The morning was dominated by reports of India's strikes against Pakistan following tourist killings in Kashmir, with Pakistan quickly retaliating and claiming to have downed five Indian aircraft. The UN expressed "serious concern" as both nuclear-armed nations appeared locked in escalating conflict, with Pakistan asserting its "right to avenge" civilian casualties.

In corporate Japan, Shionogi's acquisition of Japan Tobacco's pharmaceutical units for approximately $1.1 billion marked significant industry consolidation as JT exits the drug business due to high research costs. A Tokyo court rejected Nidec's request to block Makino Milling Machine's defensive measures against a hostile takeover attempt.

Economic reporting highlighted record share buybacks by Japanese corporations totaling nearly 4 trillion yen supporting the stock market rebound. Concerns emerged about US-Japan stock markets recovering too quickly despite ongoing trade tensions, potentially causing the Federal Reserve to delay interest rate cuts.