South Korea's defense ministry said Japan, South Korea and the United States will hold their annual trilateral exercise Freedom's Blade from Sept. 7-11 in waters off Jeju Island.

MOFCOM said China and Switzerland have agreed on a high-level upgrade to their free trade agreement covering goods, services and investment. Both sides will apply zero tariffs to more than 99% of imports. The package strengthens rules of origin, trade facilitation and cooperation on standards and conformity assessment, lowering non-tariff frictions. Services and investment provisions are intended to boost Chinese producer-services exports to Switzerland and provide investors with higher-access, more stable, transparent and predictable market conditions. The upgrade also widens cooperation in digital trade, AI, sustainability, supply chains, pharmaceuticals, machinery and watches. Both governments are accelerating domestic procedures to sign and bring the upgraded agreement into effect as soon as possible.

South Korea's KOSPI fell back below 6,800, extending losses to 1.63%.