U.S. stock futures pointed to further losses at the reopen, with the S&P 500 indicating 1.54% lower, after Friday's 2.91% retreat.
The dollar hit 135 yen for the first time in two decades, buoyed by a rise in Treasury yields that continued into Tokyo trading, with the 10-year reaching a more than one-month peak of 3.201%, putting it just two-tenths of a basis point from the highest since November 2018.
Beijing's most populous district of Chaoyang announced on Sunday three rounds of mass testing to quell a "ferocious" COVID-19 outbreak that emerged at a bar in a nightlife and shopping area last week, spurring concern of more growth-strangling lockdowns only a short time after the city relaxed curbs to quell an outbreak from April.
Meanwhile, the U.S. consumer price index increased a bigger-than-expected 8.6% last month, the largest year-on-year increase since December 1981, Labor Department figures showed Friday.