China A-share property sector rose; Fuxing Co. hit the daily trading limit, while Rongan Real Estate, Chengtou Holdings, Urban Construction Development, Shenzhen Zhenye A and Jingtou Development also gained.

Brazil's finance minister said the finance ministry is paying very high rates on long-term bonds and must address the issue.

UBS said Baidu's Q2 results were weak. AI cloud infrastructure revenue rose 50% YoY, down from 79% in Q1; UBS attributes the slowdown to revenue-recognition timing but says compute demand for AI training and inference remains healthy. UBS now expects H2 growth to reaccelerate above 60% as existing clients boost spending and the customer base expands, and has slightly raised its H2 AI cloud infrastructure growth forecast to >60%. The bank trimmed H2 core operating profit forecasts by 6% to reflect higher R&D spending, left full-year core revenue broadly unchanged, cut full-year non-GAAP net profit by 27%, lowered its target price to HK$155 (from HK$165) and kept a Buy rating.