Southbound Stock Connect net bought 2.57 billion yuan today. Via Shanghai Stock Connect, Alibaba-W and Huahong Hongli were top net buys at HKD1.136bn and HKD338m; Meituan-W was the largest net seller at HKD1.065bn. Via Shenzhen Stock Connect, SMIC and Huahong Hongli were top net buys at HKD1.304bn and HKD845m; Meituan-W was the largest net seller at HKD162m.

Licaitong (Tencent) current+ 7-day annualized yield ranged 0.7360%–1.1370%. WeChat Wallet money-market product 7-day annualized yield ranged 0.9010%–1.0200%. Alipay Yu'e Bao 7-day annualized yield ranged 0.9010%–1.0150%.

U.S. sources on the 3rd, citing Iranian and U.S. officials, said Iran and Oman are close to an agreement on navigation through the Strait of Hormuz. Under the draft, vessels entering the Persian Gulf would use an Iran-controlled lane near Iran’s coast while outbound ships would use a lane near Oman, and multiple Iranian officials said transiting vessels would pay a "service fee" to be split between Iran and Oman. A U.S. official familiar with the talks said Iran’s description was inaccurate and that any temporary lane in the Strait would not require Iranian approval and would not impose charges on passing ships.