2026-07-13 Monday
2026-07-19
11:32:56
【A-share midday review: Total market turnover of RMB1.8642 trillion, Chinese medicine sector opens lower and rises】 (1) The three major indices weakened collectively in the morning session. As of midday, the Shanghai Composite Index fell 1.54%, the Shenzhen Component Index fell 2.61%, the ChiNext Index fell 2.38%, the Beizheng 50 Index fell 3.9%, and the STAR Market 50 Index fell 1.84%. The total market turnover was RMB1.8642 trillion, a decrease of RMB318 billion from the previous day, with more than 4,500 stocks falling. (2) The military electronics, shipbuilding, lab-grown diamonds, film and television, and commercial aerospace sectors were among the biggest losers. The lab-grown diamond sector continued to decline, with Huanghe Whirlwind and Boyun New Materials hitting the daily limit down. The commercial aerospace sector underwent a deep adjustment, with more than ten stocks, including Aerospace Development, Shanghai Port, Western Materials, Shanghai Hugong, Shenjian Shares, and Tongyu Communication, hitting the daily limit down. The PCB concept sector also performed weakly, with many stocks, including Han's Laser, Jinan Guoji, and Antai Technology, hitting the daily limit down. (3) In terms of stocks rising against the trend, the traditional Chinese medicine sector opened lower but closed higher, with Longshen Rongfa and Tianmu Pharmaceutical hitting the daily limit, and Shanghai Kaibao, BioValley, and Jiuzhitang leading the gains. The banking sector fluctuated upwards, with Suzhou Bank rising more than 6% intraday, and Ningbo Bank, Xiamen Bank, and China Construction Bank all rising. The gas sector also performed well, with Shuifa Gas and Jiufeng Energy hitting the daily limit, and Tianhao Energy, Xin'ao Gas, and Shenzhen Gas leading the gains.
11:26:34
[EU rush to buy Russian LNG before the ban takes effect, imports hit record high in the first half of the year] (1) In the first half of 2026, the EU imported 9.89 million tons of Russian LNG from the Yamal LNG project, an increase of 18% compared to the same period last year, absorbing almost all of the facility's output. NGOs estimate that the payment for these goods may be as high as 6 billion euros. (2) The main importing countries are France, Belgium and Spain, which imported 3.6 million tons, 2.9 million tons and 2.7 million tons respectively in the first half of the year. (3) Current EU regulations only allow the import of Russian LNG under long-term contracts, and each shipment must be confirmed as compliant by the customs of the importing country. From January 1, 2027, the EU will completely ban the import of Russian LNG under long-term contracts.
11:18:38
[Former US Senate Majority Leader Mitch McConnell Hospitalized After Fall] On July 12, local time, US Republican Senator and former Senate Majority Leader Mitch McConnell issued his first statement regarding his health. The statement indicated that McConnell was hospitalized last month after an accidental fall. Doctors confirmed that he had no fractures, concussion, heart attack, stroke, or signs of tumors or bleeding. However, he did experience a brief period of unconsciousness and was taken to the hospital. Over the past few weeks, he has been receiving care and treatment for mild pneumonia. The statement said that as his condition continues to improve, McConnell has been transferred from the hospital to a rehabilitation center, but he is currently unable to return to the Senate to vote. It is understood that McConnell has been hospitalized for more than three weeks. (CCTV News)
11:15:37
[US-Iran Conflict Escalates, Inflation and Interest Rate Hike Expectations Exacerbate Pressure, Silver Falls Over 3%, Gold Retreats to $4050] 1. On Monday (July 13) during the Asian session, spot gold and silver opened lower and continued to decline, falling over 3% to $58.00 per ounce at one point, currently trading around $58.50 per ounce. Spot silver fell over 1.5% to $4052.97 per ounce at one point. The escalating US-Iran military conflict—with the US military striking more than 300 Iranian targets in the past three nights—has pushed up oil prices and exacerbated inflation and interest rate hike expectations, posing a double blow to the non-interest-bearing precious metal silver. 2. Geopolitically, the significant escalation of the US-Iran military standoff is the most crucial macroeconomic variable for the silver market. The US Central Command launched a new round of strikes on Sunday night, striking more than 300 Iranian targets in the past three nights. The Iranian Revolutionary Guard launched retaliatory strikes against US allies in the region and announced the "closure" of the Strait of Hormuz over the weekend, although the US military denied this. Iran stated that it will not resume further negotiations until Washington fully fulfills its commitments regarding shipping security and the normalization of Iranian oil exports. 3. The U.S. Central Command announced that it completed a new round of offensive strikes against Iran on July 12. This operation used precision-guided weapons, hitting dozens of targets at multiple locations within Iran. Targets included Iranian military air defense systems, coastal radar stations, missile and drone forces, as well as several small vessels. The U.S. military aims to weaken Iran's ability to disrupt commercial shipping in the Strait of Hormuz. The U.S. Central Command clearly stated that the Strait of Hormuz is a vital maritime passage for global trade and cannot be controlled by Iran. U.S. forces are deployed and prepared to ensure that commercial shipping continues to enjoy freedom of navigation. 4. Regarding monetary policy, the market is still pricing in at least one more rate hike by the Federal Reserve before the end of the year, an expectation further solidified against the backdrop of rising energy prices. The U.S. June CPI data to be released on Tuesday will be a key catalyst; stronger-than-expected data will further strengthen expectations of a rate hike. On the same day, Federal Reserve Chairman Warsh will make his first formal appearance before Congress, and the market is highly focused on his assessment of the impact of the U.S.-Iran conflict on the inflation outlook. 5. From a technical perspective, $58.00 has become a key short-term support level. If this level holds, silver may consolidate within the $58-$60 range; a decisive break below this level could lead to further declines. Given the current backdrop of both geopolitical risks and monetary policy uncertainty, silver market volatility is expected to remain high. The market is closely watching the Strait of Hormuz's navigation status, Middle East diplomatic developments, and how US data might revise expectations for Federal Reserve policy.
11:02:40
RMB SHIBOR (Shanghai Interbank Offered Rate): Latest data as of July 13, 2026. The 2-week SHIBOR rate decreased, while the 6-week SHIBOR rate increased. The overnight SHIBOR was 1.372%, up 1.19 basis points. The largest change was in the 1-week SHIBOR rate, which rose 1.7 basis points. (For details on SHIBOR and changes over the past ten working days, please refer to the chart created by FX678). Other periods show: 1-week SHIBOR at 1.4%, up 1.7 basis points; 2-week SHIBOR at 1.4%, up 0.1 basis points; 1-month SHIBOR at 1.412%, up 0.11 basis points; 3-month SHIBOR at 1.429%, up 0.11 basis points; 6-month SHIBOR at 1.4435%, down 0.05 basis points; and 9-month SHIBOR at 1.4635%, down 0.04 basis points. The one-year Shibor rate was 1.4735%, up 0.07 basis points.
10:48:43
[Survey: Singapore's Q2 GDP Growth May Slow to 5.3%, Supported by AI Demand but Dragged Down by Middle East Conflict] (1) According to the median forecast of a survey of nine economists by The Wall Street Journal, Singapore's Q2 GDP forecast, scheduled for release on Tuesday, may show a year-on-year growth of 5.3%, a slowdown from the 6.0% growth in Q1. (2) Economists at Moody's Analytics pointed out that demand for AI-related technology products has supported economic growth, but the Middle East conflict is expected to drag down the petrochemical, logistics, and transportation industries. (3) According to the forecasts of seven economists surveyed, seasonally adjusted Q2 GDP growth is expected to be 1.0%, the same as Q1.
10:43:21
[The National Meteorological Center continued to issue an orange alert for heavy rain at 10:00 AM on July 13] It is expected that from 2:00 PM on July 13 to 2:00 PM on July 14, parts of Liaoning, central and eastern Jilin, most of Shandong, central and northern Jiangsu, central and southern Anhui, northern Jiangxi, eastern Qinghai, eastern Gansu, central and western Ningxia, southern coastal Guangdong, Hainan Island, and Taiwan Island will experience heavy to torrential rain. In particular, some areas in central and northern Liaoning and central and eastern Jilin will experience very heavy rain, with localized areas in northeastern Liaoning and southeastern Jilin experiencing extremely heavy rain (250-350 mm). These areas will also experience short-term heavy rainfall (maximum hourly rainfall of 20-50 mm, locally exceeding 80 mm), and some areas will experience thunderstorms and strong convective weather. (CCTV)
10:29:25
[Iran Attacks US Targets in Bahrain, Jordan, and Kuwait] Early on July 13th local time, the Iranian Islamic Revolutionary Guard Corps issued a statement saying that its naval forces intercepted two vessels on the evening of July 12th for violating regulations. These vessels had their transponders switched off and were sailing along an illegal route, endangering shipping in the Strait of Hormuz. Meanwhile, the US, through attacks on Iranian coastal military bases, has once again exposed its barbaric nature. The Revolutionary Guard statement said that in response to these aggressions, Iran, in the first phase, launched missile and drone attacks, "igniting multiple large missile depots and fuel depots at the Prince Hassan Air Base in Jordan." Iran's retaliatory actions are ongoing. (CCTV International News)
10:28:10
A chart showing the latest China Cotton Price Index (CC Index) data (July 13, 2026): The 3128B cotton price index was 17,703 yuan/ton (3128B is the benchmark for cotton futures delivery recognized by the Zhengzhou Commodity Exchange), up 4 yuan/ton, or 0.02%. The 2227B cotton price index was 16,158 yuan/ton, up 3 yuan/ton, or 0.02%, while the 2129B cotton price index was 18,014 yuan/ton, down 3 yuan/ton, or 0.02%. FX678's specially created chart provides a summary of the latest 30 trading days of the China Cotton Price Index (CC Index). (The China Cotton Price Index is published once per trading day, quoting prices in three denominations: 3128B, 2227B, and 2129B. The Zhengzhou Commodity Exchange (ZCE) stipulates that the benchmark delivery commodity for cotton futures is domestic cotton of '3128B' grade. The spot market cotton transaction price needs to be converted to the price of 3128B cotton using a specific formula. For example, research reports will state the price of cotton from a certain origin, and then calculate its equivalent price in 3128B.)
10:11:13
【"Entertainment inflation" hits indoors: Game consoles and streaming services rise in price, consumers start to be more careful with their money】 (1) For years, American consumers have been suffering from rising prices for outdoor entertainment such as concerts and sporting events (i.e., "entertainment inflation"), and now this trend has spread to the home consumption sector. Game consoles (Microsoft Xbox, Apple devices, and Nintendo Switch 2 have all recently raised prices, with the highest increase being 11%), streaming subscriptions (Netflix, Amazon, Spotify, Disney, HBO Max, and Apple TV+ have all raised prices in recent years), and electricity prices (which have risen by 45% since 2019) have all increased, putting a heavy burden on home entertainment spending. (2) Exclusive data from PNC Financial Services shows that average consumer spending on home entertainment declined year-on-year in June, with Gen Z and Millennials each seeing a decrease of about 4%. Brian LeBlanc, senior economist at PNG, said that entertainment inflation will fully return in 2026, and it has now affected the home leisure sector. (3) Companies attribute the price increases to the shortage of AI-driven memory chips, which has led to higher component costs. Xbox CEO said that games are becoming unaffordable, and the company has announced thousands of layoffs and the divestiture of several game studios, while planning to manufacture cheaper consoles. NerdWallet economists pointed out that the trend of declining prices for computers and related equipment due to efficiency improvements has been reversed. (4) Faced with the price surge, consumers have adopted coping strategies: abandoning blockbuster games, switching to smaller games or board games, canceling repeated subscriptions, watching TV series through social media, or turning their leisure time to books (book prices fell by 4% during the same period). Fox's free platform Tubi has surpassed some mainstream streaming services in viewership, and executives are betting that consumers are willing to watch ads in exchange for free content. (5) In terms of outdoor entertainment, the median ticket price for this year's FIFA World Cup, co-hosted by the United States, has exceeded $900. The FIFA president said that watching the games in the United States is a "once-in-a-lifetime opportunity," and demand far exceeds that of previous years. Economists warn that rising entertainment prices may further exacerbate the public's economic pessimism—the University of Michigan consumer confidence index has fallen to a historic low. An Illinois graduate student lamented: "The overall economy is getting worse and worse, and I don't even have an escape route."
09:53:39
【Short-term trading advice for US crude oil: range-bound trading, sell on rallies and buy on dips】 (1) Reasons for analysis: The continued tension between the US and Iran, market concerns about the safety of transportation in the Strait of Hormuz support oil prices, and the supply risk premium remains. The US dollar remains relatively strong, limiting the gains, and the market awaits EIA inventory data and subsequent geopolitical news for guidance. The technical outlook remains volatile with a slight upward bias, and short-term consolidation at high levels is possible. (2) Key areas to watch: geopolitical situation, inventory data, US dollar index (3) Resistance: 75.00, 75.50, 76.00 (4) Support: 74.00, 73.60, 73.30
09:53:37
【Short-term trading advice for spot gold: range-bound trading, sell on rallies and buy on dips】 (1) Reasons for analysis: Geopolitical risks continue to support safe-haven demand, but rising energy prices strengthen inflation expectations. The market expects the Federal Reserve to maintain high interest rates, and the US dollar and US Treasury yields are relatively strong, which puts pressure on gold. This week's US CPI data will be an important catalyst for short-term direction selection, and the technical outlook remains range-bound. (2) Key focus: US Treasury yields, US dollar index, geopolitical situation (3) Resistance: 4100, 4120, 4150 (4) Support: 4050, 4020, 4000;
09:49:12
[Middle East Conflict Pushes Up Oil Prices, Gold Prices Fall Over 1%] 1. In early Asian trading on Monday, spot gold opened lower and continued to decline, falling over 1% to $4061.16 per ounce at one point, before recovering to around $4084, a drop of about 0.8%. The sharp escalation of the US-Iran military conflict, with Iran announcing the re-closure of the Strait of Hormuz, pushed oil prices up by over 4%, triggering a new round of market concerns about inflation and interest rate hikes, putting downward pressure on gold prices. 2. Over the weekend, the US and Iran launched fierce missile and drone attacks against each other. Iran attacked US facilities along the Persian Gulf coast on Sunday and stated that it had once again closed the Strait of Hormuz. As a result, oil prices rose sharply, the US dollar strengthened, and Asian stock markets generally came under pressure. 3. This week, the market will closely watch Federal Reserve Chairman Warsh's first semi-annual testimony to Congress, as well as key economic data such as June CPI, PPI, and retail sales. These will provide the market with new clues about the economic, inflation, and monetary policy outlook. 4. In its monetary policy report submitted to Congress last Friday, the Federal Reserve stated that inflationary pressures accumulated last year, driven by tariffs, rising war-related energy costs, and the AI construction boom, led to a further rise in U.S. inflation this spring.
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