China's SSE 50 Index decline widens to 1%.

Tehran Stock Exchange composite index fell about 65,000 points to near 4.8 million, with 61% of listed stocks retreating. Banks, petrochemicals, metals, pharmaceuticals, cement, leveraged funds, fixed-income funds, real estate and equity funds, and oil products were broadly lower; energy funds and the food sector advanced. Net outflows from stocks, pre-emptive subscription rights and equity funds totaled about 105.6 bln toman; fixed-income funds saw roughly 36 bln toman of net redemptions. Sell-side block orders stood near 13.1 tln toman versus buy-side block orders of about 3.7 tln toman.

CITIC-Prudential bond fund manager Wu Qiujun said the 10-year Chinese government bond yield is trading near 1.73%, with a market focus on 1.70% — reaching that level would imply roughly 2–2.5 bps of additional downside. The 30y–10y term spread has continued to compress, leaving the ultra-long end with catch-up upside; tactical swing positions in longer-dated bonds could generate returns. China 30-year government bond futures around the 114 yuan level may trigger short-term consolidation and volatility and should be monitored as an attention window. Wu sees scope for further rate declines in Q4 and says the probability of the 10-year yield breaching 1.70% will rise; on a 1–2 quarter or multi-quarter holding horizon she considers there to be a basis for the 10-year yield's central level to move below 1.70%.