Good morning, and welcome to the final Asia Links of the week
Nasdaq closes 5% down in sharpest fall since 2020 (FT)
Dow, S&P down more than 3% (WSJ)
Bank of England raises rates by quarter point (FT)
78% of respondents in Eurocham China survey say covid policies have made the mainland less attractive for investment (FT)
China’s Politburo says ‘persistence is victory’ in zero covid fight (Caixin, People’s Daily)
China’s services sector PMI slumps to 36.2 in April (Caixin)
John Lee vows to make reopening of Hong Kong’s borders a priority (SCMP)
WHO says 15 million have died from covid worldwide, with biggest toll in India (WSJ)
Chinese, Russian central banks to discuss use of national payments systems (Reuters)
New China policies to support big tech innovation, state newspaper says (SCMP)
Chinese property developers see hope in Politburo policy shift (Nikkei Asia)
Uber posts $5.9 billion loss after value of Didi, Grab stakes decline (BBC)
Singapore deal allows SocGen bankers to flee Hong Kong (FT)
‘Resolute’ Ukraine response vital to deter China on Taiwan, Japan’s Kishida says (FT)
China spends $30 billion a year on fiscal transfers for environmental management (World Bank)
Rising crude prices are not going to lead to a 70s-style price shock because we use oil much more efficiently (IMF)
Wonkery: How the war in Ukraine may shape globalization (VoxEU)
And more wonkery: The Indo-Pacific Economic Framework and digital trade is Southeast Asia (CSIS)