Hang Seng Tech Index rallied sharply in afternoon trade, up just over 1%; Lenovo Group (00992.HK) led components, jumping more than 16%.

RBA's Kent said valuations in some equity markets do appear very generous.

Deutsche Bank analyst Sanjay Raja says the UK economy is likely to slow in H2 2026 but could see upward revisions if current resilience continues. Q2 GDP rose 0.4%, leaving H1 annualized growth at 2%, and the UK appears to have ranked top among G7 economies for growth for a second consecutive quarter. Raja warns downside from an energy shock as rising fuel bills squeeze households and firms, and expects sequential growth in H2 to be nearer 0.1% while noting some modest upside risks that could prompt forecast upgrades.