Swiss National Bank vice chairman said liquidity and capital measures are key to addressing weaknesses exposed by the Credit Suisse crisis. Using CET1 capital to fully back overseas holdings will fill the shortfall; the measure is proportionate and will bring UBS in line with international peers.

Nigeria became the first OPEC member to join the International Energy Agency (IEA) as an associate member, deepening ties between the global energy agency and Africa's largest oil producer. The move brings a country of more than 240 mln people into the IEA network. Nigeria is a major oil and gas exporter but faces domestic energy constraints, including limited power supply and heavy reliance on polluting cooking fuels. Nigeria is seeking to expand its influence by raising refining capacity and boosting fuel exports, while the IEA aims to broaden engagement with major emerging energy participants.

At the open in China on July 2, the CSI 300 Index fell 93.81 points (-1.89%) to 4,865.17; China's Shanghai Composite Index fell 58.36 points (-1.42%) to 4,054.09; the Shenzhen Composite Index fell 389.25 points (-2.41%) to 15,729.92; the ChiNext Index fell 125.38 points (-2.94%) to 4,135.34; the STAR 50 Index fell 93.14 points (-4.33%) to 2,059.90.