July 31 — CHINA STATE PLANNER said it will coordinate with other departments to implement more proactive macro policies aimed at stabilizing employment, firms, markets and expectations, and at strengthening the endogenous momentum of economic growth and price recovery. It said authorities will closely monitor price movements in key staples and energy, continue supply-and-price stability measures to ensure overall market supply and stable prices, and protect basic livelihoods.

China's official manufacturing PMI fell to 49.2 in July, below consensus 50.1 and June's 50.3, returning to contraction territory below the 50 threshold.

US 30-year Treasury yields rose sharply after the Federal Reserve on Wednesday held rates steady and gave no guidance on likely actions at upcoming meetings, boosting market uncertainty. The move pushed the UK 30-year gilt yield to an intraday one-week high of 5.759%. Tickmill Group analyst Patrick Munnelly said the spike in long-dated yields reflects the long end’s protest against uncertainty, inf risks and the Fed’s willingness to let market rates bear some of the tightening of financial conditions.