Italy's FTSE MIB fell below 49,000 points, down 1.72% intraday.

PBOC's Pan said the central bank, together with the Financial Regulatory Administration and the CSRC, will establish a liquidity-support tool to address large redemptions at non-bank institutions. The measure is intended as a bond-market stabilization mechanism and a new PBOC macroprudential instrument. It will be activated in scenarios of collective liquidity stress at asset managers and a redemption-to-sale negative loop in the bond market. Operations will require meeting macroprudential conditions and provision of high-grade collateral to avoid pricing distortion and a perceived blanket backstop, and to preserve market discipline. Eligible entities include bank wealth-management subsidiaries, public fund managers, and their parent banks or securities firms.

Indonesian stocks fell 4.6% intraday, hitting their lowest level since October 2020.