Iran's foreign ministry reiterated it will firmly defend national sovereignty and territorial integrity and punish any aggressor, saying Tehran will not allow US trade defaults, bullying or other hostile conduct to affect Iran's national interests.

Morgan Stanley cut its PT on Alibaba (BABA.N) to $180 from $190, a 5% reduction, and reiterated an overweight rating and top-pick view. After a recent share pullback the firm says the stock now trades at an attractive valuation, roughly 13x FY2028 PE; its latest DCF-derived target equates to about 23x FY2028 PE. Morgan Stanley raised revenue forecasts for FY27–28 by 2–3% on a larger cloud contribution, partly offset by weaker e-commerce revenue; EBITA forecasts are largely unchanged. The bank expects Alibaba’s cloud revenue growth to accelerate to 45% YoY in the quarter to June (FY27) and to continue accelerating in subsequent quarters. Excluding some one-off Spring Festival promotional costs, Morgan Stanley sees ‘other losses’ narrowing to RMB16.5 bln in FY27 Q1, but warns rising token prices will keep model-training costs for the Qianwen model sizable and projects FY27 total ‘other losses’ of about RMB72 bln.

Market sources: Central Bank of Chile purchased USD 25 mln.