U.S. Vice President Vance said about 15 million barrels of oil transited the Strait of Hormuz yesterday.

Bank of Japan account data suggest the government did not mount a large-scale yen intervention on Wednesday, indicating recent sharp FX moves reflected traders’ position adjustments as they revised BoJ rate expectations. The BoJ forecast the current account would shrink by ¥410 bln due to fiscal factors; an average estimate from three accounting firms was about ¥700 bln. That gap is well below ¥729 bln, the smallest intervention since 2022, and too small to imply the scale of yen-buying seen a month earlier. Market moves were partly driven by comments from US and Japanese policymakers that spurred speculation of accelerated tightening, but sources said the BoJ currently leans toward a 25bps hike at the September meeting, dampening bets on a larger move.

Market sources say chipmaker Jiangbolong has priced its Hong Kong offering at HK$236 per share.