WS #10977

The dominant narrative from the prior window (US-Iran conflict, oil price spike) has shifted to DE-ESCALATION. Multiple sources (Bloomberg, pro-wire, Polymarket) confirm the US and Iran have agreed to halt attacks ahead of talks, with Strait of Hormuz traffic returning to normal. This counters the bearish oil thesis, likely driving crude prices lower and easing pressure on equities. Separately, South Korea's government announced massive AI investments (~550 trillion won for data centers, 81 trillion won for chip packaging cluster), reinforcing the semiconductor supercycle narrative. Apple's reported push to buy Chinese memory chips (CXMT) and Tim Cook's warning of price hikes due to AI-driven memory shortages add to the chip supply crunch theme. Baidu's AI chip unit Kunlunxin targeting a $50B Hong Kong IPO is a bullish signal for BIDU and the AI sector. However, a Bloomberg report on Hormuz traffic dropping off and Pakistan urgently seeking LNG suggests residual supply concerns, partially offsetting the de-escalation. The prior window's chip stock surge (SK Hynix, Samsung) is carried forward as an ongoing high-significance positive, with no contradictory signals in this window.