- Most Asian markets sank, pressured by a pullback in Hong Kong, while US equity futures swung back and forth as investors weighed the implications of a global wave of monetary tightening to combat high inflation.
- As the city's market reopened following the holiday, an Hong Kong gauge of Chinese technology firms fell almost 2%. Japan's and China's stock exchanges are both closed.
- The stock of Alibaba fell 9% after a state TV reported that officials in Hangzhou, where Alibaba and Ant are based, imposed compulsory limits on an individual named Ma.
- Last week, China pledged support for so-called platform companies, raising hopes for a lighter regulatory approach to internet companies. According to a report, the Chinese government may demand a 1% share in the country's largest computer enterprises as well as a direct influence in corporate decisions.
- In Australia, where the central bank is likely to raise interest rates for the first time since 2010, stocks moved. Prior to the judgement, the Australian debt fell and the local currency rose.
- Treasury yields dipped on Monday, bringing the 10-yr yield to 3% and real yields back over zero. Due to the Japanese holiday, there is no cash transactions in Asia.
- Investors are expecting the Federal Reserve to raise interest rates for the first time since 2000 on Wednesday, one of many central bank decisions this week. The dollar index fell, although it was still close to a two-year high.
