Japan's finance minister Katayama said authorities will take appropriate FX action as needed and declined to comment on specific exchange-rate levels.

Huaxia Sci‑Tech Innovation 50 ETF (588000), E Fund ChiNext ETF (159915) and Huatai‑PineBridge CSI 300 ETF (510300) each recorded turnover above 10bn yuan for a third consecutive trading day, at 15.1bn, 12.9bn and 10.0bn yuan respectively. Huaxia Sci‑Tech Innovation 50 ETF posted a record single-day net subscription of 7.629bn units yesterday, equivalent to net cash inflows of 13.701bn yuan.

An expanded meeting of Shenzhen's municipal finance committee reviewed 1H economic performance and set H2 policy priorities. Industry: officials urged firms to track trends and concentrate support on leading and emerging companies, prioritize AI, biomed and other strategic sectors, and push new listed products to sustain industrial growth. Trade: directive to diversify export markets, expand goods and services trade, refine measures based on timely analysis, and strengthen enterprise-level support to maintain external trade momentum. Investment: emphasis on accelerating project delivery, bolstering market confidence, ensuring concentrated land supply for major projects, seeking policy funding, stabilizing industrial investment, and advancing high-quality urban renewal while leveraging the six networks to lift infrastructure investment capacity. Consumption: measures to unlock demand by improving the consumption environment, introducing distinctive consumer offerings, adjusting consumption-support policies, and expanding/upgrading goods, services and inbound consumption.