WTI crude extends intraday gains to about 3%, trading at $85.40/bbl; Brent crude up 2.16% at $89.40/bbl.

The Shanghai Asset Management Association and its members — including bank wealth managers, insurance asset managers, trust companies, securities asset managers, public and private funds and asset-management service firms — said they remain firmly positive on the outlook for China’s capital markets and will fully support national strategic priorities. The association’s council and supervisory board said they will continue to organize members to pursue rational, value and long-term investment, and to act as value discoverers, a stabilizing ballast for market stability and a principal source of capital for the real economy.

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