Chinese Stocks Rally Despite Tariff Pressure

Chinese stocks extended their winning streak to four days, with the Shanghai Composite rising 0.5% and the Shenzhen Component up 0.8%.

The iShares China Large-Cap ETF (FXI) is up over 26% YTD, outpacing U.S. markets.

Gains driven by optimism over state-backed equity support and buybacks.

U.S. tariffs on Chinese goods now total 145%, but markets show resilience.

American billionaire Ray Dalio:

60% of the U.S. population has below a 6th grade reading level.

It’s tough to be productive.

Hamas releases a new video of the Israeli hostage, who holds American citizenship, "Idan Alexander"

Trump signed an executive order extending Biden's sanctions package against Russia for one year, according to a notice in the US Federal Register.

Chinese Army anti-drone training.

Iran-US talks in Oman were positive and constructive, Trump's envoy Witkoff says.

White House:

Trump has made it clear that China cannot be relied upon to manufacture semiconductors, chips, smartphones, and computers.

Syrian President Ahmed al-Sharaa and Foreign Minister Asaad Al-Shaibani in Antalya, Türkiye.

White House:

Special Envoy Witkoff underscored to Araghchi that he had instructions from President Trump to resolve our two nations’ differences through dialogue and diplomacy, if that is possible.

Ukrainian F-16 jet shot down today was either shot down by a Russian S-400 system or an R-37 air-to-air missile, BBC reports.

26 years old pilot Pavel Ivanov died died in the incident.

Pilot Pavel Ivanov was awarded the noscript of Hero of Ukraine by Zelensky posthumously.

Trump administration want to deport 1 million migrants per year, the Washington Post writes.

The highest number thus far was more than 400,000 a year when Barack Obama was president.

Trump:

Iran talks are going OK.

Future German Chancellor Merz:

Ukraine, in a state of war, cannot become a member of either the EU or NATO.

Trump on Russia-Ukraine negotiations:

There's a point at which you just have to either put up or shut up.

Israel destroyed yet another hospital in Gaza.

Belarus plans to employ about 150,000 Pakistani citizens to solve the problem of labor shortage in various sectors of the economy.

Somaliland intends to seek recognition from the United States in exchange for a port and airstrip lease, NYT reports.

Russian infantry on their way to the frontlines.

Russian forces attacked Ukrainian city of Sumy with missiles, several civilians dead.

More than 20 died as a result of Russian attack on Sumy, mayor announces.