- After China removed certain virus restrictions, equities in Asia and US futures rose on Monday, and Wall Street enjoyed its best week since November 2020.
- Japanese and Hong Kong stocks led the way higher, while the S&P 500 and Nasdaq 100 contracts also rose, indicating that the rally may have legs left in it. As institutional investors rebalanced portfolios into the end of the month, the S&P 500 erased its losses from May and ended a streak of seven weekly falls.
- China recorded fewer Covid-19 instances in Beijing and Shanghai, prompting the government to ease some of the tightest virus measures in order to boost the economy.
- As the European Union failed to agree on a fresh package of Russian penalties, the dollar remained stable and the euro remained unchanged. Because of the US Memorial Day vacation, cash treasuries will not trade in Asia.
