U.S. President Trump said no agreement has been reached on the Strait of Hormuz.

China's warehousing index rose to 50.3% in July, up 0.1 percentage point MoM and marking a second consecutive month above the 50 expansion threshold, the China Federation of Logistics & Purchasing said; the body said the sector remained in expansion despite seasonal and extreme weather disruptions.

With the iPhone 18 series and foldable iPhone Ultra launch weeks away, TSMC's N2 process is producing A20 Pro wafers with strong yields and ample capacity, but a severe mobile DRAM shortage is preventing completed wafers from being packaged, creating inventory buildup and pressuring Apple and its supply-chain stocking. Apple and its assemblers are urgently seeking additional mobile DRAM; Apple currently relies mainly on Micron and also purchases from SK Hynix and Samsung. TSMC's N2 is not the shipping bottleneck—A20 Pro production is effectively ready, Tim Culpan said.