Commodities plunged to their lowest level in eight months on Tuesday, extending two weeks of losses. The retreat came on concern that the global share-market rout will slow the economy and erode demand. Gold jumped to a record on demand for a haven.
China Overseas Land & Investment Ltd, a Hong Kong-based builder controlled by the Chinese construction ministry, said first-half profit climbed 35 percent on gains from one-time items and property sales.
China UnionPay Co Ltd announced on Tuesday the launch of the first smartphone with built-in mobile payment capability, jumping ahead of domestic rivals in the world's most populous mobile phone country.
Chinese equities shrugged off the downward pressure of steep drops in the US and European stock markets, triggered by rating agency Standard & Poor's move to downgrade the long-term credit rating of the United States, and erased intraday losses to close flat on Tuesday.
Xi Shijia, 28, an IT clerk at a State-owned company in Beijing, said he will not stop buying individual wealth management (IWM) products from commercial banks in the second half to safeguard against asset losses.