Iran Ratchets Up Talk of Controlling Hormuz; Stocks Rally | Horizons Middle East & Africa 6/30/2026

Summary

The show covers conflicting US-Iran diplomacy over the Strait of Hormuz, a stock rally led by AI and tech, and key market themes including yen weakness and Dubai's resilient equities. Haig Bathgate argues for buying cheap AI incumbents Microsoft and TSMC, while Erica Tay highlights China's plan to drive growth via a 7 trillion RMB digital infrastructure push. Geopolitical risk in Hormuz is analyzed but no direct trade calls emerge from it.

• Iran and the US give conflicting accounts on Doha talks; Iran insists on controlling Hormuz shipping.
• Global equities head for best quarter in six years, led by AI-driven tech stocks in Asia.
• Microsoft set for worst month since 2000, but Bathgate sees it as a low-risk AI value play.
• TSMC trades at sub-10 PE and is primed for a bumper reporting season, per Bathgate.
• Japanese yen hits four-decade low of 162 vs. USD, with markets eyeing 164-165.
• Dubai stocks rebound 11% this quarter, showing broad-based resilience per Bloomberg reporter.
• China's PMIs beat expectations but growth remains two-speed; government's six-networks plan may become the next growth engine.
• South African police prepare for anti-migrant protests amid high unemployment and investment risk.