At the morning open, China 2-year government bond futures (TS) most-active contract was flat; 5-year (TF) flat; 10-year (T) flat; 30-year (TL) up 0.04%.

CENTCOM said more than 20 vessels are conducting military operations in the Middle East, including strict enforcement of the US "ironclad blockade" against Iran. As of July 28, it had rerouted 18 commercial ships, destroyed two vessels and boarded and inspected two others to ensure full compliance with the blockade.

William Bratton, head of cash equities research at BNP Paribas SA, said volatility in South Korea’s stock market highlights a disconnect between tech stock moves and earnings prospects. Year-to-date the KOSPI has accounted for 79% of single-day moves exceeding 5% among major Asian indices; the selling appears driven mainly by anxiety over the durability of AI-related spending. He expects market volatility to remain elevated.