- Global equities stabilised as Chinese stocks made small gains in cautious trading and other markets in the region rose in response to early US corporate earnings reports.
- Hong Kong shares swung between gains and losses after the Hang Seng index had its worst day since the financial crisis on Monday. The mainland gauges fluctuated as well. The price movement has slowed after a record drop in US-listed Chinese stocks overnight as investors reacted negatively to China’s President Xi tightening his grip on the government.
- Stocks in Japan and Australia mirrored gains in the US on Monday, while futures for the S&P 500 fluctuated between positive and negative territory.
- The offshore yuan fell to its lowest level since trading began a dozen years ago, as fears grew that China’s President Xi's power grab would weaken growth and destabilise geopolitics. The decline was accelerated after China's central bank set the currency's official fixing rate at its lowest level in 14 years.
