Yantai Maritime Safety Administration posted on the China Maritime Safety Administration website that it has issued a navigation warning for military activity in waters of Laizhou Bay, Bohai Sea on Jul 16–17; entry to the affected area is prohibited.

Markets widely expect the Bank of Korea to raise rates on Thursday, a move likely to cool the Korean property market. Redevelopment and reconstruction projects, which typically require large resettlement loans and run about a decade, would be hit directly—most relocation loans are floating-rate, so a hike could immediately raise additional contribution payments and delay projects. Nam Hyuk-woo, real estate researcher at Woori Bank, warned that a rate rise combined with banks tightening lending and cutting quotas would create a double squeeze: weaker purchasing power for genuine buyers and wider bank lending spreads. High-priced, investor-concentrated areas along the Han River and in Gangnam are also likely to be affected.

Capital Economics analyst Thomas Ryan says Canadian manufacturing sales rose further in May, with new orders and unfilled orders surging, supporting a cyclical uptrend despite US punitive tariffs on the sector. Sales climbed 1.3% MoM, slightly above Statistics Canada’s preliminary 1.1% estimate. Volumes rose 0.5% MoM and are more than 6% above their early‑year trough. Ryan says the data imply upside risk to the preliminary estimate of May GDP growth of 0.1% MoM.