Asia-Pacific stocks mixed as investors watch China’s Covid surge

Japan +0.93%.

China -1.30% China reports 1,524 local covid cases — a peak in two years.

Rising coronavirus cases have plunged Shenzen and parts of Shanghai return to containment, as well as in other areas; Toyota is halting production at its Chinese plant in Changchun City due to the lockdown.

hong kong -3.81%.

Australia +1.03%.

India +0.38%

Update to Russian invasion of Ukraine: War in Ukraine – air raid sirens go off (at least) 19 out of 24 regions of Ukraine

Russian attack in Ukraine just 15 miles from Poland – a “significant” development.

The United States and China will appointment for “high level” talks on Ukraine.

Oil prices fell as much as $4 a barrel on Monday, extending last week’s decline as diplomatic efforts to end the war in Ukraine intensified and markets braced for higher U.S. rates students.

Brent futures were down $3.05 or 2.7% at $109.62 a barrel at 0351 GMT on Monday.

United States West Texas Intermediate (NYSE:WTI crude futures fell $3.10 or 2.8% to $106.23 a barrel.

Gold prices fell on Monday as US Treasury yields rose on expectations of a rate hike, with higher risk appetite on hopes of peace between Russia and Ukraine, which has further undermined bullion’s appeal.

Spot gold fell 0.7% to $1,971.77 an ounce at 0303 GMT. US gold futures also fell 0.5% to $1,975.70.

Palladiumused by automakers in catalytic converters to reduce emissions, fell 3.9% to $2,705.18 an ounce.

Among other metals, cash down 0.9% to $25.58 an ounce, while platinum slipped 1.9% to $1,059.43.

US futures falling. Dow Jones +0.62%; S&P500 +0.55%; Nasdaq +0.31%.

Edward N. Arrington