Iran's UN ambassador in Geneva said main negotiations over the Strait of Hormuz will take place between Iran and Oman, followed by parallel discussions with parties to the memorandum of understanding.

Tuesday South Korean equities plunged as profit-taking in chip leaders accelerated. Samsung Electronics and SK Hynix fell more than 5%. KOSDAQ and KOSPI triggered circuit breakers, suspending automated trading for five minutes. Foreign investors were net sellers of over 2 trillion won of KOSPI stocks in the morning session (about $1.3bn), while retail investors bought the dip. Huh Seok-geun, CIO at Eugene Asset Management in Seoul, said the sell-off appears driven mainly by profit-taking after recent sharp gains and that high retail leverage and elevated margin balances could amplify declines and increase sensitivity to negative catalysts.

MOFCOM said at a June 23 briefing that as of June 22 consumer trade-in programmes have generated 5 trillion yuan in cumulative related goods sales and benefited about 630 million participants. Automotive trade-ins accounted for 63% of sales; MOFCOM said the schemes have supported consumption and aided industry renewal and product circulation.