Overnight roundup courtesy of Spreadex – 29/07/13

European futures are indicating a positive start to the week ahead of policy meetings from a number of central banks this week which could provide further reassurance that they will keep stimulus measures in place for the foreseeable future. Asian stocks were dragged lower by Chinese equities after industrial companies reported slower profit growth and as China began a nationwide audit of government debt. 

Comments from Bank of Japan governor Haruhiko Huroda indicated little concern that a planned sales-tax rise would derail an economic rebound. This comes a week before Prime Minister Shinzo Abe’s administration decides whether to go ahead with the first step tax increase, raising it to 8 percent in April from the current 5 percent.