Spot silver jumped more than $0.30 intraday, last $59.18/oz.

June ECB minutes say the bank can no longer ignore an energy shock, noting expected energy price rises could push medium-term inflation above its 2% target. The Governing Council unanimously raised the key rate to 2.25% last month, the first major central bank to hike in response to energy-price pressures linked to the Iran war. The minutes warn that the longer energy prices stay elevated, the greater the chance indirect and second-round effects will lift broader inflation and entrench the shock in core inflation and medium- to long-term inflation expectations.

A-share semiconductor materials stocks rallied; Shanghai Hejing hit its daily trading limit after its Zhengzhou subsidiary brought its Phase II 12-inch large-silicon wafer R&D and industrialization line into full production. With the line online, 12-inch epitaxial wafer capacity will gradually increase to 1.2 mln wafers/year. The company said the phased capacity release will align with domestic leading foundries' incremental demand and speed substitution of imported products, and that a planned SOI joint venture could weaken overseas vendor dominance and capture domestic substitution and emerging-application demand, amid structurally expanding high-end silicon wafer market prospects.