Zhongtai Securities co-head of research Wang Fang said at a forum that market trading this year has focused on supply-chain shortages within the AI theme, a pattern underpinned by profitability. China’s electronics sector delivered Q1 profit growth that far outpaced revenue, and leading indicators such as inventories remain healthy. Wang said large-model vendors are expanding rapidly; an inference-driven surge and widespread Agent deployment will support sustained high capex in the AI sector, wh

S&P Global Energy said 78 vessels transited the Strait of Hormuz on June 24, the largest single-day passage since hostilities involving the US, Israel and Iran began. This month’s daily average transits have recovered to roughly 57% of pre-conflict levels. The transit rebound, together with multi-country autumn/winter crude restocking, has driven international tanker freight sharply higher. Domestically the impact is mixed: shipping companies have seen risk premia fall as route tensions ease and higher rates lift earnings, while refiners face margin pressure as rising sea freight increases landed crude costs. Many Chinese refiners are expediting crude replenishment to use the current window.

Eurozone government bond yields eased after US PCE inflation data; Germany's two-year Bund yield fell 1.6 bps to 2.538%.