Hong Kong’s Hang Seng Index closed up 176.23 points, or 0.7%, at 25,182.39 on Friday, May 29. The Hang Seng Tech Index fell 4.35 points, or 0.09%, to 4,884.23. The China Enterprises Index (HSCEI) rose 61.41 points, or 0.73%, to 8,425.82. The Red Chip

Domestic News 1. Ding Xiangqun appointed Party Secretary of the State Financial Supervision and Administration Bureau. 2. The State Administration for Market Regulation launches a special campaign to crack down on substandard and low-priced goods. 3. Yu Yuan Tan Tian: If the EU insists on pushing forward with its "overcapacity tool," China will retaliate. 4. Hong Kong plans to approve the calculation and payment of stamp duty for RMB over-the-counter securities transactions using a dual-counter system. 5. According to media reports, some banks in Hong Kong are tightening restrictions on investment account openings, but this has no immediate impact on savings accounts. 6. The Cyberspace Administration of China and four other departments jointly released the "Regulations on the Management of Multi-Channel Distribution Services of Internet Information Content." 7. The Shenzhou-21 manned spaceflight mission was a complete success. 8. The Cyberspace Administration of China and four other departments issued the "Key Points of Work for Improving the Digital Literacy and Skills of All Citizens in 2026." 9. Ministry of Finance: From January to April, the total operating revenue of state-owned enterprises was 26,270.09 billion yuan, a year-on-year decrease of 0.5%, while the total profit of state-owned enterprises was 1,374.17 billion yuan, a year-on-year increase of 1.9%. International News 1. Japanese and South Korean stock markets opened higher and closed higher, both hitting new record highs. 2. Reports indicate that SpaceX's IPO target valuation has been lowered to at least $1.8 trillion. 3. A Danish pension fund blacklisted SpaceX, citing concerns about its governance and excessively high valuation. Musk denied lowering the IPO valuation target for SpaceX. 4. Federal Reserve – ① Kashkari: It's too early to assert that we need to raise interest rates immediately after the release of April's PCE inflation data. ② Bowman: It's too early to judge the impact of war on inflation; price shocks can be temporarily ignored. ③ Schmid: It may be necessary to consider how to make monetary policy tighter. The determination to curb inflation must be clearly communicated. 5. Trump proposed revising the USMCA to increase the "Made in America" content in cars. 6. Russia's Ural Federal District issued its first missile warning. 7. Canada entered its first "technical recession" since 2020. 8. Japan's Ministry of Finance: Intervention in the foreign exchange market totaled 11.7 trillion yen between April 28 and May 27. 9. Iran War—① Iranian officials stated they have no intention of shipping enriched uranium out of Iran. ② Kazakhstan is reportedly willing to accept enriched uranium from Iran, provided the US and Iran reach an agreement. ③ Trump stated he would make a "final decision" on the Iran issue; US journalists interpreted this as an indication that Trump was approving an agreement. ④ Trump said the US and Iran reached an agreement on the nuclear issue and minor matters other than the Strait of Hormuz. ⑤ Of the large oil tankers affected by the Iran war, one-quarter have successfully sailed out of the Strait.

European Commission President Ursula von der Leyen: With the drone incident in Romania, Russia’s “war of aggression” has once again crossed the red line.