U.S.-China trade negotiations achieved a framework agreement in London, with Commerce Secretary statements evolving from "likely ease" to "will be resolved" regarding Chinese rare earth restrictions. This breakthrough built on previous Swiss accords, addressing the stalemate that had persisted since the three-week tariff talks mentioned in recent days.
Semiconductor stocks drove Tokyo markets 300 points higher as chip shares resumed their leadership role, recovering from Trump tariff-related declines. Auto parts supplier Marelli filed Chapter 11 bankruptcy after private restructuring talks failed, escalating Nissan's supply chain problems into legal proceedings.
Prime Minister Koizumi rejected consumption tax cuts while the ruling coalition finalized plans for universal 20,000 yen payments. Constitutional Democratic Party opposition to filing no-confidence motions strengthened. Nintendo's Switch 2 achieved 3.5 million unit sales in four days. Los Angeles remained under curfew as Governor Newsom warned against Trump overreach amid ongoing Marine deployments.