Daily brief
China’s factory inflation hit a post-Covid high in April after a cost shock, with factory-gate price growth beating expectations as the Middle East war fuels inflation. China’s overall inflation also rose sharply in April. The country fixed its currency at a three-year high ahead of the upcoming Trump-Xi meeting.
Asian markets were mixed, with Japan down and China up.
China launched the Tianzhou-10 cargo spacecraft, which later docked with the Tiangong space station.
US industry and lawmakers pleaded with Trump not to open the door to Chinese cars at the Xi summit.
A Chinese refiner reported strong platinum demand from a new contract, while China’s private refiners sought Beijing’s approval to cut run rates.
by WorldBrief & Maksim Micheliov | AI-generated summary