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(Bloomberg) - Global stocks stabilized after China undertook a series of measures to calm its financial markets.
The MSCI All-Country World Index is little changed after the worst start to a year in at least three decades.
Asian and European stocks alternated between gains and losses, while S&P 500 Index futures slipped.
China propped up its stock market after $590bn of value disappeared on Monday. State-controlled funds bought equities, and the securities regulator signaled a selling ban on major investors will remain beyond this week's expiration date, according to people familiar with the matter.
The nation's central bank also pumped 130bn yuan ($19.9bn) into the financial system after money market rates jumped. The CSI 300 Index rose 0.3% after alternating between a loss of 2.6% and a gain of 1.4%. Monday's 7% loss was the worst-ever start to a year.
Industrial metals rebounded from the biggest drop since September. Copper gained as much as 1.5% after China sought to calm investors after stock trading was halted on Monday. Concerns remain about the health of the world's second- biggest economy after two gauges of manufacturing contracted.
Copper sank 25% in 2015, the biggest drop since 2008. An LME index of six industrial metals plunged 24% last year, the third consecutive fall and worst run since at least 2001.
The yen continues to be a refuge for investors and is the best-performing major currency against the US dollar for a second day. Australia's dollar was the worst performing developed-market currency on Monday, falling 1.5%. Its fortunes improved today after China reacted to yesterday's market turmoil.
The currencies of commodity-producing nations bore the brunt of yesterday's sell-off with the New Zealand dollar, Brazilian real and Canadian dollar among the worst performers. The US dollar, as measured by the Bloomberg Dollar Spot Index, rose for a third year in 2015, a record winning streak.
