On June 22 at the fourth Chain Expo in Beijing, Yum China (09987.HK) — attending for a third consecutive edition — said its self-built Chuansheng Supply Chain operates 35 logistics centers, serves over 2,600 towns, coordinates more than 850 suppliers and supports operations at over 18,000 stores.

Qatar and Pakistan issued a joint statement saying talks were held in a positive, constructive atmosphere.

Huatai Securities says A-share market rose last week led by growth; the AI supply chain rallied on policy catalysts but apparent crowding is high. A K-shaped recovery is likely to continue short term and weak domestic demand increases the chance of additional policy support; the AI industry cycle remains strong but the sentiment pullback is shallow and hedges are thin, leaving fragility to build. Tactical guidance: moderate positions, do not chase highs and maintain a safety buffer. Allocation signals: 1) AI hardware and price-up beneficiary chains with high earnings visibility — optical modules, storage/CCL, MLCC, MPO; 2) names with two-way supply-demand improvement visible in earnings — consumer electronics, minor metals, home renovation and building materials; 3) sectors with steady shareholder returns and defensive attributes to hedge technology-trade volatility.