Pakistan's prime minister phoned Iran's president, urging restraint, dialogue and diplomacy to preserve regional peace.

PBOC conducted a 200bn yuan 7-day reverse repo today; bids 200bn yuan, allotment 200bn yuan; rate 1.40%, unchanged from prior operation.

China's Ministry of Water Resources on July 10 activated a Level-IV flood-defense emergency for Zhejiang and Fujian and sent two working groups to frontline flood-control sites to assist and advise. Typhoon Bavi combined with an incoming cold front is expected to bring widespread heavy rainfall to eastern China on July 11–12, with central–northern Fujian and central–southern Zhejiang facing potential torrential downpours. The Min, Ou and upper Qiantang river basins and coastal rivers are forecast to see significant water rises; the Min and Ou rivers may generate numbered flood events. Coastal tide gauges in Zhejiang and Fujian are likely to exceed warning levels at many stations, and hilly areas face elevated mountain-torrent/flash-flood risk.