China convertible bond index opened 0.03% higher. Top gainers: Chun23 CB +19.79%, Lianrui CB +4.88%, Jiaze CB +3.13%, Ruike CB +3.07%, Jingyuan CB +2.34%. Largest decliners: Jinpu CB -5.06%, Shanbo CB -2.70%, Ruike CB -2.25%, Shenglan CB-02 -1.82%, Huamao CB -1.70%.

A-share PCB sector rebounded intraday; Shengquan Group hit limit-up, Longcheer Technology and Zhongjing Electronics had earlier hit limit-up, and Aoshikang, Hongchang Electronics and Defu Technology followed higher.

Australian Deputy Prime Minister and Defence Minister Richard Marles confirmed on the 31st that Australia will be unable to purchase newly built US Virginia-class nuclear submarines under the prior procurement agreement and will instead receive US in-service Virginia-class boats. Under the US-UK-Australia trilateral security partnership (AUKUS), Canberra had planned from the 2030s to acquire two US in-service Virginia-class submarines plus one newly built, improved Virginia-class boat. Marles said the adjustment will age Australia’s submarine fleet but could relieve pressure on US shipbuilding capacity.