The US government has paused plans to add Chinese AI firm DeepSeek, chipmaker CXMT and about 100 other companies to a trade blacklist, Reuters reported, a move intended to avoid escalating tensions with Beijing as diplomatic channels remain active.
China’s Lingyi Tech Guangdong has begun taking investor orders for a Hong Kong IPO that could raise up to $1 billion, signaling steady appetite for mainland tech listings despite geopolitical frictions.
Diplomacy advanced on the Iran front: Washington and Tehran are expected to sign a memorandum of understanding in Geneva on June 19 that aims to end the war within 60 days. Under the draft accord, the US would lift a blockade and Iran would take measures to reopen traffic through the Strait of Hormuz. The US and regional partners also plan a comprehensive rehabilitation package for Iran’s economy that could reach as much as $300 billion, while Tehran reiterated it will not pursue nuclear weapons. The fate of enriched material is to be addressed in a final agreement. The US Treasury would issue waivers to allow Iranian oil exports and begin phased releases of frozen assets as steps toward a full settlement.
ECB officials cautioned the memorandum alone will not resolve the energy shock, tempering market optimism over an immediate break in inflation pressures.
Corporate pain persisted in autos: BMW shares plunged about 11% after the German carmaker cut its profitability forecast, announced cost‑cutting measures and warned of weakening demand in China.
All eyes are also on the Federal Reserve, which meets today and will release its policy decision and updated Summary of Economic Projections, a potential market mover given recent inflation and growth volatility.
Markets were broadly constructive in early trade: European equities edged up about 0.5%, while Japan and mainland China rose roughly 0.7%. US futures looked set to open flat and Brent crude traded near $79 a barrel.