On July 8 the New Development Bank (NDB) appointed Fu Daopeng vice president and chief financial officer, responsible for the bank’s financing and funds management, finance, budgeting and accounting. Fu previously served as director of the Hubei Regulatory Bureau at China’s Ministry of Finance and has nearly 30 years in the public sector, with experience in fiscal policy and international public finance governance and familiarity with UN budget, finance and accounting frameworks and related rule

Hang Seng TECH Index extended afternoon gains to about 5%; Hang Seng Index up 3.10%. Tech and chip names led the advance: Zhipu (02513.HK) up over 14%, Alibaba Group (09988.HK) up over 12%, Lenovo Group (00992.HK) up over 8%, Kuaishou Technology (01024.HK) and SenseTime (00020.HK) up over 7%, Xiaomi Group (01810.HK) up over 8%.

A K2Airways Boeing 737 cargo aircraft went missing on the evening of the 7th while flying from Sharjah, UAE, to Karachi. Pakistan airport authority said the aircraft reported a navigation-system fault at 21:18 Pakistan time and requested guidance from Karachi area control; radar at 21:21 showed a sudden rapid descent and abrupt heading change, and contact was lost about 155 nm (≈287 km) west of Karachi. Five crew were onboard. Pakistan’s search-and-rescue coordination centre launched an emergency response and is coordinating multi-agency searches in the area.