Japan’s push to steer more national pension assets into domestic markets risks redirecting billions into Japan and trimming fee revenue for foreign managers. Finance Minister Katayama said last Friday the government aims to substantially raise the national pension fund’s allocation to domestic assets, prompting investor bets that billions of dollars could flow into Japanese markets. The Government Pension Investment Fund (GPIF) manages $1.8 trillion; roughly $93 billion of overseas exposure is almost entirely run by foreign managers. As of the fiscal year to March 2025, GPIF relies on 35 external managers for overseas mandates; those firms collectively earned about JPY21bn (~$130m) in fees, and some global managers could face losses of tens of millions of dollars in management fees. Broadridge Asia-Pacific head of growth solutions Yoon Ng says passive foreign managers may come under pressure while domestically strong active managers stand to benefit.

有報道稱，英國首相繼任者安迪·伯納姆將審查一項計劃，該計劃旨在幫助首次購房者負擔得起房產，受此影響，英國住宅開發商指數上漲2.3%，住宅開發商Persimmon上漲3.3%，在英國富時100指數中漲幅居前。Investec分析師Aynsley Lammin表示，重新引入該計劃具有充分的邏輯，它可能對行業大有幫助，並有望緩解房屋可負擔性方面的限制。

Ukraine's deputy prime minister said a Russian attack on a Togo-flagged civilian merchant vessel killed 3 crew and injured 5.

烏克蘭副總理：俄羅斯對掛託戈的民用商船的攻擊造成三名船員死亡，五人受傷。

The State Council approved an 'expand consumption' 15th Five‑Year plan targeting total retail sales of consumer goods of about CNY60 trillion by 2030. The plan aims to raise the household consumption rate and strengthen consumption's contribution to growth, shift consumption toward services and digital channels, expand development‑and‑upgrade consumption, and narrow urban‑rural, regional and group consumption gaps. It also targets higher‑quality full employment, income growth aligned with economic expansion, and a more sustainable social‑security framework to support stronger household spending and steadier consumption expectations.

JP Morgan raised its PT on Marathon Oil (MRO.N) to $300 from $257.