Wells Fargo Investment Institute downgraded its rating on the S&P 500 information technology sector to Neutral from Overweight.

Since May Australian house prices have fallen markedly, though analysts still call it an orderly adjustment; only a minority of mortgage borrowers are in negative equity. Robust employment and tight housing supply have provided support. Institutions warn that two further RBA hikes before year-end — taking the official cash rate to a near 20-year high — could push the correction into a pressure-driven sell-off. Markets broadly expect the RBA to announce a fourth hike today at 0430 GMT (Beijing 12:30).

CNBC reports Luckin Coffee, with backing from Abu Dhabi sovereign wealth fund Mubadala, is re-evaluating entry into the Middle East. Chairman Li Hui told CNBC on Monday the company is assessing other markets and may enter Gulf countries, citing stable, high-frequency coffee consumption and rising demand for low-sugar, health-oriented beverages.