Most of the Hong Kong tech stocks opened lower, with Alibaba (09988.HK) falling nearly 3%, leading the decline. Baidu (09888.HK) and Meituan (03690.HK) both fell nearly 2%.

[Futures Hot Spot Tracking] Rubber futures continued to rise in early trading. What happened? Will the surge in Thai supply end the rebound? ​

Monday : ① Data: China's total retail sales of consumer goods in April year-on-year; China's industrial added value above designated size in April year-on-year; Eurozone April CPI final value; U.S. Conference Board leading indicator monthly rate in April. ② Events: Fed's Williams, Jefferson, and Bostic delivered speeches; National Bureau of Statistics released monthly reports on residential sales prices in 70 large and medium-sized cities; State Council Information Office held a press conference on the operation of the national economy; Shenzhen Stock Exchange held the 2025 Global Investor Conference in Shenzhen; Huang Renxun attended the Taipei International Computer Show and delivered a speech; Trump successively spoke with Putin, Zelensky and NATO member states ; Domestic refined oil will open a new round of price adjustment window. ③ Holiday: Canada's Toronto Stock Exchange closed for one day due to Victoria Day. ④ Financial reports: Ali Health, Ali Pictures, Leapmotor, Ctrip.com. Tuesday: ① Data: China's one-year and five-year loan market quotation rates until May 20 ; Germany's April PPI; Eurozone's seasonally adjusted current account in March; Canada's April CPI; Eurozone's preliminary consumer confidence index in May. ② Events: CATL's listing in Hong Kong; Reserve Bank of Australia's interest rate decision and governor's press conference ; G7 finance ministers and central bank governors' meeting held until May 22. ② Financial reports: ZTO Express, Huazhu Group, Bilibili, Weibo, Vipshop. Wednesday: ① Data: API and EIA crude oil inventories in the United States for the week ending May 16; EIA Cushing crude oil in Oklahoma, EIA strategic petroleum reserve inventories; UK CPI in April, April retail price index. ② Events: Fed's Musallem, Bostic, Hammack, and Daly delivered speeches; NYMEX New York crude oil June futures moved positions for a new month; ③ Financial reports: Baozun E-commerce, Baidu, and Xiaopeng Motors. Thursday: ① Data: China's Swift RMB share in global payments in April; PMIs in many European countries and the United States in May; Germany's IFO business climate index in May; UK CBI industrial order difference in May; US initial claims for the week , annualized total number of existing home sales in April, and EIA natural gas inventories for the week. ② Event: Fed's Barkin attended the "Fed Listening" event; the ECB released the minutes of the April monetary policy meeting. ③ Financial report: Lenovo Group. Friday : ① Data: UK Gfk Consumer Confidence Index in May; Japan's core CPI annual rate in April; Germany's first quarter unadjusted GDP annual rate final value; UK's April seasonally adjusted retail sales monthly rate; Canada's March retail sales monthly rate; US April new home sales total annualized. ② Event: Fed's Williams delivered a keynote speech at the Monetary Policy Implementation Seminar. ③ Financial report: Tongcheng Travel. Saturday: ① Data: US total number of oil rigs for the week ending May 23.