China A-share shipping sector extended afternoon losses; China Merchants Shipping fell over 7%, with COSCO Shipping Energy and Haitong Development also sliding.

Reserve Bank of Australia held the cash rate unchanged on Wednesday, saying a rising unemployment rate and a weak housing market should be sufficient to dampen activity and inflation. Markets will watch Governor Bullock’s afternoon press conference for further guidance. The statement said the committee remains focused on preventing high inflation from becoming entrenched and, with policy judged to be somewhat restrictive, will continue to take necessary actions to return inflation to target, including further increases in the cash rate if upside risks materialize. Australia’s four major banks view the tightening cycle as complete and expect a pause before any easing. Westpac said higher borrowing costs and the end of tax concessions for property investors are weighing on the housing market, illustrating a strong fiscal–monetary interaction. RBA quarterly forecasts show unemployment is projected slightly higher than three months ago, though the labour market remains a touch tight.

EVE Energy will adjust prices on certain domestic battery products from Sept. 1, adding a 2% consumption-tax cost to pre-tax supply prices, multiple sources confirmed. The move primarily affects lithium primary batteries and lithium‑ion storage batteries. An internal source said downstream customers across consumer, automotive (power) and energy‑storage segments will be impacted to varying degrees. The company denied the initial price increase will hurt subsequent orders or market share, saying current orders exceed capacity and the adjustment is not highly sensitive, and expects limited overall customer impact.