Asia Equities Plummet as Fed Minutes and China Tensions Spark Market Turmoil

Equity benchmarks across Asia, including Hong Kong, Japan, and Australia, dropped following Wall Street's decline. Chinese investors do not expect aggressive stimulus or economic reforms at an upcoming key meeting, according to Goldman Sachs. Chinese banks have stopped buying bonds issued in the Shanghai free trade zone due to increased regulatory scrutiny. Treasury yields rose after the Federal Reserve minutes revealed divisions among policymakers over the decision to pause in June. US employment reports and Treasury Secretary Janet Yellen's visit to Beijing will be closely watched. The central bank of Malaysia will announce interest rate decisions, and major currencies like the yen and yuan continue to face downward pressure. Oil and gold prices rose, while Bitcoin remained flat.