- Asian equities and commodities rose as traders bet on further liberalisation of the Chinese economy. The currencies of material and energy exporters rose.
- A benchmark index of Asian stocks was on its way to its highest close since August and was approaching a technical bull market. The US dollar fell against the majority of its major counterparts, with notable weakness against the Norwegian krone, as well as the Australian and Canadian dollars.
- For the first time in nearly three months, China's offshore yuan surpassed the 7-per-dollar mark. The Hang Seng China Enterprises Index increased by up to 4%.
- Oil rose on the prospect of increased Chinese demand, as OPEC+ held output steady and sanctions on Russian crude took effect. Iron ore and copper prices have risen.
- Over the weekend, Chinese authorities relaxed Covid testing requirements in major cities, indicating that Beijing is planning a gradual shift away from its strict Covid zero policy in the face of rising cases and public outrage.
