The yen slid to its weakest level versus the dollar since 1986. Japan's finance minister Katayama said Tokyo remains prepared to take appropriate action on the foreign-exchange market as needed, echoing recent remarks. She said her communications have been "steady" and that she only used the phrase "bold action" when pressed. Markets typically read "bold action" as a signal of possible direct intervention; her wording suggests she is not currently escalating that threat. Repeated verbal warnings

Morningstar cut its fair value estimate for JD.com (09618.HK) by 20% to HK$138.00 per share.

Fang Yi, chief strategy analyst at Guotai Haitong, said in a note that although Middle East geopolitical tensions remain volatile, the overall trajectory points to a reduced tail-risk scenario. With uncertainty falling and micro-level trading pressures easing, price discovery should reassert, making market-structure rallies likely to broaden; he recommends overweighting A-shares. Emerging risk boundaries and constraints suggest the downward adjustment in investor risk appetite and expectations is largely complete, returning markets to endogenous growth dynamics. Accelerating capital-market reforms imply policy intent to consolidate a steady-to-improving market backdrop. Traditional sectors are stabilizing; investment in China’s emerging industries is expected to accelerate given large market demand; China’s competitive manufacturing is globalizing, lifting multinationals and ROE, and 2026 GDP growth expectations may be revised up.