A-share shipping and ports sector extended losses in the afternoon session; COSCO Shipping Energy slid about 9%, China Merchants Energy Shipping fell over 6%, with Nanjing Port, Ningbo Ocean Shipping and China Merchants Nanyou also trading lower.

Hunan provincial party secretary Shen Xiaoming chaired a June 16 planning meeting on industrial development and major project construction, directing the province to plan for future industries, solidify advantaged sectors and upgrade traditional industries to expand industrial capacity. He called for long-term strategic patience and a determined effort to tackle difficulties, better situational and trend analysis to support policy decisions, and fuller use of universities and research institutes to drive industrial innovation. The province will push for return of Hunan entrepreneurs, raise the quality and efficiency of government investment funds, and pursue a dual stock-and-flow approach—spatially prioritizing activation of existing assets while strengthening incremental industrial capacity—to lift economic quality and achieve reasonable scale growth.

National Bureau of Statistics: Beijing resale residential prices in May +0.1% MoM (Apr +0.4%), -6.5% YoY (Apr -7.4%).