JP MORGAN CUTS DUOLINGO TARGET PRICE TO $92 FROM $95

Commercial traffic through the Strait of Hormuz has nearly halted after a brief reopening collapsed when the U.S. seized an Iranian vessel near Jask, the first such action during the blockade. Transits have dwindled over seven weeks of war as Iran tightened control. The incident heightened risks for shipowners and pushed oil prices higher amid fears of a prolonged supply crisis. Analysts said volatility will likely keep operators in a cautious wait-and-see mode.

AT CLOSE, SHANGHAI COMPOSITE INDEX ROSE 0.76%, SHENZHEN COMPONENT INDEX GAINED 0.55%, CHINEXT INDEX FELL 0.02%