Bloomberg Business

Asian stocks rose as China’s largest banks reportedly prepare to cut interest rates and investors speculate that the Federal Reserve is nearing the end of its tightening campaign.

Country Garden Holdings Co. aims to issue HK$270 million ($34.4 million) of new shares, as the distressed developer tries to pay off money it owes to other companies.

Australia’s sovereign wealth fund posted a 6% annual gain as it warned that high inflation would keep returns lower than investors have enjoyed for the past decade.

The US announced its latest package of military aid to Ukraine, a $250 million drawdown from existing Pentagon stock that includes anti-mine equipment, obstacle-clearing explosives, AIM-9M air-to-air missiles, artillery shells and other ammunition. “This package contains important capabilities to help Ukraine on the battlefield,” Secretary of State Antony Blinken said in a statement.

New Zealand’s main opposition National Party is offering tax cuts to families and middle-income voters, hoping to woo them away from the ruling Labour Party at the October election.

Codelco is facing the possibility of a credit rating cut as slumping production, rising costs and project disruptions dim leverage metrics at the world’s biggest copper supplier.

Industrial & Commercial Bank of China Ltd. is trading near a record low valuation, with its shares down 11% so far this year in Hong Kong due to rising concerns over margins and asset quality ahead of its first-half results due today.

Russian President Vladimir Putin’s plan to travel to China demonstrates a confidence that his authority is stronger than ever after the death of mercenary leader Yevgeny Prigozhin, said investor and long-time Russia watcher Bill Browder.

UK home sales are on track to drop to the lowest since 2012 this year as stubbornly high mortgage rates grip the housing market.

A group of UK lawmakers are calling on the government to enforce clearer and tougher rules on artificial intelligence systems that are trained off the work of artists, writers and other content creators.