Asia Stocks Mixed as China Concerns Cap Gains, Yuan Rallies on PBOC Support

Asian shares edged higher as investors assessed corporate earnings and anticipated upcoming central bank meetings, while disappointing results from Netflix and Tesla weighed on U.S. futures. However, gains in Asian equities were limited by weak China stocks, as the government's support for the private economy failed to impress investors. The Chinese yuan rose after authorities adjusted cross-border financing rules and state-owned banks were seen selling dollars to bolster the currency. European stock markets were expected to open lower, and the Bank of England's rate hike expectations were dialed back following cooling UK inflation. Central bank meetings in Japan, Europe, and the United States will be closely watched by investors. China's recovery relies on consumer-led growth, but signs of a slowdown are emerging, and fiscal stimulus is expected to focus on local governments.