Major Hong Kong tech stocks were generally weak, with Bilibili (09626.HK) falling more than 5%, Tencent Music (01698.HK) and JD Health (06618.HK) falling more than 4%, and Baidu (09888.HK), Kuaishou (01024.HK) and Alibaba (09988.HK) all falling more

1. Trump publicly endorses former New York Governor Cuomo ahead of New York mayoral election —On the eve of the New York City mayoral election, Trump urged New Yorkers to vote for Democratic candidate and former New York Governor Andrew Cuomo. He also threatened to limit federal funding to New York City if Mamdani (the Democratic candidate who has consistently led in the polls) is elected mayor. 2. Trump reportedly instructs more members of Congress to brief on Venezuelan anti-drug strategy —According to Axios, Trump has instructed staff to brief more members of Congress on his administration's aggressive anti-drug strategy in the Caribbean and Pacific region. Secretary of State Rubio is scheduled to brief lawmakers on Capitol Hill on Wednesday. 3. Acting Inspector General of the Federal Housing Finance Agency reportedly dismissed —According to four sources familiar with the matter, Joe Allen, acting inspector general of the Federal Housing Finance Agency, has been dismissed as Trump strikes at what he sees as political opponents. Throughout the administration, the Trump administration has so far dismissed or reappointed nearly 24 agency oversight personnel. 4. Trump says peaceful coexistence with China is better than confrontation – Following the consensus reached in the US-China trade negotiations, high-ranking US officials have made numerous statements, and the White House has also released a specific timetable for implementing the relevant consensus. US President Trump stated that cooperation with China can make the US "better." 5. State Street CEO criticizes immigration policy as "anti-growth" – Ron O’Hanley, CEO of State Street, one of the world's largest asset management companies, criticized Trump's immigration policy as "anti-growth," saying that the unprecedented crackdown by the US government is throwing highly skilled foreign workers into chaos. 6. US Treasury Secretary says he will attend Supreme Court tariff hearing – US Treasury Secretary Bessant said on Monday that he will attend the Supreme Court hearing this week on the legality of Trump's tariff policy, calling it a "national security issue."

The South Korean KOSPI index fell sharply in early trading, dropping as much as 3% and breaching the 4,000-point mark.