China's top leaders pledged on Monday to step up policy support for the economy amid a tortuous post-COVID recovery, focusing on boosting domestic demand, signalling more stimulus steps.

Asian shares jumped on Tuesday as China's pledge to step up policy support for its stuttering economy soothed sentiment and lifted beaten down Hong Kong and Chinese stocks, while the dollar eased ahead of the Federal Reserve meeting this week.

U.S. business activity slowed to a five-month low in July, dragged down by decelerating service-sector growth, closely watched survey data on Monday showed, but falling input prices and slowed hiring indicate the Federal Reserve could be making progress on important fronts in its bid to reduce inflation.

Britain's private sector is growing at its weakest pace in six months in July, as orders for businesses stagnate in the face of rising interest rates and still-high inflation, a survey showed on Monday.

Euro zone business activity shrank much more than expected in July as demand in the bloc's dominant services industry declined while factory output fell at the fastest pace since COVID-19 first took hold, a survey showed.

Singapore's key consumer price gauge rose 4.2% in June, matching economists' forecasts, official data showed on Monday.