The three major indices of the Shanghai and Shenzhen A-shares closed down 0.8% to 1.4%, while oil and gas exploration stocks rose against the trend

Premier Li Qiang of the State Council emphasized the need to adhere to innovation-driven development and focus on expanding effective demand. In addition, Guangxi has suspended the old-for-new subsidy for consumer goods after June 20. However, state media indicated that the "national subsidy" will continue, with RMB 138 billion in central funds to be distributed in batches.

The Federal Reserve maintained the federal funds rate target range as expected. The situation in the Middle East has deteriorated, with foreign media citing sources that U.S. senior officials are preparing for a possible attack on Iran in the coming days, potentially as soon as this weekend, but the situation is still developing, and the final plan may be adjusted. Iranian media reported that Israel attacked areas near Iran's heavy water reactor facility in Khondab.

Affected by geopolitical tensions, major stock markets in the Asia-Pacific region generally declined today (19th). The three major indices of mainland A-shares opened down 0.1% to 0.3% and then fluctuated downward, closing down 0.8% to 1.4% for the day. The Shanghai Composite Index closed at 3,362 points, down 26 points or 0.8%, with a turnover of RMB 473.3 billion; the Shenzhen Component Index fell 123 points or 1.2%, closing at 10,051 points, with a turnover of RMB 777.4 billion; the ChiNext Index dropped 27 points or 1.4%, closing at 2,026 points, with a turnover of RMB 386.9 billion.

In the banking sector, Industrial and Commercial Bank of China (601398.SH) rose 0.7%, while China Construction Bank (601939.SH) closed flat at RMB 9.22. Additionally, BYD (002594.SZ) fell 1.9%. Contemporary Amperex Technology Co., Limited (300750.SZ) dropped 1.4%.

Real estate stocks were soft, with Greenland Holdings (600606.SH) down 1.8%, China Vanke (000002.SZ) down 1.9%, and Poly Developments (600048.SH) down 1.6%.

The conflict between Israel and Iran continues to escalate, leading to a surge in oil and gas exploration stocks, with Sino Prima Gas (300483.SZ) and Blue Flame Holding (000968.SZ) hitting the daily limit, and Tongyuan Petroleum (300164.SZ) rising 11.4%. Among the three major oil companies, Sinopec (600028.SH) rose 1.4%, PetroChina (601857.SH) rose 0.8%, and CNOOC (600938.SH) fell 0.4%.

Weight loss drug concept stocks adjusted, with Changshan Pharmaceutical (300255.SZ) hitting the daily limit down, and Hanyu Pharmaceutical (300199.SZ) down 11.2%