US June one-year inflation expectations (final) 4.6%, in line with forecast 4.6% and prior 4.6%.

By midday China A-shares were sharply lower. Shanghai Composite -2.14%, Shenzhen Composite Index -3.04%, ChiNext Index -3.72%. Combined Shanghai/Shenzhen turnover CNY2.43 tln, up CNY3.3 bln vs prior session. Glass-substrate names outperformed, with Kaisheng Technology nearing the daily limit. Select chip stocks were active; Tongcheng New Material and others hit limit up. Lithography-machine plays were firm, with Xinlai Yingcai and Haili stocks touching limit. Non-ferrous metals, pharmaceuticals and semiconductor sectors led the declines. Roughly 4,600 stocks fell.

Sources say JP Morgan CEO Dimon is expected to remain CEO for three more years.