A-shares extend losses: Shenzhen Component down more than 2%, ChiNext down 2.5%, Shanghai Composite down 0.5%.

MHA analyst Connor Hicks says if a successor can deliver policy certainty, market volatility after Prime Minister Starmer’s resignation could ease. Hicks warns the next PM must balance political ambition with fiscal discipline; achieving that balance would likely be welcomed by investors seeking a more predictable, growth‑oriented policy backdrop. He says it is hard to predict the policy stance of leading contender Andy Burnham — who has previously presented as fiscally expansionary but recently pledged to adhere to current fiscal rules. Investors will focus on tax and spending choices; corporates want a clear long-term investment plan.

Thailand's Fertilizer and Agricultural Materials Association said global fertilizer shortages are easing, with urea tightness seen in March–May materially improved. Imports from the Middle East via the Strait of Hormuz have resumed and Saudi logistics have been adjusted to ship to Thailand via the Red Sea. The association said domestic retail fertilizer prices will be reduced gradually as costs fall, noting some inventories were bought at higher prices, and asserted prices will not rise further. Iran has confirmed readiness to supply urea to Thailand and told Thai authorities it will not levy special fees or commissions on vessels bound for the country; Russia has also expressed willingness to cooperate on fertilizer trade.