The yen jumped on Friday after Japan's finance minister Katayama called for pension funds to increase domestic asset allocations, briefly reversing the currency's decline. USD/JPY fell about 0.7% to 161.29. Investors remain skeptical the gain will stick, citing lingering geopolitical risk, fiscal concerns and interest-rate differentials; without follow-up measures the yen could resume weakness toward new 40-year lows. Official intervention risk persists, but markets are broadly doubtful the gove

A-share market turned negative in the afternoon: Shanghai Composite slipped into the red, Shenzhen Component fell more than 0.6% and ChiNext dropped over 2%. Leading sector declines were lab-grown diamonds, memory chips and fluorochemicals.

Sources said in SK Hynix’s roughly $26.5 billion US listing, ADR allocations to major investors were smaller than initially expected as broader demand crowded the book. Cornerstone investors Baillie Gifford, Coatue Management and Situational Awareness Partners received about $5.0 billion of ADRs, roughly $2.0 billion less than their highest indications during bookbuilding. The deal was about seven times oversubscribed with orders from more than 500 institutional investors, including typically long-only funds, tech-focused funds and sovereign wealth funds; 10 investors took 50% of the offering and the top 25 accounted for two-thirds. SK Hynix management was heavily involved in the allocation process.