After US President Trump repeatedly claimed all Iranian naval vessels had been destroyed, Iran state broadcaster IRIB cited Navy commander Shahram Irani saying the navy "still exists and is in good condition" and "continues to carry out missions with resolute force and will, sparing no effort to defend Iran and safeguard national security."

CITIC Securities says post-2022 the A-share market has settled into persistent, structural rapid sector rotation; extreme rotation episodes typically last about 1–2 months and reflect insufficient breadth of earnings upgrades and a shortage of sustainable lead themes. Rising trade tensions and larger exchange-rate translation swings are constraining offshore/export earnings narratives and valuations, narrowing market breadth and reinforcing fast sector rotation. Recent AI progress strengthens an existing rapid rise in compute demand but is insufficient to change the long-term commercialization narrative; only further technical shifts (e.g., RSI, anti-distillation) could materially expand long-term valuation space. In high-rotation regimes, low-valuation strategies generally outperform; PB-ROE strategies show a clear edge and see returns rise with rotation speed, while momentum strategies are most impaired. Under rapid rotation, upside tends to be valuation repair in names with earnings support. Recommended mid-term allocation is a barbell of AI + energy/chemicals: expect AI concentration in Q2 and a gradual warming in energy/chemicals thereafter.

A Department of Homeland Security spokesperson said British right‑wing commentator Milo Yiannopoulos was deported to the UK on Friday after Immigration and Customs Enforcement detained him at a Louisiana airport on Thursday for an expired visa. Yiannopoulos, a former Breitbart contributor, publicly supported Donald Trump during the 2016 campaign.