The National Bank of Kazakhstan cut its policy rate to 16.25% from 16.75% and said there is limited room for further rate cuts.

JP Morgan strategists warn that a break of USD/JPY above 155 could trigger concentrated short covering and accelerate yen appreciation. They estimate 16–17 trillion yen (about $102.6 billion) of yen short positions remain open and say, in theory, full covering of those positions could push USD/JPY down to the 142–146 range. Recent price action appears consistent with a still-large short position base, raising the risk of larger-than-expected yen strength.

Guangzhou and Hong Kong are planning a deep cooperation zone for the horse industry; preparatory work is advancing. Guangzhou’s Conghua district will push a “one core, three zones” horse-industry layout, accelerate construction of supporting facilities around the Conghua racecourse under an agreement with the Hong Kong Jockey Club, and develop horse-themed cultural tourism while seeking to pilot cross-border tourism and medical/retirement-resort projects to expand the industry chain and position the Greater Bay Area as a global equine-sports and horse-industry hub.