Nebius (NBIS.O) rose 2.6% in pre-market trade after Goldman Sachs raised its PT.

China Central Depository & Clearing Co. (CCDC) said it will cut fees for multiple bond-market services, effective Sept. 1, 2026 through Dec. 31, 2028. Key measures: full waiver of issuance registration fees for Panda (international) bonds. Interest-payment/settlement fees for outstanding interbank bonds reduced to 95% of prior rates, leaving a post-discount rate of 0.0000475 of face value (0.00475%, 0.475 bps); interest-payment fees for Sci-Tech innovation bonds and Panda bonds fully waived. For interbank bond types and issuers not covered by existing concessions, cash bond settlement fee will be 135 yuan per trade (10% discount). Interbank repo and bond-lending settlement fees cut to 95%: pledged repo single-security 114 yuan/trade, multi-security 190 yuan/trade; sell-out (buyout) repo 190 yuan/trade; bond lending (including cross-custodian and centralized lending) 190 yuan/trade. Counter (OTC) bond settlement fees cut to 95%, resulting in a rate of 0.000019 of face value (0.0019%, 0.19 bps) with a per-trade cap of 120 yuan. CCDC said it will notify separately of any further adjustments.

Foreign media, citing people familiar with the matter, report Dharmacapital moved all staff to Singapore earlier this month, leaving no HFT firms headquartered in Japan. Sources said Japan's relatively higher tax burden was a partial driver. Dharmacapital Pte CEO Akiyoshi Shiotani said: "The main reason for the move was to gain better access to global markets. Japan remains our most important market." The Japan Financial Services Agency's July registry shows 53 HFT firms trading in Japanese markets; Dharmacapital was the only firm based in Tokyo. Market participants say Tokyo's struggle to consolidate as an international financial centre and factors such as relatively high income-tax rates and language barriers have pushed some financial firms to other Asian hubs.