Morning coverage focused on Trump's retreat from Ukraine peace talks after Putin refused to compromise during their two-hour call, continuing the diplomatic pattern reported in previous days. Japan's Seven & i announced a partial sale of Seven Bank shares to Itochu, restructuring its financial operations amid ongoing corporate adjustments throughout Japan's economy.

By midday, Honda's decision to cut EV investments by 30% to 7 trillion yen represented another Japanese automotive pullback following Nissan's plant closure plans. The agriculture minister's rice comments from yesterday escalated into a full political crisis, with the prime minister deciding to dismiss him after opposition parties demanded his removal.

Afternoon reporting revealed "shockingly weak" ultra-long government bond auctions with 30-year and 40-year yields hitting record highs, as financial markets seemed increasingly concerned about Japan's fiscal position amid discussions of consumption tax cuts.