President Trump said he has authorized drafting legislation to break what he described as the monopoly of a handful of large food processors and to give farmers and ranchers the right to process their own products. He said the industry is effectively concentrated in about four firms, many of which he characterized as largely foreign-owned, and that the effort will move quickly.

Baozun (BZUN.O) Q2 total net revenue rose 7% YoY to 2.7 bln yuan; non‑GAAP operating profit was 74 mln yuan. E‑commerce revenue rose 5% to 2.3 bln yuan with non‑GAAP operating profit of 107 mln yuan — the strongest Q2 e‑commerce profit since 2022 — while brand‑management revenue rose 22% to 486 mln yuan and operating losses narrowed. Management raised its 2028 non‑GAAP operating profit target to 700 mln yuan from 550 mln yuan. After the results, CITIGROUP kept a Buy, raised its PT to $5.30 from $4.50 and lifted 2026–28 non‑GAAP net‑profit forecasts by 36%, 40% and 30%; CITIC Lyon upgraded to outperform, raised its PT to $3.80 from $3.20 and increased adjusted net‑profit forecasts for this year and next by ~20%; CMBI kept Buy, raised its PT to $4.23 from $3.98 and raised operating‑profit forecasts for the next three years. Brokers cite stronger e‑commerce margins, narrower brand‑management losses and AI/automation efficiency gains as key profit drivers; whether AI can scale from pilots to sustainable, quantifiable profit uplift is the main medium‑term value trigger.

Japan's 30-year government bond yield rose 2.5 bps to 4.085%.