H1 bond underwriting rankings released. Wind data show CITIC Securities retained the top spot by total underwriting; Guotai Haitong and CSC Financial ranked second and third. The top five brokers accounted for more than half of total underwriting, underscoring rising market concentration. Brokers are targeting expansion in Sci‑tech innovation bonds and industrial bonds to channel financial liquidity into the real economy.

The Russian Defence Ministry said on June 5 that Russian and Ukrainian intelligence services discussed transferring the bodies of Ukrainian soldiers killed in Konstantinovka, and that Kyiv rejected Moscow’s proposal. Moscow had on June 4 offered a humanitarian operation to hand over the remains and requested Ukrainian forces to halt shelling of Konstantinovka on June 6 between 12:00 and 18:00 Moscow time; Kyiv was asked to decide by 12:00 Moscow time on June 5. Ukraine has not responded.

Nomura says the global storage industry’s core imbalance is a severe supply shortage and AI-driven structural demand growth has not yet peaked. Investor fears of an imminent supply glut are materially overblown, and recent market weakness could offer a window to reassess storage valuations. Nomura notes semiconductor capex-to-capacity conversion is very slow; a Korean investment plan of about 4,800 trillion won will take at least 5–10 years to translate into actual capacity. High-margin HBM (high-bandwidth memory) is crowding out general-purpose memory capacity, further tightening supply. Nomura adds Meta’s recent decision is not an inflection point for weaker AI hardware demand; Meta bringing compute to market may help stabilise and push down per-token prices that have risen amid current compute shortages.