Canada manufacturing inventories rose 0.5% MoM in April, vs. +1.3% prior.

China A-shares rebounded into midday as AI and semiconductor-related names led gains. At the break the Shanghai Composite was up 0.92%, the Shenzhen Composite up 2.53%, and ChiNext and the STAR 50 both rose more than 3.5%. Turnover on the two bourses totaled 2.03 trillion yuan, down 25.9 billion yuan from the prior session. Breadth was strong: more than 3,300 stocks advanced and over 100 stocks hit daily limit-ups. PCB-related names drove a fresh wave of limit-ups. Precious metals rallied, led by Zhaojin Gold at the limit, with Chifeng Gold and Zijin Mining among top performers. Securities stocks also strengthened, with Bank of China Securities posting a second consecutive limit-up. Coal-mining and processing names lagged; Dayou Energy hit the down-limit while Guanghui Energy, Xinjie Energy, China Coal Energy and China Shenhua fell.

China's National Railway Administration said Jan–May railway fixed-asset investment totaled 248.5 billion yuan, up 2.6% YoY, with construction proceeding steadily. Passenger traffic Jan–May: 1.969 billion trips, up 5.7% YoY; passenger turnover 697.7 billion pkm, up 4.2%. May: 414 million trips, up 1.9% YoY; passenger turnover 140.4 billion pkm, up 2.2%.