According to the Financial Times, BANK OF ENGLAND'S governor BAILEY said a 60-day ceasefire would help address the issue but would not fully resolve it.

The most-active futures contract on the container shipping index (Europe route) broke above 3,500 points, rising nearly 5% intraday to the highest level since Aug 2024; open interest increased by more than 2,600 contracts on the day.

May 29 — Shanghai and Shenzhen combined turnover reached CNY3.32 trillion, up CNY350.88 billion versus the prior session. Shanghai turnover was CNY1.53 trillion (prior CNY1.36 trillion) with volume 732 million lots (prior 621 million); Shenzhen turnover was CNY1.79 trillion (prior CNY1.61 trillion) with volume 849 million lots (prior 748 million). Highest single-stock turnover: Zhongji Xuchuang CNY33.89 billion, followed by Tianfu Communication CNY28.93 billion, FOXCONN INDUSTRIAL CNY27.39 billion, GigaDevice CNY26.72 billion and JCET CNY26.51 billion.