英國央行委員泰勒：就通脹向工資的傳導而言，我的基本判斷是，當前情況更接近2011年的狀況，而非2022年。

Traffic through the Strait of Hormuz has picked up as tensions ease, with more ships openly signalling intent to transit. AIS data on Tuesday morning confirmed seven vessels entering the strait: two fully laden non‑Iranian VLCCs outbound from the Persian Gulf, three bulk carriers underway, and two Iran‑flagged Suezmax tankers approaching from the opposite side. Kpler senior crude analyst Muyu Xu said the move reflects increased owner confidence "as the market expects Iran will not resume attacks on ships," but she cautioned it remains unclear whether safe, unrestricted passage has been fully restored.

Chinese A-share indices fell in the morning session; by midday the Shanghai Composite was down 0.37%, the Shenzhen Composite down 1.83% and the ChiNext Index down 2.27%. Innovative drug stocks bucked the market, with Xinhua Pharmaceutical and several peers hitting the daily limit. Securities continued to rally, led by Changjiang Securities which also hit the daily limit. Sector winners included livestock, banks, daily-use chemicals and real estate; laggards were crude palm oil (CPO)-related names, nonferrous metals, electrical equipment and construction machinery. Morning turnover exceeded CNY2.3 trillion.