ECB staff discuss strike action after rejecting a below-inflation pay offer, as the central bank's own survey shows price pressures are set to rise next year. Hong Kong's Hang Seng jumps on local media reports authorities are considering a further easing of Covid measures, with tech stocks leading the charge. China's president Xi Jinping starts his three-day visit to Saudi Arabia in a bid to boost ties with the region. The S&P 500 posts its fifth straight negative session as rate concerns cloud the outlook, while consumer borrowing climbs.

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