Stock markets are rallying under the leadership of technology, with the thought that the penalties announced to Alibaba and Tencent in China will end the long-standing government-private sector tensions.
Hong Kong’s Hang Seng Technology Index rose more than 1%, while Hang Seng rose 0.8 percent and China’s CSI 300 rose 0.5 percent. The gains in Asia are offset by the losses in Japan, with the Nikkei depreciating by 0.8 percent.
Futures are down this morning after Friday’s losses in US indices. S&P 500 futures fell 0.2 percent. Bond yields are stable, with US two-year yields down one basis point at 4.94 percent.
The Dollar Index rose 0.1 percent to 1,228 points. All major developed country currencies depreciated against the dollar in the morning, while the Japanese yen led the losses with 0.5 percent.
In the spot market, an ounce of gold is down 0.1 percent at $1,923.
Oil prices, on the other hand, start the week with a decline. The Brent active contract fell 0.5 percent to $77.9 a barrel.