Kangfang Biotech (09926.HK) rose as much as 13% intraday after AstraZeneca agreed a $2.0 billion strategic investment in Summit, Kangfang’s overseas partner, providing top-tier pharma backing to Summit’s drug candidate Ivosy.

First Abu Dhabi Bank (ADIB) chief economist Simon Ballard said ongoing geopolitical tension leaves the Middle East conflict and its impact on energy markets, inf expectations and the global rates outlook as the main macro risks this week. He said markets will watch Fed officials' remarks for signals on the policy path; with this month's rate hike approved 12-0, any guidance on policy outlook will be particularly important for portfolio positioning.

Patrick Munnelly of Tickmill Group said in a note that rising rates could pressure credit-asset valuations and equity prices. LSEG data show Middle East tensions and a spike in oil have led markets to price at least three rate hikes by major central banks over the next year. "If energy prices remain elevated, central banks will have less room to ease and more reason to prioritize inf risk."