European shares ended two days of losses as oil prices eased and the bond selloff slowed, with traders awaiting the Federal Reserve’s interest-rate decision later today, according to Bloomberg.

China's Beijing Financial Regulatory Bureau has approved Great Wall Life Insurance's 3.5 billion yuan 10-year callable capital supplementary bond and Beijing Life Insurance's 600 million yuan perpetual capital bond, according to Jiemian News. Jiemian News reported that nearly 20 insurers have been approved for or completed capital supplementary bond issuance so far this year, with total issuance exceeding 60 billion yuan and perpetual bonds accounting for almost 70%. The report said the insurance sector issued 16 capital supplementary bonds and perpetual bonds in the first half, totaling 32.07 billion yuan, of which perpetual bonds made up 19.34 billion yuan. It added that People's Insurance Company of China Life Insurance received approval in July to issue 10 billion yuan of perpetual bonds, New China Life completed a 10 billion yuan perpetual bond sale in July at a first-five-year coupon of 1.90%, China CITIC Prudential Life issued 9 billion yuan in two tranches this year, and Sunshine Life issued 5 billion yuan of capital supplementary bonds. Jiemian News also cited analysts and industry participants as saying bond issuance is faster than equity injections, does not dilute existing shareholders, and has become the main capital-raising tool for insurers as capital constraints rise under China's second-phase solvency rules. It said issuance costs have fallen as rates declined, with New China Life's July perpetual bond priced at 1.90% and People's Insurance Company of China Life Insurance's August perpetual bond priced at 1.88%, while Great Wall Life's newly approved 3.5 billion yuan quota is widely expected to come at a lower rate than its February 2.54% bond.

China’s wealth transfer market is entering a new phase as regulators and local authorities step up support for family trusts and family offices, according to Jiemian News. In June, China's central bank, the NDRC, the NFRA, the CSRC, SAFE and the Shanghai municipal government jointly issued an action plan for developing offshore finance in Shanghai, which called for studying the orderly development of family trusts and family office businesses. Earlier, the Shanghai municipal government office said it would support family trust development and promote a full-life-cycle wealth management model combining trust services and asset allocation. Market demand is also rising. A wealth report jointly released in June 2026 by Hurun Research Institute and Bank of East Asia said about 21 trillion yuan of wealth is expected to pass to the next generation over the next 10 years, and the scale of wealth transfer could reach 77 trillion yuan over 30 years. Chen Xuebin, chief executive of Shengshi Group, said Asia is becoming one of the fastest-growing regions for global family offices as capital flows shift and China’s intergenerational wealth transfer accelerates. Chen said family office clients are moving beyond managing financial products toward managing a cross-generational, cross-regional and cross-disciplinary family system. He said the focus is expanding to family governance, business succession, tax and legal issues, trust and insurance, education and health. He added that assets under management still matter, but are no longer enough to differentiate a firm, and that the real scarcity lies in turning complex information into judgments aligned with a family’s long-term goals. On asset allocation, UBS’s 2026 Global Family Office Report showed 60% of surveyed family offices plan to adjust strategic asset allocation in the next 12 months, 65% expect confidence in the U.S. dollar as the global reserve currency to weaken over the next year, and 65% have invested in AI value-chain sectors. Chen said these shifts reflect a reassessment of concentration risk rather than panic selling, and advised family offices to reduce single-currency and single-market exposure, strengthen multi-currency cash flow and liability matching, and invest in AI in stages after assessing valuation, capital intensity, regulation and liquidity. The report also found only 35% of family offices have a clear succession plan. Chen said succession is often slow not because tools are lacking, but because families have yet to reach consensus on control, ownership, management and beneficiary rights. He said younger clients are becoming more aware of risk earlier, which is pushing family offices to build family balance sheets, risk lists and value goals sooner and update them as circumstances change.

Alexandra Ivanova, a fund manager at Invesco Fixed Income, said it would be "more risky" if the Federal Reserve holds rates, according to Bloomberg. Speaking on Bloomberg Television, she also discussed market positioning ahead of the central bank's interest-rate decision.

BonfireSwap on BSC was attacked, leaving token holders with losses of about $50,000. According to Foresight News, the exploit stemmed from a lack of access control in the router contract's `transfer` function. The function did not check whether `msg.sender == from` or verify the caller's allowance for `from`, allowing anyone to set the victim as `from` and themselves as `to`. The attacker used pre-approved allowances to drain victims' tokens and forwarded the funds through swaps in the same token pool. A total of 41 token holders who had authorized the router contract were affected. Foresight News noted that this BonfireSwap is unrelated to Bonfire RH, a project with the same name on Robinhood Chain.

Hong Kong’s first five-year plan says its planned global gold hub will serve as an entry point for trading other commodities and expanding the yuan’s use in global markets, according to Bloomberg.

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