A magnitude-5.0 earthquake struck Mindanao, Philippines.

JERA, one of the world’s largest LNG buyers and part of Japan’s biggest power producer, is seeking to expand long-term LNG sales overseas to absorb surplus volumes and broaden its global business, Jera Global Energy Solutions CEO Irtiza Sayyed said the company is looking to identify markets where additional volumes can be sold. Many Asian buyers are shifting to non-Gulf suppliers after ongoing Middle East fighting disrupted ultra-cold fuel shipments through the Strait of Hormuz, which handled about one-fifth of global flows, prompting contracts with exporters outside the Persian Gulf to reduce transit risk.

China A-share duty-free retail sector opened lower; Nanning Department Store fell more than 9%, Zhongbai Group and Ouya Group dropped over 6%, with Caesar Tourism, Wangfujing and Bubugao also declining.