USD/JPY slipped below 160, down 0.15% intraday.

MoF official Guo Fangming said on the 8th that from 2024 the Ministry of Finance, jointly with the Ministry of Housing and Urban‑Rural Development, has started support for selected cities to carry out urban renewal. Over three consecutive years the central government will cumulatively support 50 key cities, including Beijing, Shanghai, Shenyang, Luoyang, Urumqi and Chengdu, as pilots. Central fiscal authorities will provide quota-based grants per city, differentiated for eastern, central and western regions, to fund selected model projects and institutional mechanism building.

A-share bank stocks rose amid choppy trade; Agricultural Bank of China, China CITIC Bank and Chongqing Rural Commercial Bank gained over 2%, while Bank of China, ICBC, China Construction Bank and Postal Savings Bank of China also advanced.