A-share baijiu sector rallied; Jinzhongzi neared its daily limit-up, with Gujinggong, Shede, Jinshiyuan, Jiugui and Luzhou Laojiao also advancing.

Monex Europe analyst Nick Rees said in a note that Tuesday’s US June inflation print slowed more than expected, leaving the dollar at further downside risk. He said Monex still expects the Fed to keep policy rates unchanged through 2026, conditional on cooling Middle East tensions and contained oil prices. Rees added that markets still price a rate hike before year-end, and that expectation could weigh on the dollar.

July 14 — NIO was named a strategic investor in ChangXin Memory Technologies' IPO, committing 158 million yuan with an 18-month lock-up. Disclosures say NIO is a DRAM cornerstone strategic partner and will cooperate on automotive-grade LPDDR4X and LPDDR5X. NIO founder and chairman Li Bin said the partnership is proceeding smoothly and will help stabilise NIO's supply chain.