The Wall Street rebound is on. U.S. stocks nearly wipe out all of last week's major losses, with the Dow managing to reach an intra-day high just 5 per cent below its all-time record. In Asia, stocks edge higher as the PBOC sets its new lending reference slightly lower on its first day and Washington grants Huawei a 90-day extension of its sales permit but simultaneously adds more affiliate companies to its blacklist. Facebook and Twitter move to block accounts they say are being used in pro-Beijing propaganda aimed at stymieing the Hong Kong pro-democracy protests. Chery Kang reports from the territory as chief executive Carrie Lam says she hopes the peaceful rallies over the weekend mark a turning point for the city. And we’re on crisis-watch in Rome, where Italian Prime Minister Giuseppe Conte is due to address the Senate and a no-confidence vote could bring down the coalition government.

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