Japan 20-year bond yield rose 3.0 bps to 3.780%.

South Korea has launched a 24-hour KRW trading system, Finance Minister Koo Yun-cheol said Monday after visiting Hana Bank’s trading floor in central Seoul. Koo said the launch reflects confidence in Korea’s economic fundamentals, citing strong external resilience and a record current account surplus, and is a market-access reform responding to rising foreign investor demand — evidenced by Korea’s inclusion in the World Government Bond Index. He added that round-the-clock trading will allow domestic and foreign investors and trading firms to transact FX without time constraints and will be a starting point for the won’s next leap.

Reuters survey: After the July monetary policy meeting, 14 of 26 economists expect the RBNZ to raise rates by a further 25bps before end-September, taking the terminal policy rate to 2.75%.