LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

Hong Kong and China equity markets are lower today with disappointing tech earnings results weighing on the global markets as well as a lack of major policy support following the Third Plenum reinforcing bearish sentiment. There has been a bit of a bounce in some of the major China equity benchmark tracked by the large passive ETFs, which could be a sign the Nation Team is back in the market. Asia EV stocks and Tesla suppliers are lower after Tesla released disappointing earnings and delayed the Robotaxi unveiling to October from August.

• Hong Kong equities are weaker today, property stocks are the worst preforming with the Mainland Property Index down 1.16%, while the HS Property Index is down 1.26%, the HSTech Index has fallen 0.95% while the HSI is down 0.70%.
• China onshore equities have seen a bounce and now out-perform HK listed equities with the CSI 300 Real Estate Index down 1.70%, the CSI 1000 is 0.30% lower, while the CSI 2000 is 0.52% lower and the CSI 300 is 0.24% lower.
• China's new measures to curb short-selling, including increased margin requirements and the cessation of securities lending by state-owned China Securities Finance Corp, have reduced the outstanding balance of short trades to 27.9 billion yuan, the lowest in over four years, thereby increasing trading costs and reducing market volatility according to BBG.
• Apple's Jeff Williams and Micron's Sanjay Mehrotra visited Beijing to meet with senior Chinese officials amid potential new US tech curbs on China. The visit emphasized the need for US firms to stay engaged in China's reform and modernization, despite ongoing trade restrictions and the pressure on US companies to decouple from China.
• Calendar is empty today, with focus turning to Hong Kong's Trade Balance data tomorrow.

Asian markets are mostly lower today, following losses on Wall Street and disappointing earnings from major tech companies. US equity futures have seen a sudden drop with little in the way of headlines driving the move. Elsewhere the yen strengthened ahead of next week’s BoJ meeting, with speculation about a potential rate hike, weak business data from Japan and Australia, coupled with uncertainty around central bank policies is also affecting investor sentiment. In Taiwan, stock trading is suspended due to Typhoon Gaemi, while Philippines were also closed due to a Typhoon.

• Japanese equities are lower today following unimpressive earnings results from major US tech companies, particularly Alphabet and Tesla, set off a slump in electronics makers and telecom names. Equity prices were also affected by discussions around potential rate cuts although only about 30% of analysts predict that the BOJ will hike interest rates on July 31, while the yen edged higher. The Nikkei is 1.10% lower, while the Topix is down 1.20%.
• South Korean are mixed today, Pharma stocks are the top performers although weaker tech stocks particular Samsung are weighing on the market.. The Kospi is currently trading 0.60% lower, while the Kosdaq trades 0.30% higher.
• Taiwan equity markets are closed today due to Typhoon Gaemi, Taiex futures are pointing to a 0.80% fall in the index with the Philadelphia SE Semiconductor Index falling 1.46%, and weak tech prices post the NY close contributing to the losses.
• Australian equities are a touch lower today, the ASX 200 is down 0.20% with gains in Consumer Discretionary and Health Care stocks offset by losses in Metals & Mining and Energy stocks. Earlier, Judo Bank preliminary July PMIs suggest that the economy barely grew at the start of Q3 with services growth mildly positive but manufacturing continuing to contract. In New Zealand equities are 0.50% led higher by Health care stocks.
• In EM Asia most markets are lower with Singapore's Straits Times down 0.10%, Malaysia's KLCI down 0.43% & Indonesia's JCI down 0.36%, while India's Nifty 50 is down 0.05%