A股液冷服务器板块午后震荡回升，远东股份涨停，八亿时空、科创新源、高澜股份、冰轮环境、盾安环境等跟涨。

Industrial metals retreated as Middle East hostilities intensified after an LME six-metal index hit a record high. Copper and aluminium had surged to fresh highs and zinc topped $4,000/t for the first time since 2022, driven largely by supply-side strains, but the US–Iran confrontation now poses downside risks to demand and prices via weaker global growth. The US military said it destroyed five Iranian oil tankers after what it described as an attempt by Tehran to attack a US Navy warship; Iran’s Islamic Revolutionary Guard Corps said it struck two US warships, eight tankers and 10 other vessels in the Persian Gulf in response to US strikes. Brent crude rebounded toward $100/bbl, heightening inflation worries ahead of US CPI on Friday.

HSBC views US equities as undervalued, but a spike in bond yields represents the largest downside risk to the market.