Libya's National Oil Corporation says more power-generation units have been taken offline due to gas and fuel shortages.

Citi sets a 0–3 month gold target of $4,500/oz. Its baseline projects India’s Q3 gold imports will remain weak despite typical seasonal restocking, citing ample scrap supply, cautious consumer sentiment and local price discounts that curb fresh imports. The target assumes easing of Strait of Hormuz tensions and a Fed shift toward a less-hawkish stance. Near-term downside risks include a major re‑escalation, AI-driven de‑risking and continued Fed hawkishness.

Hong Kong equities extended multi-week gains; the Hang Seng Index opened 64 pts at 25,271 and peaked 233 pts higher at 25,440 before reversing, testing the 100-day moving average after weakness in memory and AI names. The market recovered into the close; Hang Seng finished up 0.41%, Hang Seng Tech +0.61%, turnover HK$250.63bn. Sector winners included gaming software, non-alcoholic beverages and restaurant stocks; film & entertainment and autos rose for a second day, while education and road transport rebounded. Laggards were memory/storage, newly listed AI names, PCB plays, semiconductors and power-equipment stocks. Notable movers: Horizon Robotics (09660.HK) +8%, NetEase (09999.HK) and JD.com (09618.HK) >+4%, Leapmotor (09863.HK) and SenseTime (00020.HK) +3.7%; China Southern 2x long SK Hynix (07709.HK) down >30%, China Southern 2x long Samsung Electronics (07747.HK) -26.7%, Laopu Gold (06181.HK) down >23.5%, Zhipu (02513.HK) down >18.5%, MiniMax (00100.HK) down >14%.