HSBC maintains Overweight on emerging-market equities and upgrades Eurozone equities to Overweight.

10-year UK gilt yields rose to their highest level since May 21 after renewed inflation fears from heightened US–Iran tensions and US President TRUMP saying an Iran ceasefire agreement has ended, which pushed oil prices higher. Investor concern about UK public finances ahead of a pending change in leadership added pressure; Prime Minister Starmer said he will resign in June and frontrunner Andy Burnham has outlined ambitious plans that could make it harder to maintain strict fiscal rules, Ebury's Matthew Ryan said.

港股科網股持續走高，百度(09888.HK)、小米集團(01810.HK)漲超5%，阿里巴巴(09988.HK)漲4.6%，騰訊控股(00700.HK)、嗶哩嗶哩(09626.HK)漲3%。