There's a big nod to risk trades so far today and part of that is arguably driven by a surging rally in Chinese equities. The CSI 300 index closed up by 3.6% and the Hang Seng up by 5.1% today, after a rumour that China is setting up a so-called 're-opening committee' to assess ways to exit from its zero-Covid policies.
Zhao has come out to say that he is "not aware" of the situation, in what is typically a politician's answer when being found out about something. We'll see though if there is any truth to the rumour but for now, risk trades are ripping and that's getting markets jumpy to start European trading.