FX & Macro: China’s yuan weakened to 6.8203 per USD, with the central parity rate set by the China Foreign Exchange Trade System. Telecom Opening: China moved to open value-added telecom services to foreign investors, removing ownership caps in pilot zones and approving 166 overseas-funded firms. China Growth Push: Beijing is mulling multi-trillion-yuan “Six Networks” investment—water, power grids, computing, next-gen telecom, urban pipelines and logistics—to shore up demand and stabilize growth. Tech & Markets: Two Chinese memory chipmakers, CXMT and YMTC, are preparing blockbuster IPOs on Shanghai’s STAR Market amid AI-driven demand, though liquidity concerns are rising. China Regulation: China appointed Ding Xiangqun as the Communist Party committee chief of the National Financial Regulatory Administration. India Rates/Inflation Watch: India’s growth could slip toward 6% as elevated oil prices persist, with risks worsening if West Asia tensions drag on. Capital Flows: India is set to scrap capital gains tax on FPI investments in government securities to support overseas inflows. Debt Markets: IIFL Finance raised $500m via dollar bond sales, signaling a reopening for Indian issuers after the West Asia shock. Aviation Fuel Shield: India approved a Rs 10,000 crore ATF price stabilisation fund to protect airlines from West Asia-linked fuel volatility. Banking Deal: MUFG’s $4.4bn investment is expected to lift Shriram Finance’s growth and lower funding costs. Geopolitics & Risk: Asia stocks slipped as US-Iran tensions flared again, pushing markets back into risk-off mode. Pacific Environment: Fiji rejected an Australian billionaire’s plan to ship and burn regional waste, citing health, hazardous ash and public risk concerns.