Kremlin says Russian President Putin and US President Trump engaged in constructive dialogue despite some differences.

CNN, citing US officials, said the situation with Iran remains rapidly evolving and the US military may carry out further strikes on Iranian targets. Officials said recent strikes targeted missile and drone facilities capable of striking US military assets and sites that could threaten shipping through the Strait of Hormuz.

Morgan Stanley China equity chief strategist Wang Ying said in a note that late July through August could be a key window for a sustained rebound in Hong Kong and mainland Chinese equities. She noted recent outperformance versus major global peers has been partly driven by continued southbound Stock Connect inflows. Wang said Q2 results from e-commerce firms may show the profit hit from price wars has peaked, and further improvement in AI commercialization could underpin related names. She advised investors significantly underweight Hong Kong and mainland equities to consider using recent volatility to gradually add fundamentally stronger stocks.