After weekend attacks, war-risk premiums for vessels transiting the Strait of Hormuz have risen to as much as 10% of ship value, the highest level in this round of conflict. On Monday an underwriter said rates were 8–10%; two other underwriters and one broker put rates at 10%, with one broker saying policies include no-claims discounts. Another broker reported rates around 7.5%. A second underwriter said shipowners are balking at paying such high transit premiums.

Magdalene Teo, Asia fixed-income analyst at Baosheng Group, says renewed US–Iran tensions make most Asian central banks likely to keep policy rates unchanged while retaining a hawkish bias. She cites persistent supply‑chain disruption and higher global energy prices as drivers of slower Asian growth this year, weighing on consumers and traditional sectors. Teo expects the central banks of Japan, South Korea, Indonesia and the Philippines to remain hawkish but says a sustained US data slowdown and a softer dollar could give Asian central banks limited scope to ease policy to support growth.

At the Hong Kong open on July 21, the Hang Seng Index (HSI) rose 7.49 points (+0.03%) to 25,150.54; the Hang Seng TECH Index gained 3.51 points (+0.07%) to 4,755.66; the China Enterprises Index (HSCEI) fell 0.71 points (-0.01%) to 8,381.19; the Red Chip Index slipped 4.19 points (-0.10%) to 4,069.11.