Hong Kong stocks rose; the Hang Seng Index gained 2.0% and the Hang Seng Tech Index gained 2.1% as internet and tech shares rebounded.

The Ministry of Housing and Urban‑Rural Development held a national video conference on urban drainage and flood control, instructing local authorities to implement detailed measures to ensure safe operation of urban infrastructure. It ordered tightened accountability, hazard inspections, reinforced protective measures and rigid control of known water‑logging sections; continued advancement and strict management of drainage and flood‑control projects; and improved joint flood coordination with meteorological, water, traffic and public security agencies for precise scheduling of flood and drainage facilities. The ministry said Typhoon Bavi is expected to make landfall in China and northern regions have entered the key late‑July–early‑August flood‑control period, calling for intensified monitoring, early warning and emergency‑rescue readiness.

RBNZ said the committee noted financial conditions have eased recently.