MLCC sector rallied with multiple stocks hitting daily limit-up after Hubei Jiangcheng Laboratory said it developed a 3D multilayer on‑chip capacitor with capacitance density above 1,000 nF/mm2. Zhongtai Securities estimates AI server power architecture and rising GPU power will raise MLCC usage per rack from ~2,000 in traditional servers to hundreds of thousands, lifting global AI‑server MLCC demand from 64.2 billion units in 2025 to 381.6 billion in 2030 (CAGR 42.8%). Under Zhongtai’s pricing assumptions—100,000 yuan/ton for MLCC ceramic powder in 2026, rising 10% p.a. to 146,000 yuan/ton in 2030—the AI‑server ceramic‑powder market would reach 5.6 billion yuan in 2030 (implied CAGR 65%). If supply tightness or product iteration drives additional price inflation of 50%/100%/200%, the 2030 market expands to 8.4 billion/11.1 billion/16.7 billion yuan respectively.

【批量涨停 高端MLCC陶瓷粉体有望量价齐升】6月15日讯，今日，MLCC概念板块再度活跃。消息面上，据湖北江城实验室消息，该实验室近期在电容关键技术上取得重大突破，成功研制出三维多层片上电容，电容密度突破每平方毫米1000纳法。AI浪潮催生高端MLCC放量，高端MLCC陶瓷粉体有望量价齐升。中泰证券研报称，AI服务器因供电架构复杂、GPU功耗走高，单机架MLCC用量由传统服务器2000颗左右跃升至数十万颗。据中泰证券测算，2025—2030年全球AI服务器MLCC需求自642亿颗增至3816亿颗，CAGR（年均复合增速）为42.8%。量价共振下，假设2026年AI服务器MLCC陶瓷粉体均价10万元/吨、后续每年涨价10%、2030年达14.6万元/吨，则2030年对应市场规模为56亿元，CAGR为65%。若叠加供需偏紧、产品迭代带来额外涨价，在50%/100%/200%涨幅时，2030年AI服务器MLCC陶瓷粉体市场规模有望扩大至84亿元/111亿元/167亿元。

Turkish foreign minister Fidan said on the 15th he welcomed a US‑Iran memorandum of understanding in which both sides agreed to end hostilities and called for subsequent negotiations to proceed constructively.

【土外长：希望美伊后续谈判以建设性方式进行】6月15日讯，土耳其外交部长费丹15日在社交媒体上发文，欢迎美国与伊朗达成谅解备忘录。 费丹说，美伊双方就结束战事达成一致，“这是该地区建立持久和平与稳定道路上的重要里程碑。希望后续谈判也能以建设性的方式继续进行”。

Rongchang Biotech (09995.HK) said its in‑house novel bispecific antibody RC148 has dosed the first patient in the randomized, multicenter Phase II/III trial RC148‑C303 testing RC148 plus chemotherapy as first‑line treatment for unresectable or metastatic colorectal cancer (CRC). The study will evaluate efficacy and safety of the combination.

【荣昌生物：RC148联合化疗一线治疗不可切除或转移性结直肠癌Ⅱ/Ⅲ期临床研究实现首例患者入组】6月15日讯，荣昌生物(09995.HK)宣布，公司自主研发的新型双特异性抗体药物RC148联合化疗一线治疗不可切除或转移性结直肠癌（CRC）的Ⅱ/Ⅲ期临床研究（RC148-C303），已顺利完成首例患者入组给药。该研究是一项随机、多中心的Ⅱ/Ⅲ期临床试验，旨在评估RC148联合化疗一线治疗不可切除或转移性结直肠癌的有效性和安全性。

美伊协议预期压低油价，多重利好推动金价周一大涨；但协议尚未公布细节，海峡实际开放仍需时日，这轮协议行情是趋势修复的开端，还是又一次短命反弹？

China A-shares rebounded into midday as AI and semiconductor-related names led gains. At the break the Shanghai Composite was up 0.92%, the Shenzhen Composite up 2.53%, and ChiNext and the STAR 50 both rose more than 3.5%. Turnover on the two bourses totaled 2.03 trillion yuan, down 25.9 billion yuan from the prior session. Breadth was strong: more than 3,300 stocks advanced and over 100 stocks hit daily limit-ups. PCB-related names drove a fresh wave of limit-ups. Precious metals rallied, led by Zhaojin Gold at the limit, with Chifeng Gold and Zijin Mining among top performers. Securities stocks also strengthened, with Bank of China Securities posting a second consecutive limit-up. Coal-mining and processing names lagged; Dayou Energy hit the down-limit while Guanghui Energy, Xinjie Energy, China Coal Energy and China Shenhua fell.

【A股午评：创业板指半日收涨3.66% AI及半导体板块强势反弹】6月15日讯，A股三大指数早盘震荡反弹集体上涨，截至午盘，上证指数涨0.92%，深证成指涨2.53%，创业板指、科创50指数均涨超3.5%，沪深两市半日成交额2.03万亿，较上个交易日缩量259亿。盘面上热点快速轮动，两市超3300只个股上涨，超百股涨停。盘面上，PCB概念板块高开高走掀涨停潮，逸豪新材20CM强势两连板，宏昌电子五天三板，天承科技、中材科技等十余股涨停。贵金属板块强势反弹，招金黄金涨停，赤峰黄金、兴业银锡、紫金矿业涨幅居前，证券板块强势拉升，中银证券两连板。此外，煤炭开采加工板块低开低走，大有能源封板跌停，广汇能源、新集能源、中煤能源、中国神华跟跌。

图示：2026年06月15日（周一）富时中国A50指数成分股午盘收盘行情一览：半导体、通信设备板块走高，银行板块全线飘绿

Former BANK OF JAPAN chief economist Seisaku Kameda said a US‑Iran peace agreement is unlikely to change expectations that the BANK OF JAPAN will deliver two rate hikes this year. With inflation pressure rising, the bank is likely to lift its short‑term policy rate from 0.75% to 1.0% at Tuesday’s meeting. Kameda said the April move would have come absent the Middle East war; reopening the Strait of Hormuz could ease some upward pressure on the pace of tightening but would not alter the bank’s intent to raise still‑low real borrowing costs at roughly two hikes per year. He expects a second hike after June, most likely in October or December. Governor UEDA will miss the June meeting for treatment of an infectious hepatic cyst; Deputy Governor Shin'ichi Uchida will lead the post‑meeting press conference and, Kameda said, is likely to reaffirm commitment to further tightening while avoiding explicit timing guidance amid Middle East uncertainty.

【前日本央行经济学家：美伊和平协议不会改变日本央行加息计划】6月15日讯，日本央行前首席经济学家龟田清作（Seisaku Kameda）周一表示，美国与伊朗的和平协议料不会改变日本央行今年加息两次的预期。随着通胀压力加剧，日本央行周二料将把短期政策利率从0.75%上调至1%。龟田清作表示，若非中东战争爆发，原本应该是在4月进行。他表示，如果和平协议促成霍尔木兹海峡顺利重开，可能会减轻日本央行加息步伐需快于预期、以抑制通胀的一些压力。“但这不会改变日本央行以每年加息约两次的节奏，来推高仍处于低位的实际借贷成本并使货币政策正常化的计划，”龟田清作称。他指出，在6月加息后，日本央行很可能在10月或12月再次加息。此外，日本央行行长植田和男因在医院接受感染性肝囊肿治疗，将缺席6月会议。副行长内田真一将代为主持记者会。龟田清作表示，内田真一料将重申日本央行继续加息的决心，但鉴于中东局势的不确定性依然存在，他将避免就下次加息的时机给出明确暗示。

Goldman Sachs estimates IPO lock-up expiries could introduce about $274bn (HKD2.13tn) of newly tradable stock supply in Hong Kong over the next 12 months. The bank expects strong demand — particularly from passive index funds and southbound flows — to act as a key liquidity buffer and absorb much of the supply. Historically, stocks typically fall 4–7% in the 3–6 months after lock-up expiry with wide cross-sectional dispersion; near-term returns are driven by the proportion of shares unlocked relative to total equity, while mid-term returns are linked to the post-unlock increase in free float and pre-expiry price performance. Companies with high cornerstone ownership, especially domestic cornerstone investors, tend to face larger sell pressure when lock-ups end.

【高盛：港股市场料迎逾2万亿解禁潮】6月15日讯，高盛表示，随着IPO限售陆续到期，香港市场未来12个月可能迎来约2740亿美元(约2.13万亿港元)的新增股份供给，预计强劲的股票需求能够吸收这一流入的供应。高盛报告指出，来自被动指数基金和南向资金的双重需求，构成了重要的流动性缓冲，有效缓解了限售股解禁带来的抛售压力。历史经验表明，在解禁后的3到6个月内，股价通常会出现4%至7%的温和下跌，而回报率分化严重。解禁后的短期表现主要由解禁股票数量占总股本的比例决定，而中期回报在结构上则受到解禁后自由流通股比例以及股票解禁前表现的驱动。基石持股比例较高，尤其是国内基石投资者的公司，在锁定期股票解禁后往往会面临更大的抛售压力。

At the morning close, China’s main futures contracts were mixed: fuel oil and methanol fell about 9%; SC crude, low-sulfur fuel oil (LU) and paraxylene dropped over 7%; asphalt, PTA and bottle-grade PET declined more than 6%. On the upside, SHFE silver gained about 8%; SHFE gold and tin rose over 4%; glass and platinum climbed around 3%; palladium and SHFE zinc were up more than 2%; soda ash rose nearly 2%.