During the recent turmoil China’s currency showed more resilience than those of other Asian countries whose fundamentals are weaker. The modest improvement in economic activity since July likely contributed to making China more attractive. The first data release corresponding to August, suggests that the stronger activity in July could be continuing. China’s flash PMI rose to 50.1 in August from 47.7 above the 50 mark for the first time since April. Meanwhile, India and Indonesia were the most affected countries in Asia. India’s central bank was quite active in trying to calm markets.Central bank authorities in India announced that they would resume open market operations to contain long-tern yields.