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Banks saw the brunt of the selling as investors grew more anxious about interest rates. The U.S. Treasury yield curve has been inverted for over a year, with longer-term bonds yielding less than short-term debt instruments. This persistent situation pressures profits that banks can earn on loans.

Vietnam tops the list with 12 million women crypto owners — 24% of its female population. The Philippines ranks second with 9.6%, reflecting almost 5.5 million female crypto owners. However, barring a few countries, there are disparities in ownership of crypto. Vietnam had the most even numbers of male and female crypto owners, with 47% being female.

The PBOC also unexpectedly lowered its policy rate on Tuesday, earlier than many investors had expected and possibly probably triggered by the string of disappointing data on loans and credit, the housing market and trust industry as well as the threat of deflation.

Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones.

The offshore yuan struggled to break away from a nine-month low hit in the previous session, having slid to that level after a slew of Chinese data on Tuesday undershot forecasts, and prompted Beijing to deliver unexpected cuts to its key policy rates.

Gold on Tuesday dropped to as low as $1,895.50 an ounce, its weakest level since end-June, as benchmark 10-year U.S. Treasury yields hit an almost 10-month high, making them more attractive than non-interest bearing bullion.

U.S. West Texas Intermediate crude was down 11 cents, or 0.13%, at $82.40 a barrel. Brent crude futures lost 8 cents to trade at $86.13 per barrel at 0015 GMT.

In his latest monetary policy statement, governor Shaktikanta Das imposed a temporary incremental cash reserve ratio (I-CRR) of 10% on incremental deposits received between 19th May and 28th July 2023 given the surge in surplus liquidity in the system. The I-CRR would be reviewed on 8th Sep’23

While the scale of the rise has triggered worries of more rate hikes, these concerns are partially offset by the easing in core inflation, which strips out the volatile components of food and fuel. While elevated food prices may spill over into the August CPI print as well, government interventions and fresh crop arrivals should rein in the rise in food prices going ahead, economists said.

"In accordance with the Sebi master circular, we would like to submit that there has been a delay in the preparation of the consolidated financial results on account of the unavailability of the management," said Balaji Amines in an exchange filing.