API: U.S. refinery crude runs rose 262,000 b/d in the week to June 5, prior increase 185,000 b/d.

霍爾木茲海峽受阻3個月，現在全球通脹水平如何了？

East Money Securities deputy head of research Chen Guo said the Shanghai Composite has corrected from prior highs and, irrespective of external volatility, he no longer adopts a structural bearish view on A-shares. He expects index upside to materially exceed downside over the next quarter and advises actively seeking structural long opportunities. Chen says the next market phase will be more balanced; in tech he prefers selective China AI supply-chain names that meet four criteria: revenue and profit growth that won’t peak this year, market cap not overstating their industrial/economic position, H1 results likely to beat optimistic expectations, and no expected downward revision to next-year earnings. He is especially bullish on carbon-related large caps in H2 and highlights A-share and Hong Kong-listed leaders in new and legacy energy, financials and property, new consumption, and internet as candidates for systemic re-rating.