Business Maverick: Stocks mixed on China reopening, recession fears: markets wrap

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Stocks in Asia fluctuated following signs China would further relax its Covid restrictions, while Treasuries flashed warning signs of recession. The dollar strengthened in an indication of demand for havens.

Equities in Japan, Australia and South Korea dropped, along with futures for US and European benchmarks. Stocks in Hong Kong rose after media reports that mask-wearing requirements would be scrapped. Shares in mainland China seesawed.

Bonds rose in Australia, with the 10-year yield falling 3 basis points to 3.33%. Treasury yields of the same maturity rose after a sharp decline in the prior session.

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