UK Prime Minister Burnham said he would never take risks with the economy and reiterated his commitment to adhering to fiscal rules.

South Korea's President Lee told a cabinet meeting critics say leveraged investment products have amplified recent stock-market volatility. He said market participants view the issue as a serious policy concern and urged swift supplementary measures to address the risks. The remarks come as the South Korean stock market has seen sharp swings in recent months; critics warn leveraged tools can magnify price moves in both declines and rallies.

New UK prime minister Andy Burnham has unexpectedly appointed former defence secretary John Healey as chancellor of the exchequer. Healey served as a junior Treasury minister from 2002–07 but was not regarded as a frontrunner; Home Secretary Shabana Mahmood and Energy Secretary Ed Miliband had been viewed as leading candidates. Burnham’s pick may reflect a preference for a chancellor who will implement his agenda rather than pursue independent policy. Healey resigned from Keir Starmer’s government in protest at delays to planned defence spending increases amid rising external threats; his resignation was widely seen as a decisive blow to Starmer’s prospects.