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May 17th - According to data from online platforms, as of May 17th, the total box office revenue for films in 2026 (including pre-sales) has exceeded 14.4 billion yuan.Qatars Ministry of Foreign Affairs: The Prime Minister and Foreign Minister of Qatar held a telephone conversation with the Saudi Foreign Minister. They reviewed bilateral cooperation and ways to further support and strengthen it, and also discussed regional developments, particularly those concerning the US-Iran ceasefire, as well as efforts aimed at de-escalating tensions and enhancing regional security and stability.According to Al Jazeera, the Israeli military stated that an "a suspicious aerial target" was detected after alarms were sounded in the northern Misgaff-Am region. The aircraft crashed near an area where Israeli forces were operating in southern Lebanon, and there were no casualties reported.On May 17th, Yonhap News Agency reported that Samsung Electronics labor and management will begin a second round of post-incident mediation at 10:00 AM local time on the 18th. Previously, the labor side had announced an 18-day general strike starting on the 21st, making the possibility of reaching an agreement through mediation to resolve the conflict and avoid a strike a major concern. Under the mediation of the Central Labor Committee of the Ministry of Employment and Labor, labor and management held marathon negotiations from the early morning of the 11th to the 13th, but failed to narrow the gap on performance bonus payment standards, leading to a breakdown in negotiations. The committee requested on the 14th that labor and management restart negotiations on the 16th, but this was refused. This time, both sides accepted the mediation request, and negotiations will resume after a five-day hiatus. Samsung Electronics Chairman Lee Jae-yong returned to South Korea on the 16th after an overseas business trip. Upon arriving at the Gimpo Business Aviation Center in Seoul, he called on labor and management to return to the negotiating table. Lee Jae-yong stated that at this moment, they should unite their strength and move in the same direction, and once again exert their utmost efforts to truly be proud to be "Samsung people." Minister of Employment and Labor Kim Young-hoon also met with representatives of labor and employers on the 15th and 16th respectively to explain the governments position and coordinate opinions.On May 17, according to Japans Kyodo News, a U.S. Navy sailor stationed in Japan was arrested by local police on suspicion of stealing a wallet and other items. The report stated that the incident occurred at approximately 2:15 AM local time (1:15 AM Beijing time) on May 17. The suspect allegedly stole a paper bag containing a wallet, smartphone, and other items worth approximately 105,000 yen (about 4,503 yuan) from a taxi in Sasebo City, Nagasaki Prefecture. The taxi driver called the police, reporting that a man suddenly got into the car, argued with a woman inside, and then stole the paper bag. The report also stated that the U.S. sailor is affiliated with the U.S. Marine Corps base in Sasebo and has denied some of the charges.

Asian Stocks Rise; China Plans to Relax COVID Measures; However, Concerns Remain

Aria Thomas

May 30, 2022 11:21

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China's relaxing of several COVID-19 restrictive measures and U.S. markets' greatest week since November 2020 before Monday's Memorial Day weekend sent Asia Pacific stocks higher on Monday morning.


The Nikkei 225 gained 2% by 10:24 p.m. ET (2:24 a.m. GMT), while the KOSPI gained 1.27 percent.


The S&P/ASX 200 increased 0.91 percent in Australia.


Hong Kong's Hang Seng Index rose 2.19 percent .


The Shanghai Composite rose 0.55 percent, while the Shenzhen Component rose 0.04 percent.


Both the S&P 500 and Nasdaq 100 contracts were higher, a possible indication that the rebound could continue. As institutional investors rebalance their portfolios in anticipation for the end of the month, the S&P 500 erased its May losses and ended a streak of seven straight weekly losses.


As the European Union (EU) failed to agree on a revised package of Russian sanctions in response to Russia's invasion of Ukraine on February 24, the dollar remained stable while the euro fluctuate. The U.S. holiday prevents the trading of cash Treasuries in Asia.


China recorded fewer cases of COVID-19 in both Beijing and Shanghai, encouraging the government to relax some restrictions in an effort to stimulate the economy.


After one of the worst starts to the year for global markets, the key question for investors is whether the bottom of the recent selloff is near. Investors have been buying the dip. Concerns continue, however, regarding stricter monetary policies from central banks, growing food inflation resulting from the conflict in Ukraine, and China's COVID-19 measures.


Bloomberg quoted Citigroup (NYSE:C) Australia head of investment experts Maheebeen Zaman as saying, "We are in the midst of a bear market rally."


Treasury yields are expected to peak in 2022, according to Zaman. "I believe the market will trade in a narrow range as investors try to determine how soon the next recession will arrive and how rapidly inflation will decline," he added.


As of Wednesday, the Fed will also begin reducing its $8.9 trillion balance sheet and will also print its Beige Book assessment on regional economic conditions. Presidents John Williams of the New York Fed and James Bullard of the St. Louis Fed will both speak at separate events on Wednesday, with President Loretta Mester of the Cleveland Fed discussing the economic outlook the next day.


Friday, the United States will release its May employment report, including non-farm payrolls. Tuesday will see the release of the Eurozone consumer price index, as well as China's manufacturing and non-manufacturing purchasing managers indexes.


Later in the day, EU leaders will convene in Brussels for a two-day extraordinary conference to discuss the war in Ukraine, defense, inflation, energy, and food security. The Food and Agriculture Organization of the United Nations will also release its monthly food price index on Friday, just as global supply concerns reach their peak.

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