China's National Data Administration said it has officially launched a national data property registration system to accelerate circulation and use of data as a production factor. Luan Jie, director of the administration's Policy and Planning Department, said the unified national registry will address the coexistence of multiple local registries, inconsistent standards and weak mutual recognition, and implement one-time registration usable nationwide to speed construction of an integrated nation

Russian Defence Ministry said Russian air-defence systems shot down 777 Ukrainian drones overnight.

Edmond de Rothschild Asset Management says recent yen gains signal the start of a broader correction to a long-held undervaluation. Strategy chief Michael Nizard wrote that for years the yen was driven mainly by the US-Japan rate gap and its role as a funding currency for global carry trades; it is now trading increasingly on its own fundamentals. He added the yen may be resuming its role as a fundamentals‑driven currency and that any pullbacks in yen crosses should increasingly be treated as opportunities to rebuild or add long yen positions.