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Market Overview - The market experienced a decline on June 13, 2025, with major indices closing lower: Shanghai Composite Index down 0.75%, Shenzhen Component Index down 1.10%, and ChiNext Index down 1.13% [1] - Sectors such as mining, precious metals, and aerospace showed gains, while beauty care, cultural media, and bioproducts faced losses [1] Oil Market Insights - According to Xinda Securities, the average price of Brent crude oil is expected to be around $70 per barrel for the year, with a high-low-high-low trend anticipated across the four quarters [2] - The potential for oil price increases is linked to risks in the Iranian region, while downward risks are associated with Saudi Arabia [2] - Iran's oil supply accounts for 3% to 4% of global supply, and escalating conflicts could threaten the Strait of Hormuz, a critical oil transport route [2] Gold Market Analysis - Minsheng Securities highlighted that global monetary expansion and rising geopolitical tensions are enhancing gold's appeal as a safe-haven asset [2] - The ongoing U.S. interest rate cut cycle is expected to support further increases in gold prices, indicating a bullish trend in the gold market [3] Military Trade Dynamics - Zhongtai Securities noted that recent geopolitical conflicts have led to a reassessment of military trade logic, suggesting significant growth potential in military exports [3] - China's military trade currently represents 5.9% of the global market, which is considerably lower than the U.S. at 43% and Russia at 9.6%, indicating room for expansion [3]