Meta Platforms(META.O)漲近6%，創下自四月以來的新高。

After a rare zero issuance in Q1, Chinese banks' Tier-2 perpetual bond issuance accelerated sharply in Q2, exceeding CNY1 trillion in aggregate. Issuance has concentrated with large state-owned banks as the dominant issuers while small- and medium-sized banks have slowed issuance amid downward pressure on capital adequacy ratios. Smaller banks are pursuing alternate recapitalization channels—convertible-bond conversions, injections via local government special bonds and other innovative tools are accelerating. Market participants say the issuer split reflects credit stratification and a reworking of regulatory logic, highlighting more granular risk pricing and the urgency for smaller banks to both raise capital and improve asset quality.

USD/JPY little changed in short-term trade, trading at 161.66.