Shanghai Gold Exchange June 23 evening session: gold T+D closed down 0.35% at 900.43 yuan/gram; silver T+D closed down 2.75% at 14,827.0 yuan/kg.

South Korea's Kospi has reached extreme volatility levels that investors liken to meme-stock episodes. Retail demand has surged: the Kospi has recorded 20 trading days this year with closing moves of at least 5%, versus 2 days in all of 2025. Samsung Electronics has had eight trading days with moves of 10% or more this year (0 in 2025); SK Hynix has had 11 such days (2 in 2025). Heavy retail buying of single-stock leveraged ETFs and the outsized influence of the two mega-cap chip names are amplifying swings. Goldman estimates a 5% move in Korean equities could trigger about $4.7bn of ETF rebalancing flows as options dealers hedge, roughly one-eighth of a normal trading day’s turnover.

Chinese Politburo member and director of the Central Foreign Affairs Office Wang Yi met UAE Supreme National Security Council secretary al-Shamsi in New Delhi on the 23rd and said China and Arab states have maintained close communication since the US‑Israel‑Iran hostilities began. He urged a swift end to the fighting and set out three priorities: insist on a permanent, comprehensive ceasefire and implement the recently signed memorandum of understanding; restore normal navigation through the Strait of Hormuz as soon as possible to reopen the region’s development lifeline; and rebuild mutual trust among regional states and explore a new regional security architecture adapted to current conditions. Wang said the Middle East should not become an arena for great‑power rivalry and that China will continue to support the UAE’s constructive role in promoting long‑term regional stability.