欧洲央行管委艾斯克里瓦：基线情景存在相当大的不确定性。

East Money Research Institute deputy director and chief strategist Chen Guo said A-shares saw large-scale discounted sales of high-quality stocks driven by liquidity-driven forced selling by holders of dividend assets, creating price dislocations. He reiterated a strong preference for non-bank financials, especially brokerages, noting the sector's ROE is at its highest since 2022 with room to rise and its current PB sits in the bottom decile of the historical distribution. He said he does not expect a broad A-share bear market; if one materialises, brokerage valuations would likely have adjusted first. Conversely, he warned that any extreme market compression of broker valuations should ultimately snap back.

Beijing, June 18 — Foreign Ministry spokesperson Lin Jian said China will, in accordance with law and regulations, prohibit exports of all dual‑use items to Japanese military users and for military uses, with the stated aim of deterring Japanese militarization and pursuit of nuclear weapons. Lin said China’s position on safeguarding the stability and security of global critical‑minerals supply chains remains unchanged and urged parties to act constructively.