Asian stocks slipped on Monday as investors weighed an uneven global recovery from the pandemic against the latest upbeat US outlook from Federal Reserve Chair Jerome Powell. The dollar ticked up.
Markets in China and Hong Kong lagged, despite a rally in Alibaba Group Holding after the weekend announcement of a record antitrust fine removed a regulatory overhang. US equity futures retreated following a third straight week of gains for the S&P 500 Index, with investors bracing for earnings reports. European contracts were slightly in the red.
The yield on 10-year Treasuries held Friday’s advance on stronger-than-expected producer-price inflation data and ahead