Iran's foreign ministry spokesman said an agreement had been reached on arrangements for a mechanism to ensure the safe passage of vessels through the Strait of Hormuz.

Qatar and Pakistan joint statement: the U.S. and Iran have made positive progress on establishing further technical negotiation mechanisms. Based on a memorandum of understanding, the parties agreed to establish a senior committee to provide political oversight of the mediation process.

CITIC Securities forecasts robust semiconductor-equipment demand driven by large downstream customers’ capex guidance and expansion plans. It projects the global wafer fab equipment (WFE) market will expand 26% YoY in 2026 to $147.8bn and 35% YoY in 2027 to $199.5bn, with memory’s share increasing. As capacity is brought online and new product cycles roll out, equipment makers’ pricing power may improve. The report advises monitoring equipment suppliers exposed to memory and capex-led spending.