BOJ expected to hike to 1%, highest since 1995. Deputy Governor Uchida likely to deliver dovish tone to avoid market jolts, balancing inflation concerns with market stability. No clear signal on next rate hike timing.

China's May data shows weakness: retail sales contracting 0.2% (first since COVID reopening), fixed asset investment declining for second straight month. Only industrial production is accelerating due to AI-related export demand. Infrastructure spending on data centers, power grid, water networks expected to pick up in H2.

Iran-US deal reduces worst-case oil disruption risk, enabling risk-on sentiment and potential rotation beyond AI/tech into cyclicals like financials and industrials. Tech enthusiasm high but valuations stretched; investors rotating from AI model companies to semiconductors. Korea and Taiwan fundamentals still robust with single-digit P/E ratios.

Jardine Matheson targets 9% annual total shareholder return over 5 years, $500M buyback, 5% dividend growth. CEO Lincoln Pan outlines strategy to reduce conglomerate discount through asset recycling, portfolio balancing (reducing Indonesia exposure, increasing OECD), and building new growth pillars like radiology in Australia.