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Russian energy minister Novak said that his country will not supply oil to countries that embrace the $60 price cap on Russian oil, even if it results in drop in Russian oil output. Sanctions on Russian oil are going live today (December 5, 2022)

Indices from Asia-Pacific followed into footsteps of their US peers and also gained, although scale of moves was much smaller than on Wall Street

People started to protest in major Chinese cities after firefighters in Xinjiang region were unable to reach fire on time due to Covid restrictions, resulting in death of 10 people

Indices from Asia-Pacific traded mixed today. Nikkei dropped 0.3%, Kospi and Nifty 50 moved 0.1% lower and S&P/ASX 200 gained 0.2%. Indices from China traded higher

China reported 29,754 new Covid cases – the highest official count since the start of the pandemic. More Chinese cities prepare mass testing and imposes movement restrictions