China A-share rare-earth permanent magnet sector rallied in early trade. Xiamen Tungsten and Zhongke Sanhuan were locked at the daily limit; Youyan New Materials climbed over 8%; Huicheng Environmental and Shenghe Resources rose over 7%; Benlang New Materials and Zhongxi Rare Metals also advanced.

June 16, Beijing — China's foreign minister Wang Yi met Rebeca Grynspan, UNCTAD secretary-general and former vice-president of Costa Rica. Wang said Beijing — marking 55 years since the PRC regained its UN seat — reiterated support for multilateralism and adherence to the UN Charter after chairing the UN Security Council last month and presiding over a high-level Council meeting in New York. He said the next UN secretary-general should uphold the Charter, be capable, impartial and accountable. China, as a responsible major power and a UNSC permanent member, will take a constructive stance in the next secretary-general selection and work with others to defend and strengthen the UN.

U.S. President Trump said relations with Iran are now normalized.