US tech rout, China data drag markets

HONG KONG: Asian and European markets fell in holiday-thinned trade on Monday after another technology-led rout on Wall Street, with focus on the Federal Reserve's (Fed) expected interest-rate increase this week.

Adding to the dour mood was data showing that Chinese manufacturing activity shrank last month at its fastest pace since the start of the pandemic two years ago, owing to Covid-19 lockdowns in the country's biggest cities.