China A-shares phosphate fertilizer and phosphorus chemicals sector rallied again; Chuanfa Longmang hit the upper trading limit, while Chuanjinnuo, Xingfa Group, Chuanheng Co., Hubei Yihua and Yuntianhua also advanced.

Deputy Prime Minister and Defence Minister Richard Marles said Canberra has signed an intergovernmental agreement to sell Australia’s over-the-horizon radar (OTHR) system to Canada. Marles described the deal as Australia’s largest-ever defence export, saying it will support more than 1,000 direct and indirect Australian jobs and add a new strategic element to the bilateral partnership.

Galaxy Securities says 1H26 Middle East conflict pushed oil and inflation expectations higher, flipping market expectations from Fed cuts to a possible in‑year hike and, together with liquidity realization, caused gold to spike then come under pressure. Markets have largely priced a single Fed hike in H2 into gold. If H2 sees easing of the Middle East conflict and any Hormuz blockade, oil and inflation would likely fall and market expectations for marginal Fed easing could re-emerge, supporting a renewed gold rally. Separately, escalating strains in global order and US debt/credit risks are accelerating de‑dollarization and a re‑anchoring of the global credit/currency system, prompting central banks, institutions and households to increase gold allocations; Galaxy says this supports a medium‑to‑long‑term uptrend in bullion and higher valuations for China’s A‑share gold sector.