Federal Reserve's Williams: Monetary policy is ready to achieve the Fed's goals.

In recent weeks, several analysts have pointed out that the main driver of index demand is not the Nasdaq 100, but the S&P 500, though this is not expected until at least next year, as the S&P 500's earnings screening and 12-month listing rule prevent SpaceX from being included for at least a year. Jeffrey analyst Jane Gibbons stated that despite this, SpaceX's low free float will also weaken the price impact of its inclusion in the index; given the low free float, the index weighting will not be as impactful as expected. Insider lock-up periods will expire in the coming weeks and months, potentially adding selling pressure to the stock price, offsetting the buying pressure from index inclusion. Some restrictions will be lifted in batches between 70 and 135 days after the June 12 IPO, while the lock-up period for CEO Musk and some other major investors will expire 366 days after the IPO. Susquehanna analyst Charles Minevino described this as "short-term overhead pressure" on the stock. Regardless of how the stock price fluctuates in the coming days and weeks, investors are undoubtedly preparing contingency plans. “If you look at options trading over the past five days, today’s volume is 2.5 times the normal level,” said Cboe’s Kinahan. “People are trying to hedge downside risk. Many are speculating before rebalancing.”

Key News 1. Shanghai Gold Exchange: Accepts Hong Kong Precious Metals Central Clearing System Limited as a member. Individual Stock News 1. Tongrentang Healthcare (02667.HK) listed today, receiving 251.74 times oversubscription. 2. CATL (03750.HK) released the Tianxing II light commercial supercharging version of its commercial power battery. 3. Huarong Energy (01101.HK): The company will continue to comply with the resumption of trading guidelines and strive to resume share trading as soon as possible. 4. China Tourism Group Duty Free (01880.HK): Plans to distribute a cash dividend of RMB 0.45 per share (inclusive of tax) for fiscal year 2025, totaling RMB 935 million. 5. Kuaishou (01024.HK): The company expects that the sale of Tencent Holdings (00700.HK) will not have any material adverse impact on the Group's operations. 6. Muyuan Foods (02714.HK): June sales revenue of commercial pigs was approximately RMB 7.5 billion, a year-on-year decrease of 41.40%; the average selling price of commercial pigs was approximately RMB 9.69 per kilogram, a year-on-year decrease of 31.18%. 7. Yuexiu Property (00123.HK): From January to June 2026, the company's cumulative contracted sales amounted to approximately RMB 50.506 billion, a year-on-year decrease of approximately 17.9%, and the cumulative contracted sales area was approximately 1.6987 million square meters, a year-on-year increase of approximately 16.2%. 8. Poly Property Group (00119.HK): In the first half of 2026, the company achieved cumulative contracted sales of approximately RMB 23.2 billion, a year-on-year decrease of 13.11%. The cumulative contracted sales area was approximately 799,000 square meters, and the average contracted sales price was approximately RMB 29,051 per square meter. 9. Hopson Development Holdings Limited (00754.HK): The Hong Kong Stock Exchange issued resumption guidelines on June 30, 2026, requiring the publication of unpublished financial results, etc. The 2025 annual results are expected to be published by the end of August 2026. The company is currently selecting an independent internal control advisor, and trading in its shares will remain suspended.