CSI 1000 index futures (IM) front-month contract fell below 8,300 points, down 2.82% intraday. CSI 500 index futures (IC) front-month contract was at 8,235 points, down 2.85% intraday.

Reports said U.S. and Iranian negotiators reached a preliminary understanding to extend a ceasefire by 60 days and begin talks on Iran’s nuclear file, but the memorandum awaits approval from President TRUMP. U.S. Vice President VANCE told media on May 28 negotiations are progressing but many details remain to be worked out. “Not done, but very close,” he said, adding any agreement must include verification mechanisms to ensure Iranian compliance.

Spot gold jumped nearly $20 intraday to $4,530/oz, up 0.76% on the day.