June 3, Tuesday

High-Level Insights:
The National Bureau of Statistics released data showing that China's Manufacturing PMI for May was 49.5%, up 0.5 percentage points from the previous month.

Overall Sentiment:
On Friday, Trump stated he would reconsider trade negotiations with China, indicating that details from the previous Switzerland talks have not been implemented, and the U.S. is growing impatient. Over the weekend, there was no significant response from our side.
On Monday, Hong Kong stocks opened down as much as 2% but were gradually pulled up by capital inflows. The trading pattern suggests it was not the work of state-backed funds.
Trump's erratic policy shifts are losing their impact, as markets are no longer reacting strongly to his sudden aggressive moves.