Tesla has registered a subsidiary in Ho Chi Minh City, according to a corporate registration document. The entity, Tesla Motors Vietnam Limited Liability Company, lists registered capital of VND 77.67 bln (about $3.0m), signalling Tesla’s formal entry into one of Southeast Asia’s fastest-growing electric-vehicle markets.

Shanghai Financial Regulatory Bureau issued guidance to boost tech finance in the city's banking and insurance sector: it will explore and refine duty-of-care exemption and fault-tolerance frameworks, including formal positive/negative exemption lists, clarified accountability and higher exemption/reduction ratios; encourage banks to raise tolerance for non-performing loans to technology SMEs by referencing inclusive small-business lending standards and to pilot differentiated NPL disposal methods; and urge insurers to adopt innovation fault-tolerance mechanisms that permit greater tolerance in combined loss ratios and cost ratios for incubating, data-sparse insurance products.

Spot gold opened about 0.4% lower, trading at $4,330/oz.