China's April import and export figures beat expectations, potentially easing concerns that its economy is lagging.
China releases its strategic oil reserves for the first time in an effort "to ease the pressure of rising raw material prices", according to a statement from the National Food and Strategic Reserves Administration.
China has "indefinitely" suspended all activity under a China–Australia Strategic Economic Dialogue, its state economic planner said. This has occurred after China imposed sanctions on Australian wine and coal while failing to renew Australian hay import permits, and Australia states cancelled participation in China's Belt and Road Initiative and are reviewing Chinese company Landbridge Group's lease on the Port of Darwin previously provided for 99 years at A$506 million.
Japan says it will keep a close watch over the disputed Senkaku Islands after Chinese ships are seen near the islands for 65 days in a row. Chief Cabinet Secretary Yoshihide Suga says that Japan has protested to China over the issue and that it would respond "calmly and firmly".
China temporarily suspends plans to cross-link companies on the London and Shanghai Stock Exchange due to increased political tensions between the two nations, particularly Britain's stance on the Hong Kong protests.
Stock markets around the world fall as a result of fears about China's economy with the Dow Jones Industrial Average falling by 1000 points at the opening of trading on Wall Street. The Dow Jones Index closes down 588.40 points, or 3.6 percent.