ECB ACCOUNTS: On the consumption side it is still too early to observe second‑round effects; wage negotiations need to take place first for these to materialize.

On May 28 local time, Bulgaria, the Czech Republic, Greece, Poland, Romania and Slovakia jointly warned that the European Commission's plan to sharply reduce free CO2 allowances could drive cement, steel and chemical plants into bankruptcy. They said the emissions limits set by the Commission are technically unachievable. The six countries warned that if mechanisms within the EU carbon emissions trading system (EU ETS) do not become immediately more realistic, Europe faces deep deindustrialization and a loss of strategic autonomy.

On May 28, combined turnover on the Shanghai and Shenzhen markets totaled CNY 2.968151 trillion, down CNY 270.411 billion from the previous trading day. Shanghai turnover was CNY 1.361326 trillion (previous session CNY 1.473449 trillion), with volume of 621 million lots (previous 660 million lots). Shenzhen turnover was CNY 1.606825 trillion (previous CNY 1.765113 trillion), with volume of 748 million lots (previous 816 million lots). Top turnover stock was Zhongji Xuchuang at CNY 32.912 billion, followed by GigaDevice at CNY 30.24 billion, FOXCONN INDUSTRIAL at CNY 26.438 billion, SMIC at CNY 24.822 billion and Xinyisheng at CNY 23.798 billion.