South Korea's KOSPI extended losses to 4%, trading at 6,328.94.

US Dollar: 1. US Treasury Secretary Bessant: Fed Chairman Warsh wants to maintain flexibility to achieve the best outcome. Warsh wants to retain options. Underlying inflation data is very moderate. Core inflation is slowing. Excluding the energy component, core inflation has been very stable. 2. Fed's Paulson: Data suggests that Fed policy is "moderately restrictive." Energy prices are volatile, and data suggests that their impact can be temporarily ignored. No interest rate guidance can be provided at this time, and we remain open to the possibility. If there is no progress on inflation, policy may need to be readjusted. We want to weigh the pros and cons of the FOMC meeting six times a year versus eight times. 3. Fed's Schmid: Tighter monetary policy is needed to suppress inflation; don't let your guard down prematurely because of optimistic monthly data; excluding energy inflation, it is still too high, and the supply-demand imbalance is the root cause of inflation. 4. "Fed mouthpiece": US Treasury Secretary Bessant's policy response function has shifted to a less dovish stance. His comments this year suggest that the Fed should continue to keep interest rates unchanged. Euro: 1. US Treasury Secretary Bessenter: We are in close contact with Europe (including the ECB). We have assured Europe that (selling euros to buy yen) is simply a reallocation of reserve assets. Pound Sterling: 1. Market pricing no longer bets on a 25 basis point rate hike by the Bank of England this year. Yen: 1. Former Bank of Japan official Atsushi Takeuchi: If the yen weakens again, Japan and the US may intervene again. 2. The Bank of Japan stated that rising inflation is the reason for higher bond yields. 3. Bank of Japan data shows that the expected funding gap in the money market is 3.38 trillion yen, compared to previous forecasts of 2.32 trillion to 2.6 trillion yen. Japan may not have intervened in the foreign exchange market on Monday. 4. US Treasury Secretary Bessenter: (Regarding yen intervention) We believe they will take the right policy. Japan is working to curb the yen's undervaluation. If the yen depreciates, other currencies will follow. A stable yen is crucial for the US and the entire Asian region. We believe the Bank of Japan governor will take the necessary action. The US will take all necessary measures to support the yen. 5. US Treasury Secretary Bessen: It is reasonable for the Federal Reserve to consider expanding its repurchase facilities for foreign and international monetary authorities. This facility is no different from foreign exchange swap lines. The Fed's liquidity tools are designed to control volatility in offshore markets. Korean Won: 1. Bank of Korea meeting minutes: In addition to the recent interest rate hike, further action may be needed. 2. South Korean retail investors are accelerating their withdrawal from the stock market, with trading volume falling to a six-month low. 3. South Korean Minister of Trade, Industry and Energy stated that the country will reassess its accession to the CPTPP to expand export markets. 4. US Treasury Secretary Bessen: He has seen excessive volatility in the Korean won. 5. US Treasury Secretary Bessen: Many Asian currencies are currently following the yen's trend, such as the Korean won. 6. According to South Korean media: South Korea's minimum hourly wage for 2027 will be set at 10,700 won, a 3.7% increase from this year. Other: 1. Indonesia's second-quarter GDP grew by 5.29%, exceeding market expectations. 2. The Reserve Bank of India maintained its interest rate unchanged for the fourth consecutive time, maintaining a neutral stance.

A-share cement stocks rebounded after a period of volatility, with Western Construction and Tibet Tianlu both hitting their daily limit. Ningxia Building Materials, Huaxin Building Materials, Subote, Tianshan Cement, Tianyuan Cement, and Qingsong Building Materials also rose.