- A measure of Asian equities rose alongside US and European equity futures, while Chinese stocks sank, pulled down by a weak economic growth objective that dims the chance of additional assistance from Beijing.
- Japan and South Korea led the region's advances, with benchmark markets rising roughly 1%, following the pace set by Wall Street on Friday. US stocks finished the week on a high note, fueled by expectations that the Federal Reserve will not hike interest rates above the already-priced-in peak levels.
- Shares in Hong Kong wavered and lost roughly 0.3% in Shanghai as investors absorbed the ramifications of China's 5% growth target. This set the tone for commodities ranging from iron ore to copper, which fell alongside oil on fears that demand would be weaker than some investors had anticipated.
- Government bond rates in Australia and New Zealand fell, mirroring changes in US treasuries on Friday, when the 10-yr US Treasury note closed back below the carefully watched 4% threshold. In Asia, treasuries were barely changed on Monday. Following a slight uptick earlier, an index of dollar strength fluctuated.
- Investors will continue to closely monitor movements in Chinese equities for clues on the resilience of the country's and Asia's current rising trend. A measure of Asian equities rose 1.5% this week after falling nearly 6% in February.
