China A-share semiconductor sector widened losses; Tongfu Microelectronics and Yake Technology hit limit-down. Chaochun Yingcai plunged more than 15%. Goke Microelectronics, Shengong Co., Chipone Microelectronics, Xinyuan, Shengmei (Shanghai), Changguang Huaxin, Zhongke Lanxun, Liandong Technology, Yongxi Electronics, Jiehuate, Qizhong Technology, Hua Hong Hongli, Shengke Communications, Jingyi Equipment, Dapu Micro and Torrens each slid over 10%.

Investors have reason to worry about inflation, but that may not be the main driver of rising yields. Breakeven inflation is roughly in line with the Fed's 2% long-run target. A Capital.com analyst said investors can assume long-term inflation of about 2-2.5%, but oil, tariffs, fiscal policy and other supply shocks make that estimate less certain. She said the bond sell-off is being driven by persistent inflation risks, large-scale government borrowing and intensifying capital competition, rather than by a sharp rise in expected inflation alone.

Refinitiv: a company executive said Chery's robotics unit AiMoga is considering a separate IPO.