- Losses in Hong Kong and China drove Asian markets lower, owing to concerns over tougher regulation of the casino industry and concerns that the Chinese government's efforts to boost the economy are insufficient. The dollar rose somewhat.
- The Hang Seng Tech Index fell as much as 3.3%, on track for its lowest closing since November 2022. Tencent fell as much as 2.4% in Hong Kong, despite JPMorgan saying its present price is attractive.
- Despite a recovery in global stocks over the last two months of 2023, investor sentiment in China remains quite negative, according to Nomura analysts including Chetan Seth in Singapore in a client note.
- Benchmark stock indices fell in South Korea and Australia, but climbed in Taiwan. US equity futures were little changed after the S&P 500 finished modestly higher on Friday, with payroll growth above estimates but the service sector slowing. The Japanese financial markets are closed for the Christmas season.
