- Asian stocks climbed on Tuesday, following Wall Street's optimistic session, as investors sought fresh signs of global economic stability.
- Shares in Japan, Australia, and South Korea rose, putting an index of Asian stocks on course for its seventh consecutive gain - a streak not seen since January, when investors reacted positively to China's reopening.
- Following statistics that indicated a slowdown in home sales and manufacturing in the world's second-largest economy, Mainland China and Hong Kong equities varied after initial advances. Caixin PMI data from China reveal that industrial activity dropped in July, falling short of experts' expectations for a modest increase.
- China's July house sales figures reported the largest dip in a year. The downturn emphasises why policymakers are targeting the property sector with growth-supporting policies. Sales are also down, which is affecting the country's developers. Country Garden faces $2.9 bln in bond payments for the rest of the year, putting the Chinese developer's ability to meet deadlines and avoid a first-ever default to the test.