HSBC Holdings (00005.HK) repurchased 3.2 million shares on June 19 at a cost of HK$292.3 million; it repurchased a total of 5 million shares on other exchanges at a cost of GBP43.3 million.

On June 20, Xiamen City issued the "Notice on Adjusting the Policy of Affordable Commercial Housing", which will be officially implemented on July 15, 2025. The measures include: shortening the requirements for obtaining household registration for households without housing registered in the city; relaxing the requirements for education, professional titles, professional qualifications and basic pension insurance for stable employment groups; relaxing the requirements for education, professional titles, professional qualifications and basic pension insurance for stable employment groups, and relaxing the time for paying basic pension insurance in Xiamen from "60 months" to "36 months"; lowering the age requirement for single residents to apply. The age of the local household registration and the stable employment single group in Xiamen will be uniformly relaxed from 35 and 30 years old respectively to 25 years old.

Kremlin: It is difficult to predict the Ukrainian regime, and although we prefer to achieve our goals through diplomatic means, "special military operations" will continue.

Kremlin: The situation in the Middle East could be potentially dangerous for us and we are concerned.

The onshore RMB closed at 7.1837 against the U.S. dollar at 16:30 on June 20, up 45 points from the previous trading day.

Circle (CRCL.N) maintained its recent upward trend before the U.S. stock market opened, now up more than 10%.

On June 20, Topsec stated on an interactive platform that the company has built a full-chain, all-round "mining" special governance plan that integrates defense, protection, monitoring, and blocking, and has launched related products such as data security operations, data classification and grading, data privacy protection, data leakage prevention, and cross-border data security and compliance, which can provide security protection for stablecoin-related scenarios.

Bank of England Governor Bailey: Still not convinced we need to create new forms of currency, such as central bank retail digital currency.

Bank of England Governor Bailey: I am not against stablecoins, but they must meet the single currency standard.

Bank of England Governor Bailey: Commercial banks need to meet the challenges provided by digital currencies.

Bank of England Governor Bailey: Modern central banking is built on institutional independence, which is essential to our ability to achieve our goals.

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.