Markets concluded their trading sessions on June 2nd. The Shanghai Composite Index rose 0.43% to close at 4075.1 points. The Shenzhen Component Index gained 1.63%, finishing at 15591.13 points. The ChiNext Index advanced 2.66%, closing at 4055.87 points.

In the United States, the three major stock indices closed higher. The Dow Jones Industrial Average increased by 228.91 points, or 0.45%, to settle at 51307.79. The S&P 500 index rose 9.82 points, or 0.13%, to 7609.78. The Nasdaq Composite Index edged up 7.09 points, or 0.03%, to 27093.90.

International oil prices also moved higher. The July contract for West Texas Intermediate crude oil on the New York Mercantile Exchange increased by $1.60 to settle at $93.76 per barrel, a gain of 1.74%. The August contract for Brent crude on the London ICE Futures exchange rose by $1.02 to close at $96.00 per barrel, up 1.07%.

Key Financial Developments

The State Council has issued the "Plan for Accelerating Agricultural and Rural Modernization in the 15th Five-Year Plan Period." The document outlines the strategic objectives, key tasks, and policy measures for this period, emphasizing that accelerating modernization in these sectors is crucial for advancing Chinese modernization. The Plan sets targets for 2030, including strengthening food security, improving agricultural quality and competitiveness, consolidating poverty alleviation achievements, significantly boosting self-reliance in agricultural science and technology, making important progress in building agriculture into a modernized major industry, ensuring sustained and rapid growth in farmers' incomes, accelerating the construction of livable, business-friendly, and beautiful villages, achieving new breakthroughs in integrated urban-rural development, and attaining notable results in high-quality agricultural and rural development. The Plan also provides a vision for 2035.

On June 2nd, Zheng Shanjie, Chairman of the National Development and Reform Commission, chaired a symposium with state-owned enterprises. Representatives from seven companies, including China COSCO Shipping Group, China Coal Technology & Engineering Group, and China Resources Recycling Group, participated. The discussions focused on deepening reform of state-owned assets and enterprises, comprehensively promoting the development of a unified national market, fostering green and low-carbon development, and ensuring energy security, among other major national strategies. The meeting aimed to gather insights and suggestions from the enterprises.

The Ministry of Finance has allocated 99.9 billion yuan in childcare subsidy funds for 2026, a year-on-year increase of 10.6%, to support local governments in providing subsidies to eligible families with infants and young children. Total fiscal subsidies from all levels of government are expected to reach approximately 110 billion yuan for the full year.

Data from the Shanghai Stock Exchange shows that 2.7653 million new A-share accounts were opened in May 2026, while 218,300 new fund accounts were opened during the same month.

Shanghai's financial authorities held a press conference on the afternoon of June 2nd to release and interpret the "Several Opinions on Deepening the Construction of Shanghai as a Global Asset Management Center." Zhou Xiaoquan, Executive Deputy Director of the Shanghai Municipal Financial Work Office, stated the goal is for Shanghai's asset management scale to reach 55 trillion yuan by 2030, accounting for one-third of the national total. The aim is to solidify Shanghai's position as a comprehensive, open asset management hub, making it a new landmark among global asset management centers, achieving new heights in high-level two-way opening, setting new benchmarks for high-quality institutional development, and enriching the connotation of a global asset management center through the dual drivers of asset and wealth management.

According to a recent announcement, the Beijing Space Intelligence Computing Research Institute has been established in the Beijing Economic-Technological Development Area. The institute will focus on key technological challenges in areas such as spaceborne computing chips, inter-satellite laser communication, space energy and thermal management, and integrated space-ground networks. It plans to establish a full-chain service system covering R&D, pilot testing, in-orbit verification, and commercialization. The institute aims to complete the development and launch of its first experimental satellite before 2028, with future plans for a multi-satellite network to trial an "Integrated Space-Ground Intelligence Computing Network," providing efficient, stable, and secure computing services.

The Shanghai Stock Exchange disclosed that the review status for the STAR Market IPO of Unitree Robotics Co., Ltd. has been updated to "registration submitted."

Tiger Brokers announced adjustments to its services for existing investor accounts within mainland China, citing compliance with regulatory requirements during a two-year industry rectification period. Starting June 12, 2026, Beijing time, the platform will suspend opening new positions or adding to existing positions for all securities, allowing only sell or close-out orders for domestic trading services. For domestic fund transfers, deposits will be suspended while withdrawals will remain functional to ensure client asset safety. The company stated these adjustments do not affect services provided to existing investors outside mainland China or the safety of client assets.

AI company Anthropic announced it has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission, formally initiating its IPO preparation process. Under SEC rules, this confidential submission allows for review and communication with regulators before public financial disclosure. Anthropic noted that following the SEC's review completion, the company may proceed with the listing, with the specific timing and fundraising scale dependent on market conditions and other external factors.

Iranian media reported that the application system for vessel transit permits through the Strait of Hormuz is now fully operational, allowing global shipowners and captains to submit applications 24/7. Applications can be submitted via an electronic system, and approved vessels will receive transit permits.