Shanghai silver most-active futures contract plunged 6.00% intraday, now trading at 17,474.00 yuan per kilogram. Palladium most-active futures contract fell 4.00% intraday, now trading at 317.80 yuan per gram.

South Korea — Bank of Korea policy rate decision on May 28: 2.50%; market expected 2.50%; prior 2.50%.

May 28 — China’s Defense Ministry said at a regular briefing that Xi and Putin met in Beijing and issued a joint statement committing to deepen military ties. The statement pledges to consolidate traditional military friendship, boost military-to-military trust, enhance cooperation mechanisms, expand joint exercises and maritime and air patrols, and strengthen coordination in bilateral and multilateral forums to address shared risks and uphold regional and global security. The ministry reiterated that the relationship will follow principles of non‑alignment, non‑confrontation and not targeting third parties, and said China will implement leaders’ consensus, offer mutual support on core interests and major concerns, and push strategic military coordination to a higher level.