CSI 500 index futures (IC) front-month contract fell below 7,400, down 2.71% on the day.

Some senior U.S. officials have said they will probe Chinese AI firms for allegedly "distilling" U.S. frontier models and could sanction them for "stealing U.S. intellectual property." MOFCOM spokesperson said Beijing opposes politicizing and instrumentalizing tech and trade issues, rejects smearing and sanctioning Chinese companies on unfounded grounds, and warned such threatened measures lack factual and legal basis, represent double standards and constitute typical AI hegemonism. MOFCOM added the U.S. is ignoring that release timings for Chinese and U.S. frontier models are very close and that some Chinese models have already reached leading capabilities.

Reserve Bank of Australia Governor Bullock said further oil shocks could entrench higher inflation expectations.