Markets / Commodities
- Shanghai Gold Exchange warns of heightened volatility in precious metals,
urges risk controls and prudent trading
- Gold erased its 2026, dropped nearly 5% below $4,300, its worst weekly loss
since 1983
- China imposed temporary controls on refined fuel prices, with gasoline and
diesel prices effectively raised by 1,160 yuan and 1,115 yuan per ton,
respectively
Rates / Macro
- Yield gap between 10-year Chinese government bonds and U.S. Treasuries widens
to about 260 basis points, largest since August 2025
- Goldman Sachs raises U.S. recession probability to 30%
Technology / AI / Semiconductors
- TSMC’s 2nm capacity oversubscribed, orders pushed beyond 2028
- Alibaba Damo Academy may unveil major AI chip tomorrow
- Sources: Alibaba to launch JVS Book laptop and JVS Box mini PC, both based on
OpenClaw-like architecture; hardware led by Aliyun Wuying team to extend AI
agent experience from software to devices
- Several private equity firms in talks for minority stakes in OpenAI, Anthropic
JVS, sources say
- Apple sets June 8 WWDC to unveil key AI push
Corporate / Capex
- Xiaomi's Lei Jun says the company has invested over 100 billion yuan in the
last five years, and to invest 200 billion yuan in the next five years
Geopolitics / Energy / Iran
- China’s state-owned refiners are exploring purchases of Iranian crude after
the US allowed some oil already on tankers to ease Middle East war price
pressures
- Iran’s defence council says an attack on Iran’s coast or islands will cut Gulf
routes and communication lines, lead to laying of explosive sea mines including
from Iran's coast
- Trump: Have had talks with Iran regarding end to hostilities
- Trump to Fox Business: Deal with Iran could be 5 days or sooner
- Trump suggests Hormuz will open soon, not clear on conditions
- Iran has not responded to US requests for talks: TV
- Iran's parliament speaker: No negotiations have been held with the US, and
fakenews is used to manipulate the financial and oil markets and escape the
quagmire in which the US and Israel are trapped: X post
- Thousands of U.S. Marines are set to enter U.S. Central Command on Friday, the
same day President Donald Trump’s deadline for Iran to reopen the Strait of
Hormuz
Policy / Regulation / Industry
- Beijing authorities summon 12 platforms over “cutthroat” competition
- China industry minister meets heads of several enterprises and business
associations including as Apple, Qualcomm, SK Hynix, Volkswagen, Mercedes-Benz
and Siemens - statement
