Federal Reserve's Collins said some less optimistic scenarios remain, including a rise in inf and supply shocks stemming from AI build-out.

China A-share smart-driving concept stocks recovered after intraday swings; Zhejiang Shibao hit the daily trading limit, while Xingyuan Zhuomei, Zhongyou Technology, Yachuang Electronics, Wanji Technology and Fulongma advanced.

The U.S. Navy said it has cleared the Strait of Hormuz main Traffic Separation Scheme (TSS) between Iran and Oman, reopening two-way traffic and allowing more tankers to transit. U.S. underwater drones detected more than 100 suspected mines; U.S. forces and private contractors cleared or detonated them. Over the past 30 days more than 500 vessels transited the southern channel, with roughly 2% struck by Iranian drones or missiles. U.S. officials say ships can now transit under U.S. protection, increasing potential oil flows to global markets; Trump warned any vessel that re-mines will be immediately and systematically destroyed.