On June 23 local time Denmark's embassy in Tehran reopened after being temporarily closed since March 10, Foreign Minister Lars Rasmussen told Denmark's foreign policy committee. Denmark's Foreign Ministry continues to advise citizens not to travel to Iran.

Japan 20-year government bond yield fell 1.5 bps to 3.565%.

CITIC Securities says this edition of the Lujiazui Forum should exert three constructive forces on non-bank finance: capital markets supplying incremental financing, an improved regulatory framework, and liquidity measures to curb risk. Securities firms are the most direct beneficiaries: the STAR Market’s fifth-set standards have been widened to cover AI large models, and combined with derivatives liberalization and cross-border business innovation, investment banking and FICC show clear upside. Insurance reforms to align reporting and banking (reporting-and-banking unification) should compress channel fees and liability costs; cleanup of disorderly competition will accelerate consolidation and reinforce compliance advantages at top insurers. The PBOC has created a liquidity support facility for non-banks, building a multi-layered risk-mitigation mechanism. Direct financing’s share has overtaken bank loans for the first time, providing structural support to brokers’ long-term ROE. Analysts recommend focusing on leading brokerages and insurers with compliance strength. Insurance sector valuations look attractive; current share prices overstate near-term earnings drag from low rates and high base effects, while asset-side recovery could boost Q2 profit growth and trigger price repair.