FTSE China A50 index futures fell more than 1%.

ECB chief economist Lane said he sees signs that prices will face upward pressure in the coming months.

Rupert Thompson, chief economist at Iboss, said that after Starmer resigned this week UK investors are urgently seeking clarity on the incoming leader’s economic policy. Andy Burnham won the Makerfield by-election and was sworn in as an MP on Monday and is widely expected to become the next prime minister. Thompson said the UK economy and markets face a period of uncertainty, with investors concerned about the prospect of further tax increases.