Prime minister magyar said Hungary will introduce household-income–based back-to-school subsidies, with annual fiscal outlays of about HUF 40 bln.

Zhenhua Technology shares fell sharply in early trade on July 2; at midday the stock was 58.97 yuan, down 5.35%. The previous trading day the stock hit the daily up limit after reports of MLCC suppliers raising prices. The company said MLCC price increases for AI servers are unrelated to its core business, noting AI-related MLCC hikes mainly involve a few large, consumer-facing suppliers and that Zhenhua’s MLCC business is very small and not separately quantified. It acknowledged some product price rises from higher raw-material costs but said increases were smaller than market expectations and that it is pursuing material substitution and other cost-saving measures.

Fed chair Kevin Warsh declined to say whether the Fed will raise rates at its July meeting, saying he expects a vigorous internal debate when policymakers meet in four weeks and that he had no further information to disclose. He made the remarks at the ECB annual policy seminar in Sintra, his first public appearance since last month’s Fed press conference. Investors have lifted expectations for additional hikes since that press conference, but market-implied probability of a July rate move remains below 50%.