Highlights:

• Yen Holds Gain Against Dollar After BOJ Keeps Rates Steady — The yen maintained gains following the Bank of Japan's decision to hold its benchmark rate unchanged amid escalating tensions in Iran. Bloomberg Markets

• UBP Sees Decade-Long Yuan Rally on Fundamentals, Policy Reforms — Union Bancaire Privée has positioned the Chinese yuan as a strong bet, expecting sustained appreciation against the dollar over the next decade driven by improving fundamentals and policy reforms. Bloomberg Markets

• India Nifty's Gains Look Fragile on Soaring Crude, HDFC Bank Board Exit — Local Indian shares have lost more than $600 billion in market value this year amid elevated oil prices and leadership changes. Bloomberg Markets

• Lynas Expands Rare Earths Clout With First Batch of Samarium — Lynas Rare Earths has begun producing samarium at its Malaysia facility, strengthening its position as a non-Chinese supplier of critical materials for advanced industries. Bloomberg Markets

• Alibaba AI Business Is 'Free Call Option,' First Eagle Fund Says — A $17 billion fund manager argues Alibaba's share price reflects only its e-commerce operations, leaving AI potential unpriced. Bloomberg Markets

• Gas Traders Assess Damage at World's Top LNG Plant in Qatar — Natural gas traders braced for volatility after Qatar reported extensive damage to the world's largest LNG facility following Iranian strikes. Bloomberg Markets

• Elliott Builds Stake in Invisalign-Maker Align Technology — Elliott Investment Management has accumulated a significant stake in Align Technology, maker of Invisalign teeth-straightening products. Bloomberg Markets

• HSBC Weighs Job Cuts From Multiyear AI-Fueled Overhaul — HSBC is considering substantial job reductions over coming years as CEO Georges Elhedery pursues AI-driven efficiency gains in middle and back office operations. Bloomberg Technology

• Philippine Peso Drops Past Key 60-Per-Dollar Level on Oil Risk — The Philippine peso breached the 60-per-dollar threshold as elevated oil prices threaten the country's economic outlook. Bloomberg Markets

• Asia Hit Hard By Oil Price Spike: Nomura's Wang — Oil prices surging past $100 amid Middle East conflict are creating specific economic headwinds for Asian economies through trade disruption and widened crude spreads. Bloomberg Markets