Alphabet (GOOG.O) opened down 3.7%.

Shenzhen Customs said on June 22 that Shenzhen’s cumulative import-export value in Jan-May was 2.32 tln yuan, up 31.1% YoY. Exports totaled 1.22 tln yuan, up 15.9%; imports totaled 1.10 tln yuan, up 53.4%. Shenzhen remained the largest mainland Chinese city by import-export scale.

China's 14th National People's Congress Standing Committee will hold its 23rd meeting in Beijing from June 23-26, the NPCSC Legislative Affairs Commission said. Following a chairman's meeting, the agenda includes continued review of draft amendments to the Trademark Law, Certified Public Accountants Law, procuratorate public-interest litigation law, Antarctic activities and environmental protection law, and the national fire and rescue personnel law; the NPC Financial and Economic Committee will submit a proposal to review amendments to the Government Procurement Law; the State Council will submit drafts for review including amendments to the Tendering and Bidding Law, a draft Financial Law, and proposed revisions to the PBOC law.