CX Briefing: China Evacuates Citizens From Iran and Israel

A rundown of the news making headlines in and around China:

Middle East impact: Risk appetite in the Chinese mainland stock market has plunged after Israel attacked Iran on June 13. The price of gold rose rapidly as investors fled to safe-haven assets, while commodity price fluctuations boosted gains in sectors such as petrochemical and nonferrous metals. Despite the escalation, analysts have been quick to point out that in recent years, conflict in the Middle East has had no significant impact on the mainland or Hong Kong stock markets. If the escalation is short-lived, they expect the subsequent recovery in risk appetite will be a boon for sectors with high growth potential, such as technology and new energy. However, a protracted conflict will increasingly benefit commodity-linked sectors and the defense industry.