U.S. Vice President Vance said the U.S. maintained continuous contact with Israel yesterday.

Qatar and Pakistan, acting as mediators, said the first round of a high-level committee meeting under the Islamabad memorandum concluded at Bürgenstock, Switzerland. US and Iranian representatives attended alongside Qatari and Pakistani mediators. The talks were described as positive and constructive and made encouraging progress, including creation of a mechanism to carry out further technical negotiations. Under the memorandum, parties agreed to form a high-level committee to provide political oversight of the mediation; chief negotiators will report regularly to the committee and lead on nuclear issues, sanctions relief, and coordination with a monitoring and dispute-resolution group to ensure implementation. The committee agreed a roadmap targeting a final agreement within 60 days and to immediately begin further technical talks.

China Index Academy data: June 1–20 resale transactions across 20 major Chinese cities totaled 88,000 units, up 10.9% YoY. Shanghai and Suzhou resale volumes rose over 20% YoY; Shenzhen and Ningbo rose over 10%, signaling sustained demand. Core-city new-home markets continue to recover. During the three-day Dragon Boat holiday Shanghai new-home net contract signings totaled 601 units vs 293 a year earlier (+308); Shanghai resale net signings were 1,231 vs 1,035 last year (+196, +18.9%). As of June 20 Beijing new-home transacted area rose 36% MoM; Guangzhou new-home transacted area rose 9% YoY. China Index Academy says June resale activity remains on an upward trend, with core-city volumes at multi-year highs for the period; new-home recovery is structurally uneven and concentrated in prime districts and top projects.