Türkiye's Financial Stability Board: The Turkish economy is resilient to shocks.

Energy 1. Japanese Prime Minister Sanae Takaichi: Gasoline prices in Japan remained the lowest among the G7 countries this week. 2. Egyptian Ministry of Oil: A natural gas field with approximately 330 billion cubic feet has been discovered in the western desert. 3. Saudi Arabia's oil export revenue in March increased by 37.4% year-on-year to $24.7 billion, the highest since October 2022. 4. UK Chancellor of the Exchequer Reeves: We are prepared to act if energy market conditions deteriorate later this year. 5. Abu Dhabi National Oil Company (ADNOC): Full navigation in the Strait of Hormuz will not resume until the first half of 2027. 6. HSBC: Maintains its 2026 TTF price forecast at $16 per million British thermal units (MMBtu), $12 in 2027, and $9 in 2028. 7. Sources: Despite the disruption to navigation in the Strait of Hormuz, OPEC+ still plans to raise its July oil production target by approximately 188,000 barrels per day. 8. Indian government officials: Some major diesel buyers are sourcing from state-owned retail gas stations. Diesel sales have surged by 20%-30% in some areas. 9. India's April crude oil imports fell 4.3% year-on-year to 20.1 million tons, gasoline exports fell 27.5% year-on-year to 9,000 tons, and diesel exports rose 25.6% year-on-year to 1.6 million tons. 10. Barclays: Maintains its 2026 Brent crude oil forecast of $100/barrel, with risks skewed to the upside. Even in the most optimistic scenario, oil inventories are expected to test their lowest levels since 2020. 11. IEA Executive Director Birol: The oil market may enter "danger zone" in July and August. The IEA is prepared to take action to coordinate further releases of strategic petroleum reserves if necessary. 12. UBS: Still believes the risks to crude oil prices are skewed to the upside in the short term. The September Brent crude oil price forecast was raised by $10 to $105 per barrel, and the WTI crude oil price forecast was raised to $97 per barrel. Precious Metals and Mining 1. Aluminum Corporation of China (Chalco): Plans to invest in a 1.2 million-ton-per-year alumina project. 2. Indonesia excludes nickel pig iron and some palm oil derivatives from its centralized export policy. 3. Market news: The newly established Manhattan Uranium Corporation has obtained a drilling permit at Nevada's largest historically producing mine. 4. The President of Belarus signed a law approving cooperation between the Belarusian and Russian governments in the fields of precious metals and gemstones and their products. Agriculture 1. Governor of the Central Bank of the Philippines: Supply shocks have affected fertilizer and rice prices. 2. Argentine President Milley: Argentina will reduce its wheat export tax from the current 7.5% to 5.5%. 3. President of the Philippines: Significantly increases pork import quotas from 54,210 tons to 204,210 tons and implements lower tariffs.

The Hang Seng Index closed up 219.51 points, or 0.86%, at 25,606.03 on Friday, May 22. The Hang Seng Tech Index closed up 100.67 points, or 2.11%, at 4,869.57 on Friday, May 22. The H-share Index closed up 75.55 points, or 0.89%, at 8,550.87 on Friday, May 22. The Red Chip Index closed up 4.29 points, or 0.1%, at 4,438.3 on Friday, May 22.