Asian equity markets mostly rose on Monday, with Hong Kong and mainland China stocks leading the advance as investors cheered easing Covid restrictions in China that sparked hopes of further reopening. Investors also digested a stronger-than-expected US jobs report released on Friday, though expectations that the Federal Reserve will slow the pace of interest rate hikes this month remained intact. Meanwhile, markets reacted to a raft of economic reports in Asia, headlined by services activity data in China that contracted the most in six months. Shares in Australia also gained, while South Korean and Japanese shares wobbled.
