BYD is accelerating talks over a potential entry into Formula One after Executive Vice President Stella Li met former Red Bull team principal Christian Horner in Cannes, according to reports. BYD plans further meetings with senior officials from F1 and the FIA. Talks remain at an early stage and there is no guarantee the company will enter the sport. It is also unclear whether BYD would develop its own power unit or source one from a supplier.

A股稀土永磁板塊震盪走強，龍磁科技漲超16%，三祥新材漲超8%，方邦股份此前20CM漲停，金力永磁、焦作萬方等跟漲。

A-shares are positioning themselves as the primary vehicle for Chinese household wealth, serving as a long-term alternative to real estate, according to UBS. Broad tech remains the dominant near-term growth theme, Meng Lei, China equity strategist at UBS Securities, wrote in a note. Earnings growth and sustained capital inflows could drive further upside. While favoring growth stocks in a "slow bull" environment, UBS also prefers cyclical sectors benefiting from recovering PPI and industrial profits, and remains positive on small-caps amid ample liquidity.