Oil prices may fall toward $70! JPMorgan: Global equity rotation is set to resume.
With a peace agreement between the U.S. and Iran imminent, JPMorgan strategist Ward expects oil prices to potentially drop to $70 in the coming weeks. She believes sustained downward pressure on oil prices would reignite the market rotation previously interrupted, providing tailwinds for equities; meanwhile, lower oil prices could create room for central banks to cut interest rates, offering additional support to stock valuations.
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Fund Flows | Southbound capital reduced holdings of Hong Kong-listed stocks by over HK$2.11 billion, marking the fifth consecutive day of selling Alibaba.
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Reduced risks in the Strait of Hormuz could push U.S. gasoline prices below the $4 mark, offering consumers a 'breather' from high fuel costs.
The average price of gasoline in the United States has remained above $4 per gallon for 76 consecutive days, continuing to weigh on consumers. A U.S.-Iran deal is nearing completion, and analysts expect gasoline prices to fall to $3.75 by July 4. Although there are signs of resumed navigation through the Strait, risks such as hurricanes and tight inventory levels persist, leaving oil price movements subject to uncertainty.
Zhitoong HK Connect Active Trading | June 15
Stock Connect Active Trading | June 15, 2026