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The LeadEleven weeks after the start of the Iran war, the Strait of Hormuz has remained closed to naval traffic, bleeding the global economy far beyond the Gulf. Iran's Islamic Revolutionary Guard Corps (IRGC) maintains an iron grip over this narrow, strategic waterway, while a corresponding United States naval blockade on Iranian ports has failed to reopen it.Before the war began, between 120 and 140 ships travelled through the strait each day, about half of them oil tankers carrying some 20 million barrels of oil between them. Now, only a few vessels whose owners have negotiated with the IRGC are permitted to pass.The Strategic Control of HormuzOn Wednesday, Iran said it coordinated the transit of 26 vessels through the Strait of Hormuz in 24 hours, two days after announcing the formation of the Persian Gulf Strait Authority (PGSA), a new body to provide "real-time updates" on operations in the strait.Since the announcement of a temporary ceasefire between the US and Iran in April, Iran has been working on formalising a mechanism to charge a transit fee from ships crossing the critical chokepoint, through which 20 percent of the world's oil and liquefied natural gas (LNG) are shipped during peacetime.Tehran has reportedly already charged fees as high as $2m per ship for transit since the war started. Even though countries opposing Tehran say this is illegal, it may still be less expensive than the overall cost of the closure of the strait each day.The Economic Cost of BlockadeNearly one-fifth of global oil and LNG exports were shipped by Gulf producers through the Strait of Hormuz before the US and Israel bombed Iran on February 28, triggering the Iranian closure of the waterway. The strait is the only waterway linking Gulf producers to the open ocean – there is no other route through which they can ship exports.About 20.3 million barrels per day of oil passed through the Strait of Hormuz in peacetime – nearly 27 percent of global maritime oil trade. The lion's share of that crude went to Asian markets.Global LNG trade has been similarly hard hit. On the day before the war broke out, Brent crude – the global benchmark for oil prices – closed at $72.48 per barrel. After Iran closed the waterway on March 4 and began attacks on vessels attempting to sail through, traffic came to a standstill, stranding about 2,000 ships on either side of the strait.In terms of lost oil revenues, this amounts to $114.8bn of losses per day. About 10 billion cubic feet of LNG per day also used to pass through the strait, worth a further $7.8bn.The Cost-Benefit Analysis of Transit FeesFor hundreds of ships stranded in the Gulf with thousands of sailors on board, the cost of remaining anchored is steep, including crew wages, loan repayments, repair and management, coupled with inflated war risk premiums.In turn, Iran has reportedly been charging up to $2m for authorisation to pass. Experts say many will see this as worthwhile purely in terms of monetary cost."There is no doubt that paying Iran is cheaper than a continuous blockade because a sitting tanker bleeds money," said Nader Habibi, an Iranian American economist."It makes sense from an economic point of view, but it is not politically feasible," he added. "The companies are under pressure from the US sanctions and not to make arrangements with Iran. This is not just a purely economic cost-benefit analysis, but long-term considerations that are taken into account."International Legal PerspectivesInternational law protects free transit through strategic waters such as natural straits like Hormuz, barring countries from imposing passage tolls even where the waterways fall entirely into territorial waters, like in the case of Hormuz.However, services such as security controls, inspections and insurance regimes can be charged for. Chargeable fees also partly depend on whether a waterway is a man-made passageway or a natural one.These are three different precedents in maritime traffic flow:Panama Canal: An artificial waterway connecting the Atlantic and Pacific oceans. Vessels pass through a unique system of locks that raise and lower vessels across elevated terrain. Since Panama built, maintains and operates the canal, it can charge transit fees based on vessel size, cargo capacity and booking priority. These range from several hundred thousand dollars per transit to some slots sold for millions of dollars.Suez Canal: Another artificial canal, linking the Mediterranean and Red seas. Egypt charges transit fees for the use of canal infrastructure, maintenance and traffic management services through the narrow waterway. Container ships and oil tankers pay from several hundred thousand dollars to more than one million dollars per voyage.Turkiye's Bosporus Strait and Dardanelles: These are different because they are natural straits, rather than man-made canals. Turkiye charges for navigation-related services such as lighthouse operations, rescue readiness, medical support and traffic management – and tightly controls ship scheduling and navigation.Regional Cooperation PossibilitiesIran's newly-formed PGSA published a new map of Hormuz, stretching from Kuh-e Mubarak in Iran to south of Fujairah, in the UAE, at the eastern entrance of the strait, and from the tip of Qeshm Island to Umm al-Quwain at the western entrance.Given how the Iran war has spilled over into the Gulf region – with the UAE taking the brunt of Iranian strikes – economist Mohammad Reza Farzanegan said "regional cooperation with Iran is the most realistic path to stable transit through the Strait of Hormuz."The UAE, Oman, Qatar and Iran will have to work together because their economies require it, he argued. A workable arrangement could include a joint maritime authority, shared monitoring, emergency coordination, environmental protection and service-based contributions for maintaining safe passage."This would give Iran a recognised role in the security of the waterway while giving Persian Gulf economies more predictability," Farzanegan added. "Such a framework is also more realistic than relying on external military enforcement, which has been more a source of trouble for these states."The Future OutlookWhile it may seem that the economics of the closure of the strait are currently skewed towards Iran, Aniseh Tabrizi, an associate fellow on the Middle East and North Africa Programme at think tank Chatham House, noted that "the economics by itself is not going to be the driver to change calculation or move from the current standpoint."She emphasized that Iran and the US need to reach a "diplomatic compromise, with other calculations linked in to the economic factor", before there can be an end to the energy supply crisis.Farzanegan added that if the world expects stable access to the Strait of Hormuz, then paying Iran could well be accepted as the price of keeping the vital waterway predictable. "From an economic perspective, a negotiated transit arrangement [with Iran] now makes more sense than continued closure," he concluded.

The Bond Market Obsession in British PoliticsA spectre is haunting British politics: the bond markets. Recent political discourse has been dominated by fears of "bond vigilantes" punishing fiscal policies they deem irresponsible, as evidenced by Chancellor Rachel Reeves' warnings following local election results. This obsession has created a situation where democratic mandates for change are being vetoed by investors, leading to what economist Thandika Mkandawire termed "choiceless democracies."The Bank of England's Role in Rising Borrowing CostsThe Bank of England has become a significant factor in Britain's high borrowing costs, often overlooked in political debates. Since 2022, the Bank has sold £134bn in gilts, with its share of UK gilt holdings nearly halved in three years. This year alone, it sold £7.6bn in gilts, with another £12bn planned. Investors calculate that active quantitative tightening has added up to 0.7 percentage points to UK borrowing costs—what might be called the "Bailey premium," recognizing the role of Bank Governor Andrew Bailey in the gilt market.The Financial Impact of Inflation-Linked BondsBritain's unique vulnerability to inflation-linked gilts, or "linkers," has created a significant budgetary challenge. With about a quarter of its bonds inflation-pegged—more than twice as many as Italy or France—the British government has had to pay a staggering £153bn in additional debt service since the 2022 Russia price shocks. This creates an ironic situation: when the Bank misses inflation targets, the government pays bond investors compensation, further straining public finances.Pension Funds and the Future of UK DebtThe UK's pension system, particularly defined contribution schemes where workers bear investment risks, is reshaping the government bond market. These funds prefer high-yielding investments like stocks and private equity rather than government bonds. The Office for Budget Responsibility estimates that pension funds will halve their gilt holdings over the next decade, eventually resulting in an increase in annual debt interest costs of about £22bn. This represents a political choice that could be reversed through policy interventions.Toward a Democratic Model of Central BankingIf the UK wants transformative change, it needs a new model of central banking that serves the common good rather than being influenced by bond markets. This includes reevaluating the Bank of England's role, phasing out inflation-linked bonds, and redirecting pension fund investments toward public essentials. The recent Pension Schemes Act 2026 provides an opportunity to channel workers' capital into public ownership of essential services such as housing, water, and transport. These are hard political choices, but they exist for those willing to challenge the status quo of managed British decline.

The Lead: Ben-Gvir's Provocative VideoIsraeli Minister Itamar Ben-Gvir has published a video taunting detained flotilla activists, marking a significant escalation in tensions surrounding the maritime operation. The video, which has gone viral on social media platforms, shows Ben-Gvir making provocative gestures and statements toward the activists who were detained during an Israeli naval operation.The Event Details: Flotilla Confrontation and AftermathThe incident stems from a flotilla that attempted to breach Israeli naval blockades in the region. Israeli authorities detained the activists, citing security concerns. Ben-Gvir's video appears to be filmed at the detention facility, where he is seen addressing the detainees with what critics describe as humiliating and degrading language. The minister has defended the video as a necessary response to what he calls "provocative actions" by the flotilla participants.The Data Analysis: Social Media Impact and Public ReactionThe video has garnered significant attention across social media platforms, with millions of views within hours of publication. Public reaction in Israel has been divided, with supporters of Ben-Gvir praising his stance against what they perceive as hostile provocations, while critics condemn the video as inappropriate and damaging to Israel's international image. The incident has also trended globally, with hashtags related to the controversy gaining traction.The Impact Analysis: Diplomatic RamificationsThis incident has significant diplomatic implications for Israel. The video has drawn condemnation from several international organizations and foreign governments, potentially straining already fragile diplomatic relations. Human rights groups have called for investigations into the treatment of the detainees, while some neighboring countries have used the incident to criticize Israeli policies. The timing of the release, amid ongoing peace negotiations, adds another layer of complexity to the region's already tense political landscape.The Prediction: Future Consequences and Political FalloutLooking ahead, this incident is likely to have lasting consequences for both domestic Israeli politics and international relations. Ben-Gvir's actions may strengthen his political base but could further isolate Israel on the global stage. The detained activists may pursue legal action, and the video could become evidence in potential human rights cases. Additionally, this incident may embolden other right-wing figures to take similar provocative stances, potentially leading to a more confrontational approach in Israeli foreign policy.

The LeadLast week came the news that Gen Z are big fans of going to the cinema. Now here's a Gen Z romcom from Working Title, the company behind Bridget Jones's Diary and Notting Hill. Directed by Alicia MacDonald from a script by Rachel Hirons, Finding Emily shares DNA with Richard Curtis's comedies – the same warm heart and charm, plus levels of cheesiness that some may find cringe. In the end, I found it impossible to hate, though one or two performances felt a bit lacking in comic flair.The Campus Romance UnfoldsIt's set in Manchester, where indie singer-songwriter Owen (Spike Fearn) meets undergraduate Emily (Sadie Soverall) at the student union. They click, but when Emily taps her number into his phone, she misses out a digit. Is it a drunken error, or has she wrong-numbered him? Owen is convinced it's a mistake and sticks up posters around campus to find her. After a tipoff, he waits outside a lecture hall for psychology student Emily (Angourie Rice). She's American, and not his Emily, but she offers to help, suggesting Owen emails every Emily enrolled at the university – all 318 of them. Owen accidentally sends the email to all rather than BCCing, creating an email group of Emilies who are divided in their reactions. Is he some kind of creepy virgin "incel"? Or a diehard romantic? Owen becomes a meme: "email guy".Social Media SatireSome of the funniest scenes are the reactions on social media after Owen appears on a college YouTube channel with a guitar playing a song he wrote for Emily. "It's like Ed Sheeran on Crimewatch," someone writes. Another coins the hashtag #ratboysummer. This is a very gentle, light-touch send-up of campus culture wars and social media pile-ons. In fact, psychology student Emily has an ulterior motive for helping Owen: she wants to use him as a case study for her thesis that being in love is temporary insanity. "He is just data," she says, protesting too much.Supporting Characters and PerformancesBut, like in Curtis's films, the supporting characters are the most fun. Prasanna Puwanarajah is very funny as Emily's professor, a celebrity psychologist with a rampant ego. Distractingly, Owen is the spitting image of the young Liam Gallagher and at certain angles, Rice's Emily is a dead ringer for Taylor Swift. In a couple of scenes of them together, the effect is plain weird.Release TimelineFinding Emily is out on 21 May in Australia, on 22 May in the UK and on 28 August in the US. The film's release strategy appears to be targeting international markets sequentially, with the UK release following closely after Australia but before the US market.

The LeadChinese and Iranian companies are increasingly establishing economic footholds in Russian-occupied Ukrainian regions, particularly in Donetsk and Luhansk, despite international sanctions and Ukraine's territorial integrity concerns. This growing economic integration, described by analysts as "shadow integration," involves Chinese firms supplying construction equipment and telecommunications infrastructure while Iran integrates the occupied territories into its logistical chains.Chinese Companies Establish Economic PresenceIn November 2023, representatives of two Chinese companies signed a deal to supply stone-crushing machinery for construction projects in what they called the "People's Republic of Donetsk," a Russia-backed separatist statelet in southeastern Ukraine. The companies, identified as Zhongxin Heavy Industrial Machinery and Amma Construction Machinery, supplied equipment to the Karansky quarry in the southern Donetsk region, with the crushed stone being used for construction projects in Russia-occupied areas.According to the Eastern Human Rights Group (EHRG), a Ukraine-based think tank, at least 17 Chinese companies operate in the occupied areas, with almost 6,000 Chinese-made relay stations for cellphone connections installed there. Chinese firms are involved in mining, construction, telecommunications equipment supply, and financial services."As Russia integrates its power in the occupied areas and transfers politicians to occupation administrations, Chinese companies carry out another replacement, but in the economy," said Maksym Butchenko from the EHRG.The Economic Transformation of Occupied RegionsThe occupied regions' economy has undergone significant changes since 2014. Out of 94 coal mines that operated in Donetsk and Luhansk (collectively known as the Donbas) before the conflict, only five remain open. The remaining mines "completely reoriented towards working with China and Russia," according to Butchenko.Furthermore, the occupied regions' economy is "totally yuanised" as local businesses use Chinese electronic payment systems through Telegram channels that offer currency exchange and transfers. The yuan is now sold in 79 banks in the occupied areas, creating a financial ecosystem increasingly dependent on China."This is a threatening precedent from the viewpoint of international politics and law because this violates international agreements," Butchenko stated, calling China's approach "shadow integration."Iran's Strategic Economic PartnershipsMoscow reportedly encourages the occupied regions to develop ties with Iran, creating another layer of economic integration beyond China. Tehran buys grain and coal from the occupied territories and "integrates the economy of occupied Donbas into its own logistical chains created after decades of isolation," according to the EHRG.Donskiye Ugli, a Russian coal mining company operating "nationalized" mines in Donetsk and Luhansk, ships the fossil fuel to Iran, according to separatist official Andrey Chertkov. Additionally, local food producers in the occupied territories have begun supplying casein, a milk protein, to Iran."The Kremlin not only gives permission to Iranian companies to enter the occupied areas' market but also encourages them," Butchenko explained, highlighting Russia's active role in facilitating these economic partnerships.International Response and Future ImplicationsBeijing maintains its official position of supporting Ukraine's territorial integrity while calling the Russia-Ukraine war a "crisis." However, unofficially, Chinese companies have "almost captured the entire market in the occupied areas," according to Butchenko.Kyiv has sanctioned Chinese companies operating in the occupied regions, including Alibaba and the China National Petroleum Corporation, and urges Western nations to follow suit. Despite these sanctions, Chinese companies continue to operate, often offering lower prices and technical expertise that is difficult to replace."China is here for good," a business owner in Donetsk told Al Jazeera. "All new equipment here is Chinese from machine tools to ventilators." This growing economic presence, combined with Iran's increasing involvement, suggests that the economic integration of these occupied territories with China and Iran will continue to deepen, potentially creating long-term challenges for Ukraine's territorial integrity and for international efforts to isolate Russia economically.

Hull KR's Golden Era and Championship MentalityHull Kingston Rovers are experiencing a remarkable period in their history, transitioning from a club that won nothing for a generation to treble winners and world club champions. After a slow start in Super League, the team is climbing up the table and could go second if they beat Wigan at Craven Park on Thursday night. The teams meet again in the Challenge Cup final at Wembley next Saturday, with Rovers seemingly peaking at the right time."We're aware that teams definitely have windows of opportunity," says Rovers captain Elliot Minchella. "That comes with continuity as well. Look at the spine of our team: we've played together for a long time and, with those connections, sometimes you don't have to say anything, you just know what they're going to do. That comes through playing 150 games together. Those days don't last for ever. In five years' time, some might still be at the club, some will be in different places around the world. So we need to take advantage of it now."The Wigan Double Header and Championship DefenseThe Robins are preparing for two crucial games against Wigan, with the first at Craven Park on Thursday night and the second being the Challenge Cup final at Wembley next Saturday. This comes after a tough win at Leigh, demonstrating the team's ability to perform under pressure. Despite coach Willie Peters revealing that players already knew when he intended to give them rest, the team has chosen to field a strong side against Wigan at Craven Park, even as Wigan sends their reserves."You've got to practise with different players, because anything could happen," says Minchella. "Obviously, there's not another Mikey Lewis around the corner, so if someone has to come in to do that job, they might have a different skill set. But we've got a framework and someone comes in and out of the framework. No matter who's in those positions, it should look the same."Building a Dynasty: The Hull KR ModelAfter winning nothing for a generation, Hull KR have been battling intensely with Wigan for the last few years, with the two teams winning or finishing as runners-up 13 times in the last nine domestic competitions. The question now is how to build a dynasty rather than being a one-season wonder."It probably starts with the very top from the owners then filters down," explains Minchella. "In years gone by, there would have been a big celebration about getting to Wembley. Well, you don't win anything for getting there. You win at Wembley. That's the mentality shift. Willie's as driven as anyone. He's moving on at the end of the year, but nothing's changed. If anything, he's dialled in even more. It's such a high when you win and affects so many people. It becomes infectious, addictive. The message is: chase that feeling again."The Changing Landscape of Rugby League's Power StructureHull KR's emergence represents a significant shift in rugby league's power dynamics. The club's transformation from perennial underachievers to champions challenges the traditional hierarchy of the sport. Their success has created a new narrative in Super League, proving that sustained excellence can be built outside of the traditional powerhouse clubs."Everybody wanted us to win for a period, but now everybody wants to stop us," Minchella acknowledges. "Everyone wants to see the champions lose. You've got to embrace that because it's not going to go away." This new status as champions has changed how opponents approach games against Hull KR, with teams now specifically targeting their key players and strategies.The Future of Hull KR Beyond Willie PetersWith coach Willie Peters set to leave in October to take over the new NRL franchise PNG Chiefs, Hull KR faces a transition period while maintaining their championship-winning core. Most of the club's important players will stay, but the team must adapt to life without their long-term leader who has guided them through their most successful period."We've spoken about not wanting to be one-season wonders," Minchella states. "It was unbelievable to do what we did last year, but it's in the past. People have left, new people have come in, and we want to do it again as a new group." The team's ability to maintain their winning culture through this transition will be crucial to their long-term success and their attempt to establish a lasting dynasty in rugby league.

The Symbolic SummitThe hopes and dreams of Palestinian children from Gaza have reached the top of the world as a kite bearing their handwritten messages was carried to the summit of Mount Everest by a team of mountaineers. The group summited the world's highest peak at 10:48am local time (05:03 GMT) on Thursday, Jordanian Palestinian mountaineer Mostafa Salameh, who was spearheading the expedition but did not summit, confirmed in a social media post.The Humanitarian MissionA team of Nepali Sherpas – led by Italian filmmaker and explorer Leonardo Avezzano – carried the kite to ensure that the dreams of children in the besieged Strip could make it "to the top of the world", Salameh told Al Jazeera from the Everest base camp last week. The 56-year-old climber launched this expedition to raise $10m towards medical aid for children in the Strip and draw global attention towards the difficulties they have faced during the Israeli genocide in Gaza.A Personal Connection to Palestine"After months of preparation, sacrifice, training, fear, hope, prayers, and carrying the weight of a message much bigger than themselves… the kite carrying the dreams of the children of Gaza is now flying above the highest point on Earth," Salameh said in a video posted to Instagram. "From the rubble and pain of Gaza … to the roof of the world. A dream refused to die," he wrote in the caption.The Climbers' JourneySalameh, who has previously summited Everest, stayed at the first base camp due to frostbite and a blood clot in his left hand. "Tonight, at 8,848 metres (29,029 feet) in the death zone where every step feels like a battle between life and exhaustion, Leonardo carried that kite with courage, heart, and purpose," Salameh added. "I am so proud of my brother Leonardo for believing in this mission and for carrying the voices, names, hopes, and dreams of children who deserve to be seen by the world."The Explorer's LegacySalameh is one of 20 people to have completed the Explorer's Slam – the accomplishment of reaching the North and South poles and climbing the highest peaks on all seven continents. He has summited Everest four times, the first being in 2008, the year he was honoured with knighthood by King Abdullah II of Jordan. "What I do best is climb mountains," he told Al Jazeera in an interview last week from the base camp. "I did promise lots of people in my life not to go back to Everest, but this is worth it. As a mountaineer, what I can do is bring the story and suffering of every Palestinian child all the way to the top of the world."From Darkness to LightSalameh acknowledged the immense risks – including death – that come with scaling Mount Everest at 8,000 metres with only 15 percent oxygen, but insisted it was "absolutely nothing" compared with what the Palestinians in Gaza have endured. "This time is very personal for me," Salameh said in another video. "This one hits home for the child in me, because I know what it feels like to be a child at a refugee camp, and I feel for the children of Gaza and what they go through."The Path ForwardSalameh said the "mission [was] not accomplished yet" since summiting Everest was only the halfway point; returning to base camp safely was the next goal for Leonardo and his team. "Tonight, the kite flies above Everest; tonight, the dreams of Gaza touched the sky," Salameh said, ending the video with a chant of "Free, Free Palestine". He emphasised that the summit was not only about climbing a mountain but about humanity, hope, and proving that "even from darkness, something beautiful can still rise into the sky."

The Historic Triumph in IstanbulAston Villa ended their 30-year trophy drought in style as spectacular goals from Youri Tielemans and Emiliano Buendia inspired a 3-0 win against Freiburg in the Europa League final in Istanbul. Unai Emery's side took the lead late in the first half through Tielemans' thunderous volley, before Buendia increased Villa's advantage with a sublime curler seconds from the half-time whistle. Morgan Rogers' second-half goal finished off the outclassed Germans, sealing Villa's first silverware since the 1996 League Cup and their first major European prize for 44 years.Emery's European MasterclassVilla's long-awaited continental conquest was the latest Europa League masterclass for Emery, who has now won the tournament five times after victories with Sevilla in 2014, 2015 and 2016, and Villarreal in 2021. Emery said this week that he did not feel like the "king" of the Europa League, but his team's coronation received the royal seal of approval from Villa fan Prince William, who was celebrating with about 20,000 ecstatic supporters at Besiktas Stadium. Hollywood actor Tom Hanks, another famous Villa fan, joined the party, sending a good luck message to the team before kickoff.Club Renaissance Under EmeryThe Europa League triumph underlined Villa's impressive renaissance since Emery took charge in October 2022, with the club languishing just three points above the relegation zone. Emery called on his players and the club's hierarchy to match his desire to keep Villa in contention for silverware. "I am myself ambitious and of course I need support. The owners, everyone that works in the club. Development is everything," he said. "The players are following us. We are doing it together. But we must try to set this ambition, being clear and realistic. As a team, ambitious and improving. This is our next step."From Relegation Contenders to European ChampionsIt has been a memorable finish to the campaign for Villa, who sealed qualification for next season's Champions League with a win against Liverpool last week. Villa's success over the last six days would have been impossible to imagine when they started the season with a run of six matches without a win, scoring just twice in that dismal streak. Their maiden win this season came in the Europa League against Bologna, the first of 13 victories in 15 games in the competition that culminated in their ruthless demolition of first-time European finalists Freiburg.A New Era for Villa FootballDespite losing in the UEFA Conference League semifinals in 2024, and the Champions League quarterfinals and FA Cup semifinals last year, Emery was convinced Villa would eventually cast off their "nearly men" tag. The 54-year-old Spaniard's unshakeable faith has been rewarded. "We are getting stronger, but we are trying to be demanding. Next year we will play in the Champions League, and the Premier League is the most difficult in the world. This is the challenge," Emery stated. "It's fantastic. Europe gave us a lot. For myself as well. I'm always very grateful for Europe. For every competition but especially the Europa League."

Nvidia delivered another record quarter, beating Wall Street expectations and igniting fresh optimism for AI‑driven growth across Asian markets. Record Nvidia Quarter Fueled by AI Chip Demand The chip designer reported an 85% year‑on‑year revenue increase to $81.6bn for the three months ended April, marking its 15th straight quarter of topping forecasts. CEO Jensen Huang highlighted physical AI and robotics as the next growth frontier. Revenue Surge and Forecast Numbers Highlight Growth Revenue: $81.6bn (+85% YoY) Guidance: $91bn for the current quarter (vs. average market expectation of $86bn) Share reaction: down 1% in after‑hours trading Ripple Effect on Asian Equity Markets and Tech Giants The earnings beat lifted sentiment in Asia: the South Korean Kospi jumped 9%, while Taiwan’s index rose 3.3%, ending a four‑day decline. Shares of LG Electronics and Hyundai Mobis surged more than 20% after Huang’s remarks. Outlook: Sustainability of Nvidia’s Growth and Market Sentiment Analysts caution that maintaining such explosive growth will be challenging, especially as the company faces heightened expectations and competitive pressure. The market will watch whether Nvidia can translate its AI leadership into consistent earnings or if the current rally is a short‑term boost. Key Economic Calendar for the Day 9:00 BST – Eurozone flash PMI 9:30 BST – UK flash PMI 11:30 BST – UK Chancellor Rachel Reeves on cost‑of‑living measures 13:30 BST – US jobless claims 15:00 BST – Eurozone consumer confidence 16:00 BST – BoE Governor Andrew Bailey speech in Sheffield