Market Volatility: Asia Stocks Gain, US Futures Slip, and Tech Giants Face Challenges

Asian shares edged higher as investors assessed corporate earnings and anticipated upcoming central bank meetings, while weak China stocks and disappointing earnings from Netflix and Tesla limited gains. China's yuan rose after authorities adjusted cross-border financing rules and state-owned banks sold dollars to support the currency. European stock markets were expected to open lower, and the Bank of England's meeting in August will be closely watched. Traders anticipate a 25 basis point rate hike from the European Central Bank but are uncertain about future moves. China's recovery relies on consumer-led growth, but signs of a slowdown are emerging. In Taiwan, TSMC reported a decline in net profit due to global economic challenges. U.S. futures declined after Netflix and Tesla's earnings reports. The onshore yuan strengthened, and the Australian dollar rose on strong jobs data. Wheat futures spiked on concerns about global supply following an attack on Ukrainian ports.