Russian Finance Minister: Adjusting the cut-off oil price for inclusion in the National Wealth Fund in the budget rules is a difficult issue and must be done with caution.

Iranian Foreign Minister: After we resisted Israel, I think countries will distance themselves from this "aggression".

Bank of Japan Governor Kazuo Ueda: The underlying inflation rate is expected to gradually move toward a level consistent with our price target in the second half of the three-year forecast period.

Bank of Japan Governor Kazuo Ueda: It is expected that the basic inflation level will gradually rise after the suspension of interest rate hikes.

On June 20, Morgan Stanley published a report stating that the Hong Kong residential market has fallen for seven consecutive years, and house prices have fallen nearly 30% from the historical high in August 2021 (first hit in July 2018). Although it may still be in the early stages, the bank is optimistic that it may be at the beginning of an upward cycle and may last for 4 to 5 years. The reasons include that Centaline CCL has lagged behind the Hang Seng Index and may catch up; wage growth will help affordability return to the level of 2010; structural benefits such as low land supply and the abolition of additional stamp duty; low interest rates. It is also expected that house prices will rise by 2% in the second half of the year. In terms of stock selection, the bank prefers Sun Hung Kai Properties (00016.HK), Henderson Land Development (00012.HK) and Kerry Properties (00683.HK) because they are the main beneficiaries of the reduction in Hong Kong interbank offered rates and have ample saleable resources. Among them, the rating of Henderson Land Development was upgraded from "in line with the market" to "overweight", but the rating of Sino Group (00083.HK) was downgraded from "overweight" to "in line with the market".

The South Korean won rose 1% against the dollar during the day.

Futures News on June 20: The recent cold-rolled coil market fluctuated within a narrow range. The main reasons are: the geopolitical situation is turbulent, and the crude oil futures market has risen, which has a driving effect on bulk commodities. However, the fundamentals are not good, and the supply remains at a high level. At the same time, the off-season demand is obvious. Some southern regions have frequent rainfalls, and the terminal demand is weak, which has a negative impact on the market. In addition, there is still a new round of price increases and decreases in coke in the short term, and the cost support may also move downward. The short-term market is easy to fall and difficult to rise, and we still need to pay attention to the news to face the market guidance.

On June 20, local time on the morning of the 20th, the Israel Defense Forces said that the Israeli Air Force had recently attacked three ballistic missile launchers in Iran that were ready to launch, and also killed an Iranian officer who was directing operations at the launch site. Iran has not yet responded to this.

Moscow Mayor: Russia shot down a drone attempting to attack Moscow.

UniCredit CEO: We have already taken more steps than the ECB has required in terms of divestment in the Russian market. No other bank has reduced its business in Russia as much as we have.

On June 20, Dong Ximiao, chief researcher of China UnionPay, said that lowering the LPR is not a top priority. As market interest rates continue to decline, the marginal effect of interest rate cuts is also declining. From the perspective of external factors, the Federal Reserve has slowed down the pace of interest rate cuts. If the LPR falls too quickly, it may widen the interest rate gap between China and the United States and increase pressure on the RMB exchange rate. In the next step, lowering the LPR is not the only way to promote a decline in the overall financing cost of society. In the future, reducing the overall financing cost may start with reducing non-interest costs such as mortgage guarantee fees and intermediary service fees.

Aviation tracking data shows that a U.S. Air Force C-5M Super Galaxy transport aircraft landed at Prince Sultan Air Base this morning, hauling a large amount of cargo. According to the fuel level reported by ACARS, the transport aircraft landed with 200,000 pounds of cargo.

Israeli military: Operations are underway at the location where the missile was reported to have fallen.

IDF: Alarm sounded in southern Israel due to Iranian missile attack.

Hengrui Medicine (01276.HK) opened up 1.76% and was included in the list of securities eligible for the Hong Kong Stock Connect.

The Hang Seng Index in Hong Kong opened up 53.66 points, or 0.23%, at 23,291.4 points on June 20 (Friday); the Hang Seng Technology Index opened up 15.35 points, or 0.3%, at 5,103.67 points on June 20 (Friday); the CSI 300 Index opened up 18.52 points, or 0.22%, at 8,429.46 points on June 20 (Friday); the H-share Index opened down 0.98 points, or 0.02%, at 4,006.92 points on June 20 (Friday).

On June 20, the National Energy Administration released data on electricity consumption in May. From January to May, the total electricity consumption of the whole society was 3966.5 billion kWh, a year-on-year increase of 3.4%, of which the power generation of industrial enterprises above designated size was 3726.6 billion kWh. In terms of electricity consumption by industry, the primary industry consumed 54.3 billion kWh, a year-on-year increase of 9.6%; the secondary industry consumed 2591.4 billion kWh, a year-on-year increase of 2.2%; the tertiary industry consumed 740.6 billion kWh, a year-on-year increase of 6.8%; and the electricity consumption of urban and rural residents was 580.2 billion kWh, a year-on-year increase of 3.7%.