China said on Monday that companies in Beijing's sub-sector of foreign investment should seek government approval for overseas listing. The National Development & Reform Commission (NDRC) also said that foreign exchange should not be involved in the operation and management of these companies. Asian stocks were weakened by crude oil in reduced holiday trade on Monday, as uncertainty over the economic impact of the Omicron coronavirus variant hit investors hard.
In foreign exchange markets, the weaker tone in the US dollar has continued, despite a hawkish turnaround in the Federal Reserve that saw policymakers show a three-point increase over the next quarter.
The price of Brent crude is $75.75 per barrel, WTI — $72.86. EUR/USD is at 1.1308, GBP/USD — 1.3396, gold is at 1.806.10 per ounce.