General Motors Co GM.N jumped 4.9% after it acquired an 11% stake, worth $2 billion, in U.S. electric-truck maker Nikola Corp NKLA.O. Still, market participants said they did not expect a prolonged sell-off against the backdrop of an accommodative monetary policy by the Federal Reserve, which last week indicated a higher toleration for inflation rising above 2%. "If you bought a lot of call options in the second quarter, you're doing very well, but that creates a problem for later when you need to unwind these positions," said Ken Peng, Citi Private Bank's head of Asia Investment Strategy.