Hong Kong-listed auto stocks surged in early trading, with BYD (01211.HK) rising over 5%, Leapmotor (09863.HK) gaining nearly 3%, and BAIC Motor (01958.HK) and GAC Group (02238.HK) following suit.

US-Iran Talks 1. Pakistan expects the next round of US-Iran talks to be held after Khamenei's funeral. 2. Sources say the next round of US-Iran talks will be held on July 18. 3. The New York Times: US officials had worried about Israel assassinating Iranian negotiators. 4. According to Israel's i24News: Israeli security officials responded to the New York Times report by saying, "If Israel wants to eliminate anyone, it can do it." Strait of Hormuz 1. Major European countries now believe that toll collection in the Strait of Hormuz is inevitable. 2. The US warned Iran that changing the status quo in the Strait of Hormuz would be considered a violation of the agreement. 3. US Ambassador to the UN: Iran is attempting to collect illegal fees in the Strait of Hormuz. The Strait of Hormuz must be open to all countries. 4. Iranian Armed Forces: US interference in the Strait of Hormuz will be met with retaliation. Other Developments 1. After a months-long suspension, the US resumed sending dollars to Iraq. 2. Hamas requests an emergency meeting of the Arab League to address the Israeli regime's plans to expel residents from the Gaza Strip. 3. Reports indicate that Iran's Hatem Anbia Central Command warned the US and Israel against misjudging the situation. 4. The US Ambassador to the UN stated that President Trump's patience with Iran is running out. 5. The Israel Defense Forces (IDF) continue operations in the southern Lebanon security zone. 6. An explosion in Damascus, the Syrian capital, has killed four people. 7. Israeli Defense Minister Katz stated that an assessment today revealed the IDF has destroyed approximately 83% of Hamas's tunnel network within the IDF-controlled area of the Gaza Strip. 8. According to the Lebanese National News Agency, Israeli drones attacked the area near a hospital in the southern Lebanese town of Nabatiyah. 9. According to Iran's Tasnim News Agency, the Austrian Embassy in Tehran has resumed operations.

Bank of America lowered its 2027 GDP growth forecast for Brazil from 2% to 1.3%.