Asian markets continued to make gains in July, driven by hopes of new measures to stimulate China's economy. Positive performance in global equities was largely centered around emerging market exposures where earnings momentum and trading conditions remain attractive. The MSCI India Index rose 1.88% in sterling terms, with all sectors turning positive except consumer staples. Japanese equities continued their ascent in July, amid widespread positive performance of global equities. Listed equities produced a positive return, reaching 15-month highs over July as markets were buoyed by softer-than-expected US inflation data. US equities ended higher in July, with the S&P 500 Index reaching an 18-month high amid easing inflation and an improving macroeconomic backdrop. UK equities performed well in July, as better-than-expected inflation figures helped to reduce fears.