NEA deputy director Wan Jinsong told a State Council briefing that China will continue to rely on coal power during the 15th Five-Year Plan to support rapid renewables build-out and meet energy demand. He said China’s thermal power installed share is about 40% (below the global average); China accounted for more than half of global new wind and solar capacity in recent years; and since the 14th Five-Year Plan coal-fired capacity share has fallen from 49% to 32% and coal generation share from 61%

US May personal spending MoM 0.7% vs 0.6% expected; April revised to 0.4% from 0.5%.

Apple’s product price increases prompted a Friday sell-off in Asian technology stocks as investors worried that rising component costs will suppress end-device demand and eventually weigh on the memory chip market supporting AI investment. Markets are reassessing whether rapidly rising storage prices—driven by strong AI demand—could, by raising manufacturing and consumer costs, begin to curb overall spending. Apple’s move is being read as a clear signal that sector pricing power may come at the expense of future demand, prompting re-ratings of AI-exposed semiconductor names. Charu Chanana, chief investment strategist at Saxo, said markets no longer treat rising memory prices as an unambiguous positive for the AI trade: it confirms robust AI infrastructure demand but increases the cost of building and using AI, risking a slowdown in the memory cycle that markets have begun to price in.