On Aug 20 Latvia’s armed forces said a drone that entered its airspace and was shot down on Aug 14 originated in Ukraine. NATO previously said the drone entered the airspace of NATO and EU member Latvia during a Ukrainian strike on a Russian port and was downed by an Italian fighter based in the Baltic region.

JPMorgan says the Bank of Japan faces an increasingly difficult policy loop: rising yen depreciation pressure could force earlier rate hikes, but a September move seen by markets as a direct response to the currency may encourage bets on faster follow-ups and raise policy-expectation uncertainty. After June’s tightening, a September hike would shorten the interval to three months, faster than the previously signalled gradual, data-dependent pace. JPMorgan cautions that if markets price a ‘weaker yen → BoJ hikes’ feedback, future tightening may become market-driven, increasing the sensitivity of the yen and JGBs to exchange-rate swings; it therefore expects policy adjustments in September and December, advancing BoJ normalization.

Kuaishou (01024.HK) shares opened 4.76% lower after the company reported 1H adjusted net profit of 7.287 bln yuan, down 28.5% YoY.