Shanghai Gold Exchange gold T+D fell 1.68% at the open on July 14 (Tuesday) to 873.3 yuan/gram; silver T+D fell 1.7% to 13,974 yuan/kg.

Guotai Haitong chief strategist Fang Yi says Hong Kong equities are likely to enter a liquidity relief window from mid‑late July through mid‑September. He cites an IPO lull lasting into end‑September and the early‑July lock‑up peak having passed, though large subsequent share unlocks of more than HKD30bn remain. He also sees rising odds of downward revisions to overseas rate‑hike expectations as Strait of Hormuz shipping has improved since June and oil prices have retreated, easing US imported‑inflation pressure. Key risks: an unexpectedly stronger dollar; the Hong Kong dollar hitting the weak‑side Convertibility Undertaking or prompting HKMA intervention (which would tighten liquidity); and persistent US‑Iran conflict uncertainty.

Iran's Fars News Agency, citing the Hormozgan provincial government, said a projectile struck the western area of Bandar Abbas port; no casualties reported so far.