The heads of the World Bank and the World Trade Organization on Monday called for countries to boost efforts to make trade in global services more transparent and predictable, saying this could help developing countries reduce poverty.
Most Asian stocks fell on Tuesday, while the U.S. dollar and oil steadied, as investors held safe ranges awaiting more clues on whether central banks will continue their aggressive interest rate hikes.
Oil prices moved in a tight range on Tuesday, steadying after a volatile session as markets weighed more supply cuts from Saudi Arabia and Russia against signs of worsening economic activity across the globe.
Asia's factory activity slumped in June, business surveys showed on Monday, as sluggish demand in China and advanced nations clouded the outlook for the region's exporters.
South Korea's factory activity shrank at a steeper pace in June and extended its downturn to a record 12th consecutive month, a survey showed on Monday, underlining the challenges facing the economy as it struggles to mount solid recovery.
Japan's factory activity contracted in June after expanding for the first time in 7 months in May, a private survey showed on Monday, dragged down by weak orders for cyclical goods amid a global economic slowdown.