{O/C} The day wound down with mixed Asian stocks as China's sluggish manufacturing engine is gathering steam along with relaxed COVID screws on businesses there.
This, as oil prices breached the 120-USD mark following an EU embargo on certain Russian oil imports into the European Union by the end of the year.
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U.S. futures rose after markets were closed for Memorial Day.
Following an agreement by EU leaders to block most Russian oil imports by year-end, oil prices edged up slightly by 3.43 dollars to 118.50 per barrel.
The deal hammered out subjects Russian oil brought in by sea to the embargo, albeit exempting imports via pipeline temporarily, which is crucial for landlocked Hungary.
Investors are relieved China is finally loosening the COVID screws on Shanghai and Beijing businesses that subdued factory activity.
The PMI ballooned to 49.6 from 47.4 last month.
In America, concerns linger over whether the Fed can rein in inflation at a four-decade high without sending the economy into recession.
But hopes were raised after Commerce Department data revealed decelerating inflation in the country to 6.3 percent over a year earlier, its first fall in 17 months.
Tokyo's Nikkei 225 shed 0.3 percent to 27,279.
The Shanghai Composite index added 0.8 percent to 3,186.
Both the S&P 500 and Dow Jones gained ground.
And here in Hong Kong, the Hang Seng Index wrapped up the day, bucking the trend at 1 percent higher to 21,415.
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