Vietnam's top leader: We will always adhere to our defense policy and not participate in military alliances targeting other countries.

At a CITIC Securities Shanghai strategy meeting on May 28, Heshun Technology said global high-end MLCC capacity is tight and cannot absorb a surge in downstream demand. To reduce supply‑chain risk, domestic and foreign buyers are bringing in onshore suppliers. Heshun, which focuses on high‑end functional film materials, says its technology direction aligns with industry trends and it is seeing an opportunity for domestic substitution. The company cautioned high‑end supporting film materials require complex processes and very high quality and stability, plus deep supply‑chain coordination, and that it must continue to optimize production and processes and improve product compatibility.

US Dollar: 1. The US core PCE price index rose further to 3.3% year-on-year in April, the highest level since November 2023, in line with market expectations. 2. Trump sent people to pressure the printing press to issue a $250 bill featuring his portrait. 3. Federal Reserve—① Mussalem: Higher real interest rates should be addressed through interest rate hikes. We cannot expect an AI boom to solve inflation. We consider the possibility of a rate hike to be greater than zero. ② Williams: Monetary policy is well-positioned, slightly restrictive. The inflationary shock is likely to peak in the coming months. The impact of soaring energy prices should be short-term. ④ Kashkari: It is too early to assert that an immediate rate hike is needed after the release of the April PCE inflation data. Euro: 1. ECB meeting minutes: Several members did not oppose a rate hike; the decision to keep rates unchanged was a "difficult choice" for some members. Japanese Yen: 1. Tokyo inflation slowed again, and the Bank of Japan's rate hike path faces uncertainty. 2. Japanese Finance Minister: Japan may take decisive measures against exchange rate fluctuations. 3. Former Bank of Japan board member: A June rate hike by the Bank of Japan is crucial; otherwise, it will fall behind inflation. Other: 1. The Indonesian rupiah fell to a record low against the US dollar. 2. Bank of Canada: The financial system is robust, but its vulnerabilities have increased. 3. Reserve Bank of New Zealand Assistant Governor: If data shows a second round of inflationary effects, a more aggressive rate hike will be considered. 4. According to a Reuters poll: Bearish bets on the Indonesian rupiah have reached their highest level since October 2022. 5. South African Reserve Bank Governor Kaniago: The Monetary Policy Committee did discuss the possibility of a 50 basis point rate hike.