Daiwa Securities economist Yutaro Suzuki says Japanese producer prices are likely to rise more than 5% YoY and that oil and petroleum-product prices could remain elevated for a period. Bank of Japan data showed the June corporate goods price index (CGPI) up 7.1% YoY. Suzuki warned renewed Middle East tensions pose upside risk to oil, but said he expects oil to decline gradually over the long run and for the CGPI to moderate modestly before year-end.

日本经济大臣木内：批发价格上涨反映了近期油价上涨，但消费者通胀的涨幅温和。

A Guangdong draft 15th Five-Year plan for the information and communications industry, released for public comment, proposes targeted support for basic telecom operators to join provincial R&D programs and directs strategic labs (including Pengcheng National Laboratory) and leading firms to build a full-process innovation ecosystem. The plan calls for accelerated technology development in 6G, optical communications, satellite communications, quantum communications and intelligent communication systems, and for research on new network architectures such as air-space-ground integrated networks and sensing‑compute‑communications integration. It prioritizes cultivating a 6G industry chain and advancing R&D and industrialization of core components — digital baseband chips, RF front-end chips, 6G modules — and next‑generation network equipment. The draft also pushes application research on integrating quantum encryption with information networks and fusing quantum and classical computing, targeting breakthroughs in quantum computing, quantum materials, precision measurement, quantum security and key core devices.