IRGC Navy warned all parties against using alternative routes to the Strait of Hormuz.

Dongwu Securities chief economist Lu Zhe said the logic supporting an A-share rally remains intact and the market is likely to stabilize further. Deeply corrected growth sectors could see repair. Some strategic funds have shown interest at recent lows, and large inflows into broad-based ETFs are supporting stabilization and suggest limited downside. With continued strategic fund support, the market could stage an upward rebound.

Houthi militants said in the early hours of the 23rd local time they attacked two Saudi oil tankers in the Red Sea, claiming the vessels violated the group's recently announced maritime embargo.