Overview: The challenges for investors have not gone away, but a combination of factors has helped stabilize the capital markets. The PBOC set the dollar's reference rate above CNY7.0, but not as high as anticipated, and this has seen the yuan strengthen modestly today. Meanwhile, the strong recovery in the S&P 500 has spilled over and helped lift global equities. Asia Pacific equities were led higher by a 13% gain China's CSI300; ending a six-day decline with its biggest advance in a month. Europe's Dow Jones Stoxx 600 is posting gains for the second session.