SoftBank said its Vision Fund posted JPY 255.78 bln of investment gains in Q1. Holding in Intel generated JPY 1.3 tln of investment gains.

Caixin reported on Aug 5 that Beijing and Hangzhou have recorded cases of personal income tax being levied on Hong Kong insurance returns—specifically insurance dividends and interest on prepaid premiums—with individual cases applying a 20% rate. The report said the levies are not yet widespread and there is no unified, clear enforcement standard. The Hong Kong Insurance Authority said the HONG KONG GOVT and the regulator are closely monitoring mainland tax arrangements for financial products and will keep close industry communication. It reiterated that Chinese residents have long been required to declare and pay tax on overseas investment income and advised the market not to over-interpret the reports. The regulator noted Hong Kong’s insurance market remains mature and offers flexible product features—currency choice, global asset allocation and wealth-planning services—that continue to attract mainland clients.

Japan 20-year government bond yield fell 3.5 bps to 3.655%.