Kweichow Moutai shares rise more than 2% on the A-share market.

Credit Agricole CIB CIOs say the ECB is more likely to deliver consecutive rate increases this summer rather than wait until September. "We expect the ECB to deliver two one-off rate hikes this year, in June and July," the firm said. The call is driven by rising inf expectations; survey data show firms are increasingly willing to raise selling prices, raising the risk that expectations could become entrenched. The firm adds there is currently no convincing evidence of significant second‑round effects, so it does not expect the ECB to start a prolonged tightening cycle.

The Federal Reserve said it will release annual bank stress test results on June 25 at 04:00 Beijing time. Thirty-two large banks were tested. Scenarios include a severe global recession with intensified stress in commercial and residential real estate and corporate debt markets. The results will not change large banks' capital requirements. The Fed in February said it will maintain current stress-test capital buffer requirements through 2027, after which new requirements may be calculated using loss-estimation models that incorporate public feedback.