Polish military said a Mi-24 helicopter was sent to the object's last-detected location to verify and confirm radar returns. The helicopter crew located a probable crash site near the village of Tarnawa-Kolonia in Lublin Voivodeship. Ground search-and-rescue teams and emergency services have been dispatched to the scene.

At the Hong Kong close, the Hang Seng Index rose 0.2% and the Hang Seng Tech Index fell 1.25%. New Oriental (09901.HK) rose 18.8%, JD Logistics (02618.HK) gained 3.5%, Zhipu (02513.HK) fell 16.5%, and Zhongji Xuchuang (03308.HK) closed down 2% on its first day of trading.

China Merchants Macro says the Fed's reaction function has shifted and the near-term question of whether it hikes matters less for markets. Over the past two meetings both nominal and real US Treasury yields rose materially, suggesting markets have front-run Fed tightening. A Fed official outlined a three-part reaction function: 1) the Fed is downplaying its role as markets move ahead of policy; 2) with labor roughly balanced, the Fed will lean toward tightening if underlying inflation trends up and will not readily "look through" supply-driven inflation, focusing instead on persistence and diffusion; 3) if price stability is achieved and underlying inflation falls, the Fed will be more inclined to ease. The official reiterated anti-inflation resolve but said he prefers a broader inflation gauge than PCE and hinted a new inflation metric could appear before next January. Until the Fed adopts a new inflation measure or demonstrates that high inflation is broadly persistent, the baseline remains for rates to be held unchanged.