China most-active methanol contract hit the daily limit down, falling 6.01% to 2,769 yuan/ton.

South Korea said on Wednesday it scrambled fighter jets after Russian military aircraft entered its air defense identification zone (ADIZ). It was the second such incursion in weeks, the defense ministry said, adding several Russian aircraft entered and then left the ADIZ over the East Sea and did not violate South Korean airspace.

Mitsubishi UFJ Financial Group now expects the Bank of Korea to deliver consecutive hikes and to raise policy rates by 25bp in August. MUFG cites persistent core inflation, resilient semiconductor exports and memory prices, and a firm property market as reasons for further tightening. A hawkish BoK stance is seen as supportive for the won. MUFG revised its outlook within a month — after the July BoK meeting it had expected rates to be unchanged in August with a hike in Q4, but has moved the anticipated hike forward to August.