Chinese Stocks Gain After Holiday

China’s stock market rallied as it reopened after a weeklong break for Lunar New Year, while futures for major U.S. indexes were close to flat, offering little clue to the likely direction of U.S. markets in Monday’s trading session.

Global markets have been volatile in recent weeks as the Federal Reserve has prepared to raise interest rates for the first since 2018, and other major Western central banks have also become more hawkish. The prospect of tighter monetary policy has prompted investors to shift toward investments that are deemed safer.