Asia-Pacific stock markets are lower this morning with the biggest falls being seen in Chinese indices. In the latest indication that the post-restriction rebound in China’s economy is fading, the Caixin services PMI fell by more than expected in June as it slipped to a five-month low. Ahead of US Treasury Secretary Yellen’s visit, China President Xi called for a halt in the trend toward economic decoupling and the cutting of supply chains. With US markets now back from holiday, attention will be on whether the Federal Reserve is likely to hike interest rates at its next monetary policy update. Some clues on this may ... (full story)