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On June 23, the State Administration for Market Regulation released a list of cases of unconditional approval for mergers of undertakings from June 8 to June 14, 2026. These cases include the acquisition of Anhui Wanwei Group Co., Ltd. by Anhui Conch Group Co., Ltd., and the establishment of a new joint venture between the Saudi Public Investment Fund and Saudi Aramco.On June 23, 2026, the draft of the Financial Law of the Peoples Republic of China was submitted to the 23rd session of the Standing Committee of the 14th National Peoples Congress for its first review. The Financial Law is the fundamental, comprehensive, and overarching law governing my countrys financial sector, positioned as the "1" in the financial legal system, playing a guiding, leading, and regulating role. The laws "N" concerning banking, insurance, and securities, as well as other financial laws and regulations "X," need to be aligned with the basic provisions established by "1," with equal emphasis on legislation and revision, specifically regulating financial activities in each sector. Together, "1+N+X" constructs a scientific, complete, and unified financial legal system. The draft Financial Law adheres to the main themes of strong regulation, risk prevention, and promotion of high-quality development, emphasizing the coordinated development and security, and focusing on resolving legal challenges hindering high-quality financial development.Hong Kong-listed large-scale model stocks weakened, with MINIMAX-W (00100.HK) opening higher but closing down more than 3%, and Zhipu (02513.HK) once falling nearly 8%.Hong Kong-listed pharmaceutical company Jieankang (02617.HK) fell nearly 50% in early trading, with a turnover of over HK$6.76 million.According to Futures News on June 23, as of 09:30 Beijing time, WTI crude oil futures rose 0.43%, while US natural gas futures fell 0.61%.

Forex

Volatility subsides around 101.80 as focus shifts to US S&P PMI in US Dollar Index Price Analysis

The US Dollar Index is in the green in advance of provisional US S&P PMI data. Thursday's market behavior was erratic after the publication of the eleventh consecutive report of higher-than-anticipated unemployment claims. The Fed's decision to increase interest rates has led to persistently deteriorating labor market conditions.