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Japan -0.56%.
China -1.39%. China’s major stock indices and its currency have opened sharply lower Monday, as widespread protests against the country’s stringent Covid-19 restrictions over the weekend roiled investor sentiment.
There were widespread protests in China on the weekend over Chinese Communist Party heavy-handed lockdowns, censorship, and mismanagement of the COVID crisis.
The People’s Bank of China over the weekend announced to cut the reserve requirement ratio for banks by 25 basis points to 7.8% and inject around 500 billion yuan in long-term liquidity.
Hong Kong -2.35%.
Australia -0.42%. Australian data – October retail sales fall 0.2% m/m (vs. expected +0.5%).
India +0.32%.
Oil futures fell more than $2 a barrel on Monday, with WTI hitting an 11-month low, as protests in top importer China over strict Covid-19 curbs fueled demand concerns.
Brent crude dropped $2.16, or 2.6%, to trade at $81.47 a barrel at 0230 GMT, after diving to $81.16 earlier in the session — its lowest since Jan. 11.
U.S. West Texas Intermediate (WTI) crude slid $2.08, or 2.7%, to $74.20 a barrel. It fell as far as $73.82 earlier — its lowest since Dec. 27, 2021.
Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country’s strict Covid-19 restrictions.
Spot gold was down 0.4% at $1,749.00 per ounce, as of 0314 GMT. U.S. gold futures fell 0.2% to $1,749.90.
Spot silver slipped 1.8% to $21.21, platinum fell 0.3% to $978.00 and palladium declined 0.3% to $1,846.94.
U.S. futures lower. Dow Jones -0.06%; S&P 500 -0.01%; Nasdaq -0.09%.
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