China's Sci-Tech Innovation Board 50 Index rose over 2%; Hehui Optoelectronics surged more than 10%, leading constituent gains.

Huatai Securities research: the recent deep selloff in A‑share nonferrous metals leaders primarily reflects valuation compression, not earnings damage. As of July 6, iFind consensus 2026E EPS for related companies has been revised up over the past ~180 days, indicating intact earnings outlooks. As of July 3, China Securities gold, aluminum and copper subindex PE‑TTM sit at the 11.7%/5.1%/42.1% percentiles since 2020; relative to All‑A PE‑TTM they are at the 0.2%/0.0%/0.1% percentiles. With easing US‑Iran tensions and marginally firmer risk appetite, Huatai says commodity fundamentals remain strong while valuations are at historic lows; downside for A‑share metals leaders may be limited and upside optionality notable — a high‑reward trade window relative to offshore pricing.

On social media, Musk said he had underestimated Anthropic, calling no firm’s models better than its Mythos and Fable and saying he expects Anthropic to release Mythos 2 soon. He added that, even if Anthropic is a competitor, he would not take steps that would seriously harm its development, citing Tesla’s past patent open-sourcing and opening of the Supercharger network and SpaceX’s practice of not raising prices or imposing unfavorable terms when launching rival satellite systems.