Iran said on May 29 that 24 vessels transited the Strait of Hormuz in the past 24 hours, coordinated by the Islamic Revolutionary Guard Corps.

U.S. State Department: U.S. Secretary of State Rubio met with Pakistan's president.

Trust-channel fee rates have risen as leading trust companies proactively cut channel volumes and lift fees. Market participants say multiple counterparties are competing at single wealth managers for outsourced-mandate access as top trusts reduce their channel capacity, freeing business for mid- and small-sized trusts to capture. Several major trusts have already raised channel fees and scaled back business; industry sources say the market share ceded by leaders represents meaningful growth space for smaller firms. China Securities Journal.