Key News Asian equities were mixed but mostly lower overnight as Hong Kong was a significant laggard and Mainland China was closed. Growth and internet stocks were clipped following last week’s rally, which was powered by recent positive statements from Mainland authorities, implying that the internet regulatory cycle has ended. Adding to investor uncertainty is US Fed Chair Powell’s expected announcement this afternoon regarding the May interest rate hike. The Ministry of Transport (MoT) estimated that the 2022 Labor Day holidays will see 100 million passenger trips in China (-62% YoY and -61% vs. 2019), reflecting the impact that lockdowns...