the worries, stock investors took little cheer from a central bank decision on Friday to cut banks39; required reserve ratio RRR in a bid to aid the struggling economy. The widely expected RRR cut did however add downward pressure on the Chinese currency.
The onshore yuan weakened as much as 1.1 to 7.2435 per dollar at one point, the softest level since Nov. 10, and ended its domestic session trading at 7.1999.
The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category. It means investors will become more riskaverse, said Gary Ng, economist at Natixis.
The wave of civil disobedience is unprecedented in mainland China since…