MORGAN STANLEY'S LONG POSITION IN H-SHARES OF MIDEA GROUP INCREASES TO 5.92% ON MAY 6 FROM 0.70% - HKEX

HASSETT: NOT GOING TO GIVE ADVICE ABOUT FED INTEREST RATES

China’s private refiners are seeking government approval to cut oil-processing rates after Beijing previously ordered them to maintain 2025 production levels to safeguard domestic fuel supply. The request comes as the Persian Gulf war drives up crude costs and crushes refining margins. The policy pushed refinery run rates in April to the highest level in nearly two years, causing gasoline and diesel inventories to surge while many refiners, especially in Shandong, suffered mounting losses. China’s top economic planner, the NDRC, has yet to comment on the requests.