Asian markets were mixed Thursday as China’s stocks slumped by the most in a month and the Australian dollar fell on concerns that investment is weakening while oil resumed declines and gold advanced.

The MSCI Asia Pacific Index of shares turned around after two days of losses rising 0.1 percent as of 7:01 a.m. London time and Japan’s Topix index snapped a two-day decline, up 1.8 percent after reports the government may increase spending. The nation’s 40-year bond yield fell below 1 percent for the first time.

The Shanghai Composite Index dropped 6.4 percent, the most since Jan. 26, and Hong Kong’s Hang Seng Index retreated 1.5 percent.

Standard & Poor’s 500 Index futures dropped 0.4 percent after the gauge reversed a slump of as much as 1.6 percent in the last hour of Wednesday trade, ending the session up 0.4 percent. European stock futures gained 1.3 percent.

G20 on Friday

Global equities have swung between gains and losses in the past week as investors tried to get a handle on the world economy’s prospects. And despite the Group-of-20 finance ministers that are scheduled to meet this Friday and Saturday in China U.S. Treasury Secretary Jacob Lew is doubtful that policymakers and industry leaders will be able to deliver an “emergency response” to the market turmoil.

According to Sam Tuck, a senior currency strategist at ANZ Bank New Zealand Ltd. in Auckland, “The new information that has been processed by the markets is the question of whether central banks are nearing the limit of their ability to soothe market fears and keep financial variables stable.”