A direct-administered municipality and China’s largest urban hub
Retail volumes have risen in May as hot weather and promotions boosted demand. Online sales and department stores led the gain, while food retailers fell. The three-month trend remains mixed amid shifting consumer behavior.
Iran has closed the Strait of Hormuz following its brief reopening, escalating tensions in the Middle East. This move has caused oil prices to rise sharply and increased market uncertainty. Negotiations between the US and Iran are ongoing, but tensions remain high as Iran refuses to attend new talks.
A string of recent in-flight incidents and airport disruptions has highlighted concerns over passenger safety. A Qantas flight was diverted to Tahiti after an unruly passenger attempted to walk off mid-flight, while other carriers reported separate episodes involving calls to authorities and on-board disruptions. The incidents have spurred debates about airline security and enforcement.
The Pentagon has updated its annual 1260H list and has added 188 Chinese entities, including Alibaba, Baidu and BYD, and reinstated memory chipmakers CXMT and YMTC. Beijing has protested and several listed companies have rejected the designations. The change will bar the Defense Department from direct contracts with listed firms this month and from third‑party purchases from 2027.
Regulators warn against using AI to hype stock prices and expand market manipulation. Wu Qing has outlined strict enforcement, with a push to guide AI use in capital markets and curb rumors. Active ETFs are supported in Shanghai and Shenzhen as part of broader market adjustments.