PBOC conducted a CNY 449.5 bln 7-day reverse repo today; bid and accepted amounts both CNY 449.5 bln; operation rate 1.40%, unchanged.

On June 16 Volcengine's Ark Experience Center launched the Seedance 2.0 mini video-generation model and said API access will be available soon. Positioned as a cost-efficient option for broader and scalable video production, public pricing shows image-to-video at 0.023 yuan per 1,000 tokens and video-to-video at 0.014 yuan per 1,000 tokens. At 720p, per-second generation cost is about 0.5 yuan, roughly 50% below Seedance 2.0.

US space-related stocks rallied: KULR Technology up 11%, Rocket Lab up 6.88%, Boeing (BA.N) up 4%.