Fresh inflation data reassured investors the US Federal Reserve could finally start cutting rates next month

Japanese Prime Minister Fumio Kishida’s announcement that he will step down next month after a patchy three years boosted markets

Tokyo bounced back into life after Monday’s holiday while China and Hong Kong stocks were forced to work hard for small gains

Many investors remained on the sidelines ahead of key data announcements out of both China and the US this week

Japanese equities came under pressure again as domestic chip stocks followed an overnight slide on Wall Street

Indexes across the region recovered more of their Monday losses as an air of calm returned to trading floors

Stocks in Japan rebounded dramatically on Tuesday, enjoying the biggest one-day percentage rise since October 2008, while other markets in Asia also got a lift

The currency’s slide followed in the wake of an Asia-wide selloff after a poor US jobs report spurred worries of foreign outflows

The Nikkei in Japan suffers its biggest ever one-day loss, plummeting by a whopping 13%, while Taiwanese and Korean shares both sank by more than 8%.

Japan’s benchmark index endured a bruising day, seeing its biggest daily percentage fall in more than four years

China’s manufacturing activity shrank for the first time in nine months in July while Japan’s currency peaked at a four-month high

Microsoft, Apple, Amazon and Facebook-parent Meta Platforms report this week while central banks in the US, UK and Japan also meet