- Asian equities rose on Monday, helped by the biggest weekly gain in US stocks since June and China's policy shifts on commodity curbs and the real estate sector.
- A regional share index is on track to reach its highest level in more than two months, spurred by a sustained rally in Hong Kong and mainland China. Contracts for the S&P 500 and the Nasdaq 100 fell as the dollar rose.
- Softbank stock dropped more than 10% after the company failed to announce a highly anticipated stock buyback.
- The surge in Chinese markets comes as an easing of quarantine rules fuels speculation that Beijing is abandoning its stringent Covid zero policy. broad property deregulation measures bolstered concerns that China’s President Xi had shifted his focus to economic rescue, sending developer shares and dollar bonds higher.
- The dollar fell on Monday after Fed's Waller said policymakers still had a ways to go before ending interest rate hikes.
- While Fed's Waller believes the hike cycle will continue for some time, he believes the Fed will consider a 50 bps move at the next meeting in December or the one after that.
- The dollar index declined more than 1% on Friday and fell for the fourth week in a row, its worst performance since 2020.
