Updates

• The ASX opened higher despite geopolitical tensions and flaring hostilities between the US and Iran, which have caused oil prices to jump. • Market sentiment was bolstered by the Nasdaq debut of South Korea's SK Hynix, which saw shares rise 14% after raising approximately $US26.5 billion. • Investors are anticipating a strong second-quarter earnings season on Wall Street, with LSEG analysts forecasting a 24% surge in S&P 500 earnings driven largely by technology firms.

• The U.S. launched a fresh round of military strikes on Sunday, continuing a cycle of retaliatory attacks linked to disputes over the Strait of Hormuz. • In response, Iran has targeted Gulf states and claimed that the strategically vital Strait of Hormuz is now closed. • The escalation threatens global energy security and regional stability, particularly for nations like Qatar that have grown their GDP 24-fold through natural gas exports.

• The Indian government has scheduled an all-party meeting for July 19 to discuss key issues and agendas ahead of the Monsoon Parliament session. • The upcoming legislative session is officially set to commence on July 20. • In separate regional developments, officials highlighted that a new zoo in Deesa is expected to stimulate the local economy and create jobs in the Banaskantha district.

• The United States launched military strikes following an Iranian attack on a ship in the Strait of Hormuz and Iran's subsequent declaration that the waterway is closed. • Gulf nations have actively intercepted attacks as tensions escalate in the region, prompting urgent diplomatic discussions to ensure the safety and freedom of navigation. • This escalation threatens one of the world's most critical oil transit chokepoints, risking global economic instability and further military conflict.

• Iran has reportedly launched missiles toward Jordan, with Jordanian officials confirming they intercepted the incoming projectiles. • While Iranian media reports blasts, the US military has not yet confirmed any new attacks in the region. • The escalating tension threatens the stability of existing Iran-US agreements and increases the risk of a broader Middle East conflict.

• The U.S. launched new military strikes on Iran following President Donald Trump's statement that he may no longer be interested in negotiating a deal. • Analysts warn that these renewed geopolitical risks could trigger short-term "risk-off" sentiment among investors. • Despite the tension, experts believe strong equity earnings and AI growth will likely push the S&P 500 toward a year-end target range of 7,800 to 8,000.

• Iran has launched strikes against U.S. military infrastructure in the Middle East following a series of American attacks. • The U.S. military targeted Iranian assets to degrade their capacity to threaten freedom of navigation within the strategic Strait of Hormuz. • This escalation highlights a struggle for political leverage, as Iran seeks to maintain control over the strait to prevent traffic from shifting toward Oman.