Gold

Dow tumbles 800 pts, Nasdaq/S&P 500 hammered as rate cut bets pare. Nvidia slide fuels fears.

Japan PM Takaichi said it is too early to set a numerical minimum-wage target, arguing the government should instead foster conditions that let firms lift pay above inflation. Regional businesses have voiced concerns about mandated wage increases.

UBS: China’s AI power build-out (5–6GW) is modest vs U.S. (40–45GW), signalling no bubble. UBS lifts China power-demand outlook, sees AI-driven surge and faster energy investment.

PBOC is expected to set the USD/CNY reference rate at 7.0964 – Reuters estimate

China opens doors for private capital in infra projects, lifting ownership caps. FDI down 10% signals shift.

Gold rebounds to $4,260 on ETF demand; UBS sees 10% upside on risks. Trading volume hits $208B.

China - Evergrande Property Services invites updated bids as liquidation process advances The slow progression underscores ongoing uncertainty around asset realisation from the wider Evergrande collapse.