WS #10976

The dominant narrative from the prior window (US-Iran conflict, oil price spike, ceasefire collapse) has shifted to DE-ESCALATION. Multiple sources (BBC, Bloomberg, AP, GDELT) confirm the US and Iran have agreed to 'stand down' after an exchange of strikes, with vessels now able to transit the Strait of Hormuz freely. This de-escalation counters the prevailing bearish thesis on oil and geopolitical risk, likely driving crude prices lower and easing pressure on equities. Separately, South Korea's President Lee unveiled massive AI mega-projects, including plans for four new chip fabs with ~800 trillion won in investment, doubling DRAM production capacity in five years. This reinforces the semiconductor supercycle narrative, bullish for memory chipmakers. However, the prior window's chip stock surge (SK Hynix +310%, Samsung +183%) is carried forward as an ongoing high-significance positive, with no contradictory signals in this window. The US-Iran stand-down is the key new development, acting as a counter-signal to the oil crisis and geopolitical risk premium.