Equities in Hong Kong advanced, quickly reversing initial declines, while benchmark gauges in Japan, South Korea and Australia also climbed. Mainland indexes fluctuated.and gold remained down, but above their lows for the session.
Markets continue to be whiplashed as traders veer between hope of China reopening from Covid-19 and fear that harsh curbs will persist. Chinese officials on Saturday vowed to remain “unswervingly” strict in Beijing’s approach to stamping out the coronavirus. The nation’s stocks had rallied aggressively on Friday on bets for an easing of virus curbs.
Fed fund futures are leaning toward pricing a 50-basis-point hike in December, with the peak around 5.1% next year.
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