Swiss National Bank says medium-term inflation expectations have risen only slightly.

China A-share PCB sector rebounded. Xianfeng Holdings posted a third consecutive daily limit-up; Yihao New Materials rose over 10%. Jingwang Electronics, Nanya New Materials, Guanghe Technology and Pengding Holdings also advanced.

UBS has hired former Goldman Sachs MD Takehiro Sakuramoto as head of Japan debt capital markets, aiming to rebuild its presence in the Japanese corporate bond market, an internal memo shows. Sakuramoto joined UBS Japan’s local investment bank on Thursday and will pursue underwriting mandates for corporate bond issuance, with an initial focus on foreign-currency bonds. He previously ran DCM at Goldman’s Tokyo office and is at least the fourth senior Goldman banker to join UBS Securities Japan in the past ten months; he also earlier worked in UBS’s capital markets team and at Morgan Stanley.