- China's Omicron response impacts new business
- Central costs pull back markedly
Prudential (PRU) hasn’t been subject to criticism of its corporate governance in the same manner as FTSE 100 stablemate HSBC (HSBA), but where their businesses do overlap is their focus on Asia Pacific markets, especially China.
The Far East presents tremendous opportunities, but the Chinese government’s obsession with eradicating Covid-19 has stifled business – and matters are far from settled on the clinical front. Authorities in Beijing are now racing to stamp out Omicron outbreaks in the tourist hubs of Tibet and Hainan. It’s like a viral version of whack-a-mole.