ECB ACCOUNTS: Several members were not opposed to interest-rate hikes.

Foreign investors bought Japanese shares for an eighth straight week in the week to May 23, supported by a retreat in oil prices and gains in AI-related names after a stronger demand outlook, data from Japan’s Ministry of Finance released on Thursday showed. Net foreign purchases of Japanese equities totaled JPY1.08 tln (USD6.77 bln) in the week to May 23, up nearly 14% from JPY948.4 bln in the prior week. The technology sector drew heavy flows after NVIDIA last week forecast explosive demand for its flagship AI chips; SoftBank Group shares jumped 17.62% last week and chip designer Socionext rose 12.26%. Year-to-date, foreign investors have poured roughly JPY11.7 tln into Japanese stocks, compared with about JPY742.1 bln of net buying in the same period a year earlier. On the bond front, as the earlier sell-off eased and rising yields attracted buyers, Japanese long-term bonds saw net inflows of JPY1.35 tln after a JPY1.03 tln outflow the previous week. However, foreign investors trimmed short-term bond holdings by JPY2.22 tln, the largest reduction since March 28.

A joint report by Beijing Sport University, the China Institute for Sports Development, the National Fitness Research Institute and Meituan Research Institute projects China’s outdoor sports participation will exceed 800 million visits in 2025 and consumer spending will top 1 trillion yuan. Core consumers are aged 20–44; women account for 54.6% of participants. By subsegment: skiing represents 91% of snow-sport consumption; on land, karting 41.8%, camping 24.3% and trampolining 14.2%; in water sports, rafting is 77.9%; aerial experiences cluster in paragliding (34.5%) and skydiving (33.8%).