Real-time News

May 14th - Since the beginning of this year, the national average rainfall has been 7% lower than the same period in normal years, with some areas experiencing 20-60% less rainfall, including western and southeastern Northeast China, western and northern North China, western and northeastern Northwest China, eastern and southern Huanghuai region, Jianghuai region, and most of South China. Water resources departments at all levels have fully utilized the digital twin water conservancy system and the joint scheduling system for river basin water projects to coordinate water demand across upstream and downstream areas, left and right banks, and main streams and tributaries. They have scientifically scheduled water projects to maximize water storage, utilize water during dry seasons, and ensure multi-source complementarity, precisely regulating the water volume and levels of rivers, lakes, and reservoirs to meet irrigation needs. Strengthening water conservation has effectively guaranteed water supply for spring farming and urban and rural water supply security. Currently, the country is gradually entering the flood season from south to north. The Ministry of Water Resources will continue to closely monitor rainfall and water conditions, strengthen forecasting and early warning, conduct rolling consultations and assessments, and coordinate the needs of various parties, including pre-flood drawdown of reservoirs, flood control during the flood season, urban and rural water supply, and agricultural irrigation. It will scientifically schedule key reservoirs in river basins to ensure flood control and water supply security.

According to Hong Kong Stock Exchange filings, Standard Chartered Bank repurchased 801,239 shares on other exchanges on May 13, for a total amount of £15 million.

May 14th - Air China, China Southern Airlines, Xiamen Airlines, and other airlines announced that fuel surcharges for tickets sold on routes within mainland China starting from 00:00 on May 16th will be increased. The specific rates are: RMB 90 per segment for routes of 800 kilometers (inclusive) or less, and RMB 170 per segment for routes over 800 kilometers. Infant passengers will be exempt from the fuel surcharge, while the fuel surcharge for children, disabled veterans, and disabled police officers will be reduced by half. For tickets sold on or before May 15th for routes within mainland China, changes made on or after May 16th will not be subject to the new rate adjustment.

May 14th - Air China, China Southern Airlines, Xiamen Airlines, and other airlines announced that fuel surcharges for tickets sold on routes within mainland China starting from 00:00 on May 16th will be increased. The specific rates are: RMB 90 per segment for routes of 800 kilometers (inclusive) or less, and RMB 170 per segment for routes over 800 kilometers. Infant passengers will be exempt from the fuel surcharge, while the fuel surcharge for children, disabled veterans, and disabled police officers will be reduced by half. For tickets sold on or before May 15th for routes within mainland China, changes made on or after May 16th will not be subject to the new rate adjustment.

On May 14th, a thematic exchange meeting on "China's Cross-border E-commerce Development and New Opportunities for South-South Cooperation" was held on May 13th at the Palais des Nations in Geneva, Switzerland. The meeting focused on China's mature experiences and practical cases in cross-border e-commerce in areas such as model innovation, regulatory governance, and tax collection. It also facilitated in-depth exchanges on topics such as how cross-border e-commerce can help facilitate trade and upgrade industries in developing countries in the South, exploring new models, paths, and mechanisms for cross-border e-commerce to empower South-South cooperation. Wang Zhihua, Director-General of the Foreign Trade Department of the Ministry of Commerce of China, stated that cross-border e-commerce has brought new opportunities for the development of developing countries in the South. China's development of cross-border e-commerce has not only served consumers in developing countries and improved their quality of life, but also facilitated the import of a large number of goods from these countries. The Chinese government has also helped relevant countries improve their ability to conduct cross-border e-commerce through technical assistance and personnel training. Going forward, China will continue to deepen South-South cooperation in the field of cross-border e-commerce, jointly writing a new chapter in South-South cooperation in the digital economy era.

On May 14th, the Shanghai Futures Exchange (SHFE) reported the following warehouse receipts and changes: 1. Lead futures warehouse receipts: 67,400 tons, an increase of 177 tons from the previous trading day; 2. Nickel futures warehouse receipts: 76,028 tons, an increase of 2,753 tons from the previous trading day; 3. Fuel oil futures warehouse receipts: 53,530 tons, unchanged from the previous trading day; 4. Natural rubber futures warehouse receipts: 138,420 tons, an increase of 1,090 tons from the previous trading day; 5. Aluminum futures warehouse receipts: 472,473 tons, an increase of 8,339 tons from the previous trading day; 6. Pulp warehouse futures warehouse receipts: 207,875 tons, an increase of 1,828 tons from the previous trading day; 7. Pulp mill warehouse futures warehouse receipts: 20,000 tons, an increase of 5,000 tons from the previous trading day; 8. Gold futures warehouse receipts: 110,673 kg, unchanged from the previous trading day; 9. Zinc futures warehouse receipts totaled 103,780 tons, a decrease of 909 tons from the previous trading day; 10. Petroleum asphalt plant warehouse futures warehouse receipts totaled 31,220 tons, unchanged from the previous trading day; 11. Petroleum asphalt warehouse futures warehouse receipts totaled 24,200 tons, unchanged from the previous trading day; 12. Copper futures warehouse receipts totaled 97,011 tons, an increase of 4,147 tons from the previous trading day; 13. Silver futures warehouse receipts totaled 876,996 kg, an increase of 8,829 kg from the previous trading day; 14. Low-sulfur fuel oil warehouse futures warehouse receipts totaled 7,040 tons, unchanged from the previous trading day; 15. Stainless steel warehouse futures warehouse receipts totaled 70,233 tons, an increase of 2,346 tons from the previous trading day; 16. TSR20 rubber futures warehouse receipts totaled 35,583 tons, unchanged from the previous trading day; 17. Rebar futures warehouse receipts totaled 94,771 tons, unchanged from the previous trading day; 18. Alumina futures warehouse receipts totaled 511,825 tons, a decrease of 1,518 tons from the previous trading day; 19. Tin futures warehouse receipts totaled 9,022 tons, a decrease of 114 tons from the previous trading day; 20. Medium-sulfur crude oil futures warehouse receipts totaled 3,511,000 barrels, unchanged from the previous trading day; 21. Hot-rolled coil futures warehouse receipts totaled 619,866 tons, a decrease of 3,542 tons from the previous trading day; 22. International copper futures warehouse receipts totaled 14,921 tons, unchanged from the previous trading day; 23. Butadiene rubber futures warehouse receipts totaled 33,200 tons, an increase of 1,770 tons from the previous trading day.

Turkish central bank governor: The primary task is to reduce the inflation rate to single digits, with a medium-term target of 5%.

Turkish Central Bank Deputy Governor: Confidence in the lira remains, and the policy stance supports lira assets.

South Korean President Lee Jae-myung: Normalizing agricultural cooperatives is crucial; governance structures must be improved and democratic oversight strengthened.

According to Saudi media outlet alhadath, sources familiar with the matter revealed that Washington will not demand that the Israeli government implement a comprehensive ceasefire in Lebanon.

The Hang Seng Index closed up 0.6 points, or 0.0%, at 26,389.04 on Thursday, May 14; the Hang Seng Tech Index closed down 17.65 points, or 0.35%, at 5,076.2; the H-share Index closed down 17.75 points, or 0.2%, at 8,858.63; and the Red Chip Index closed down 40.12 points, or 0.87%, at 4,574.03.

The Indian Ministry of External Affairs stated that all Indian crew members on board the ship are safe following the attack.

On May 14th, ING analyst James Smith stated in a report that the UK's strong first-quarter economic growth data is unlikely to change the Bank of England's policy expectations. He said, "We expect the Bank of England to raise interest rates in a one-off move in June." He noted that since 2022, UK economic growth has tended to be stronger at the beginning of the year, meaning that UK economic growth may slow in the coming quarters. However, robust retail spending and a strong contribution from the IT sector may indicate positive developments in artificial intelligence. Smith predicts that the UK's second-quarter economic growth rate may be around 0.2%-0.3%, but with declining real income and rising inflation, the third-quarter growth rate may turn negative.

Futures News, May 14th: Enterprise Singapore (ESG) reported that as of the week ending May 13th, Singapore's middle distillate fuel inventories rose by 279,000 barrels to a two-week high of 10.356 million barrels.

Futures News, May 14th: Enterprise Singapore (ESG) reported that Singapore's light distillate fuel inventories rose by 53,000 barrels to a two-week high of 14.929 million barrels in the week ending May 13th.

On May 14th, Barclays economists pointed out that the stance of members of the Bank of Japan's (BOJ) Policy Board is showing signs of a hawkish shift; Yoichi Masaki, a member of the Board of Directors considered a centrist, expressed clearer support for an earlier rate hike in his speech on Thursday. At the BOJ's policy meeting in April, three other members proposed raising the interest rate to 1.0%, although the proposal ultimately failed to pass due to a majority vote against it. "Given that the BOJ seems firmly committed to an earlier rate hike, we maintain our previous forecast of a June rate hike," the economists said. They added that the key now is whether Japanese Prime Minister Sanae Takaichi will tolerate the BOJ implementing a rate hike.

According to Interfax news agency, Sergei Shoigu, Secretary of the Russian Security Council, stated that Russia is establishing comprehensive cooperative relations with the Taliban in the economic and trade fields.