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The China Earthquake Networks Center officially reported that a magnitude 2.9 earthquake occurred at 12:07 on May 28 in Ningnan County, Liangshan Prefecture, Sichuan Province (27.20 degrees north latitude, 102.62 degrees east longitude), with a focal depth of 10 kilometers.

Israel Defense Forces: In the past two days, IDF soldiers, acting on intelligence from the Israel Security Service, arrested five terrorists in three targeted counter-terrorism operations in the Judea-Samaria district.

Chart: Silver ETF Holdings Report as of May 28, 2026 (Thursday)

On May 28th, the International Energy Agency (IEA) stated in a report that global investment in natural gas projects is expected to grow by more than 10% this year, reaching $330 billion, the highest level in 10 years; while upstream oil investment will decline for the third consecutive year. As the war in Iran disrupts global energy markets, energy companies are accelerating investments in other regions and increasing spending on renewable energy, liquefied natural gas (LNG), and coal to strengthen supply security. The IEA's 2026 Global Energy Investment Report states that despite the turmoil in the Middle East, capital investment in the energy sector will grow by 5% in 2026, reaching $3.4 trillion, of which $2.2 trillion will be invested in renewable energy, energy storage, power grids, and low-emission fuels. Investment in oil supply will be less than $500 billion. The growth in natural gas investment is mainly driven by US LNG projects, but the current crisis has made Asian importers more cautious about their reliance on natural gas. Coal investment will reach a 14-year high of $180 billion. Nuclear energy investment is recovering, with investment expected to reach $80 billion this year. Middle East oil and gas investment is projected to decline by 1% in 2026, as capital deployment capacity is weakened by infrastructure damage, declining revenues, and production disruptions.

The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.0 occurred near Ningnan County, Liangshan Prefecture, Sichuan Province (27.21 degrees north latitude, 102.61 degrees east longitude) at 12:07 on May 28. The final result is subject to the official rapid report.

Euro Stoxx 50 futures fell 1.2%; UK FTSE 100 futures fell 0.95%; and German DAX 30 futures fell 0.93%.

Nasdaq futures are currently down 0.88%; S&P 500 futures are down 0.36%.

US President Trump posted a picture on social media with the caption: "The government's initial $8.9 billion investment in Intel (INTC.O) is now worth more than $51 billion."

New York gold futures fell below $4,400 per ounce, down 1.83% on the day.

Futures Market News, May 28th: 1. Jiangsu Jingshen Chemical's soda ash plant began maintenance on May 15th, expected to last half a month. Prices are stable, with light soda ash quoted at 1250 yuan/ton ex-factory. 2. Hubei Shuanghuan's soda ash plant is running again. Prices are stable, with light soda ash quoted at 1180-1200 yuan/ton. 3. Zhongyan Anhui Hongsifang's soda ash plant began maintenance on May 15th, expected to last one month. 4. Taiwan Glass Group Shilian Chemical (Jiangsu) Co., Ltd.'s soda ash plant is undergoing maintenance, starting May 7th, expected to last one month. 5. Inner Mongolia Boyuan Yingen Chemical's 7.8 million tons/year soda ash plant is operating at reduced capacity. Currently, the ex-factory price of qualified light soda ash is 820 yuan/ton. 6. Tangshan Sanyou's 2.3 million tons/year soda ash plant is operating at 70% capacity. 7. Guangdong Nanfang Alkali Industry's 600,000 tons/year soda ash plant is operating at 60-70% capacity. 8. Tianjin Alkali Plant's 800,000-ton/year soda ash unit is operating at reduced capacity. The current ex-factory price of light soda ash is 1,300 yuan/ton, and transactions are negotiable.

The Australian dollar fell below 0.71 against the US dollar (AUD/USD), down 0.58% on the day.

On May 28th, NIO CEO William Li mentioned during a media Q&A session about the NIO ES9 that the prices of raw materials, including nickel, cobalt, and lithium carbonate, have risen this year, increasing the cost of a single vehicle by more than 10,000 yuan. Li noted that the impact of commodities and memory chips on the automotive industry extends beyond the automotive sector to other, more rapidly growing and lucrative industries, leaving automakers with little bargaining power. He added that memory chip prices have not yet decreased after this year's rise, and the increased costs from raw materials are unlikely to decrease in the short term; these costs will have to be absorbed by the companies themselves.

Australia's Health Minister announced that the quarantine period for cruise ship passengers returning from Hantavirus cases will be extended to 42 days.

The yield on Japan's 20-year government bond rose 2.0 basis points to 3.615%.

Futures News, May 28th: Styrene prices continued to fall this week. As of May 27th, the average closing price in Jiangsu market was 9035 yuan/ton, a decrease of 630 yuan/ton from May 20th, a drop of 6.52%. 1. Costs: Following the renegotiation between the US and Iran, and Iran's announcement of a peace agreement, oil prices fluctuated and fell. As of the close of trading on May 27th, Brent crude oil prices fell 10.22% compared to the previous Wednesday. Benzene followed the decline in oil prices, and downstream industries remained unprofitable, resulting in low enthusiasm for raw material procurement, which also put pressure on spot prices. However, the main ports maintained destocking to some extent, limiting the decline. As of the close of trading on May 27th, the average daily price in the East China market fell 7.54% compared to the previous Wednesday. 2. Supply and Demand: With the shutdown and maintenance of the Zhenhai Liande Phase I plant, weekly output may decrease by 3.17% week-on-week. Benzene production is expected to increase this Wednesday, but downstream buying interest remains weak. With export shipments being loaded, main port inventories have decreased to below 100,000 tons, providing fundamental support for prices. 3. Forecast: The current price drivers for bulk chemicals remain on the raw material side. The market continues to focus on developments in the Middle East. This morning, news circulated that the US was resuming strikes against Iran, reigniting concerns. This, coupled with declining US crude oil inventories, also supported oil prices. Looking at styrene fundamentals, Shenghong's plant will shut down for maintenance next week, while Xinyang's plant will restart, potentially leading to a slight decrease in output. On the demand side, downstream acceptance of current styrene prices has improved, and market activity may improve. Major ports may continue to reduce inventory, but decreased export orders may slow the pace of inventory reduction. With both costs and fundamentals providing short-term support, styrene prices are expected to continue rebounding, but geopolitical developments still need to be monitored.

The Ukrainian parliament website shows that Ukrainian President Zelensky has submitted a draft law on approving the loan agreement between Ukraine and the European Union.

May 28th - This year, Children's Day falls on a Monday, and some schools in Beijing, Shanghai, Guangzhou, Wuhan, Fuzhou, and other cities have officially announced a one-day holiday for students in compulsory education and kindergarten children. Data from Qunar.com shows that bookings for scenic spot tickets on the platform for the three days from May 30th to June 1st have increased by 70% compared to the previous period; the top three most popular scenic spots on the platform are Shanghai Disney Resort, Universal Beijing Resort, and Legoland Shanghai.

On May 28th, Brendan Schulman, Vice President of Policy and Government Relations at Boston Dynamics, stated at the Humanoid Robotics Summit in Tokyo that robotics technology has so far been relatively unaffected by geopolitical pressures, but this could soon change. He noted that policymakers in Washington are beginning to pay attention to robotics. General government policies, such as tariffs on metals, also impact robotics because these policies affect supply chains.