Shanghai Gold Exchange Gold T+D fell 1.45% to 885.6 yuan/gram at the open of the evening session on July 13 (Mon); Silver T+D rose 0.17% to 14,240 yuan/kg in the same session.

Qatar set August official selling prices (OSP) for crude: marine grade at USD5/bbl below Oman/Dubai quotes; onshore grade at USD4.50/bbl below Oman/Dubai.

On July 13 A-share markets weakened again after last Friday’s pullback amid external market volatility and phase-one profit-taking in tech. After the close a rumor circulated that A-share quantitative strategies had long incorporated Korean tech stock moves into factor models and triggered linked reactions across domestic tech sub-sectors. A founder of a quant private fund with AUM above CNY20 bln said: "From an industry perspective, top domestic quant firms rarely use Korean data to construct factors; this rumor is pure outsider speculation. The quant industry also suffered heavy losses today; from what I learned after the close, most peers posted negative excess returns." A manager at a CNY10 bln-level quant firm called the allegation unfair and added: "If quant funds traded solely on overseas tech moves, long-term excess returns would inevitably be negative; most quant firms do not do that. The industry still seeks alpha by identifying and holding high-quality companies."