A Ukrainian lawmaker said President Zelenskiy will nominate Interior Minister Ihor Klymenko as defense minister.

Fitch: In 2026, sovereign rating upgrades in emerging markets will outnumber downgrades.

A-shares closed lower after intra-day rallies: Shanghai Composite -0.29%, Shenzhen Composite -0.97%, ChiNext -1.21%. Combined turnover on the Shanghai-Shenzhen bourses was about 2.571 tln yuan, down ~132.815 bln yuan versus the prior session. Medical services outperformed, with RuiZhi Pharma, Zhaoyan New Drug and Baihua Pharma hitting limit-up; Wanbang Pharma, Nanmo Biotech and Sunshine Nuohuo led gains. Baijiu stocks recovered from an early dip; Gujinggong, Jinzongzi and others hit limit-up, while Luzhou Laojiao, Shanxi Fenjiu, Jinshiyuan and Yingjia Gongjiu posted notable gains. Semiconductor and PCB-related compute-hardware names opened higher then slid: Qingyi Optoelectronics, Zhenbao Tech, Qiangyi Tech, Moxi and Dongwei Semiconductor fell more than 10%. Memory-chip names were weak—Baiwei Storage fell over 15%, while Demingli, Shenkeji and Lianwei Micro hit limit-down.