China's potential involvement in the US-Israel-Iran war is raising global security stakes, particularly ahead of the Trump summit. US intelligence suggests China may be supplying Iran with advanced radar systems and considering sending air defense systems, fueling concerns about a widening conflict. China's space capabilities are also a key factor, eclipsing Russia as a major competitor.
Unconfirmed reports of Chinese cargo planes landing in Iran are raising tensions at the Strait of Hormuz, potentially disrupting shipping normalization. This situation complicates US-China relations amid the Israel-Iran conflict, and traders are awaiting verification before making decisions. Market movements will likely depend on official announcements.
French President Macron and UK leader Starmer will co-chair a summit to secure the Strait of Hormuz. This move represents a multilateral diplomatic effort amid the ongoing US-Israel-Iran conflict. While the summit could increase the probability of UK naval deployment, traders remain unconvinced without concrete commitments.