Federal Reserve Chairman Kevin Warsh said the Fed views this as a positive signal.

Onshore yuan closed at 6.7655 per dollar at 16:30 on July 29, up 19 pips from the previous trading day.

Taiwan's TAIEX fell more than 2% on Wednesday as US technology shares weakened, while South Korea's market opened higher then gave up gains. The S&P 500 closed higher on Tuesday, offsetting some of the impact from a sharp sell-off in chip stocks. Semiconductor names extended their recent decline: the Philadelphia Semiconductor Index fell 4.5%, roughly 25% below its June 22 record close but still up about 56% YTD in 2026.