韩国总统李在明：将设立“未来应对基金”，将额外税收引导至富有成效的未来投资项目。

JP Morgan raised its price target for Zhipu (02513.HK) by 20% to HKD 2,400 from HKD 2,000, marking a second increase in one week (the bank moved the PT from HKD 1,800 to HKD 2,000 last Tuesday). JP Morgan said proceeds from a USD 4.0 bln equity placement will ease compute-supply bottlenecks and support further model-training investment; the bank added that new inference capacity could convert into annual recurring revenue within 12 months, analysts including Olivia Xu wrote. JP Morgan also cut its price target on MiniMax (00100.HK) to HKD 240 from HKD 300, citing share dilution after the company’s lock-up expiration and the fundraising; this follows a downgrade last week.

The Russian Defence Ministry said strikes by Russian armed forces damaged port infrastructure at Chernomorsk used for military cargo transport, including storage tanks.