China celebrates the centenary of the Communist Party with President Xi Jinping offering a thinly veiled warning to foreign nations about Beijing’s positioning on the global stage. Meanwhile, Hong Kong marks the 24th anniversary of its handover from British to Chinese rule with strict measures in place to curb any potential protests across the city. In IPO news, Chinese ride-hailing app Didi Chuxing soars up to 30 per cent on its New York debut, but then wipes out nearly all those gains to end the session marginally in the green. Curevac shares sell off in extended trade after its final stage Covid vaccine trial shows only 48 per cent efficacy. And we hear exclusively from Credit Suisse CEO Thomas Gottstein who slams excess banking regulation, but admits that ‘green’ stress tests have become a reality in the sector.  

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