Oman's foreign minister said complex talks are under way to craft a long-term arrangement to guarantee freedom of navigation through the Strait of Hormuz.

China's Shanghai Composite Index closed up 53.33 points, or 1.36 pct, at 3,967.13 on Tuesday, July 14; Shenzhen Composite Index closed up 402.01 points, or 2.77 pct, at 14,924.87; CSI 300 Index closed up 101.12 points, or 2.15 pct, at 4,796.50; ChiNext Index closed up 127.62 points, or 3.43 pct, at 3,851.14; China STAR 50 Index closed up 15.41 points, or 0.77 pct, at 2,009.73.

Morgan Stanley cut Baidu (09888.HK) target price to $130 from $140 and maintained an "in line with market" rating. MS expects Baidu 2Q26 core revenue to decline 4% YoY to RMB25.3bn; AI cloud infrastructure revenue is forecast to rise 56% YoY to RMB7.6bn, partly offsetting an 18.5% drop in advertising revenue. The bank trimmed 2026–27 core revenue forecasts by ~3% and lowered operating profit estimates by 11–12%, citing higher AI investment.