Market data as of June 3rd shows the Shanghai Composite Index rose 0.22% to close at 4083.97 points, while the Shenzhen Component Index gained 0.73% to finish at 15704.71 points. The ChiNext Index climbed 1.65%, closing at 4122.99 points.
In the US, the three major stock indices saw significant declines on June 3rd. The Dow Jones Industrial Average dropped 620.72 points, or 1.21%, closing at 50687.07 points. The S&P 500 index fell 56.10 points, or 0.74%, to end at 7553.68 points. The Nasdaq Composite Index decreased by 239.92 points, or 0.89%, finishing at 26853.98 points.
International oil prices increased on June 3rd. The July delivery light sweet crude oil futures contract on the New York Mercantile Exchange rose by $2.26 to settle at $96.02 per barrel, a gain of 2.41%. The August delivery Brent crude oil futures contract on the ICE Futures Europe exchange increased by $1.81 to close at $97.81 per barrel, up 1.89%.
Key Financial Developments
The People's Bank of China announced on June 3rd that, based on the demand from primary dealers in the open market, the volume of its 7-day reverse repurchase operation for June 3rd, 2026 was zero. The last time the central bank announced a zero volume for such operations was on August 7th, 2024.
China's A-share market was featured again on the national evening news broadcast. The segment, which aired on June 3rd and lasted approximately one minute and 49 seconds, highlighted that long-term foreign capital remains optimistic about China and is continuing to increase investment in hard technology sectors. The report noted that several international financial institutions have recently issued positive outlooks on the Chinese economy, raising their investment allocations in Chinese technology firms and accelerating their investment layout in China. So far this year, foreign capital has steadily flowed in through various channels. To date, various types of overseas investors hold over 4 trillion yuan in A-share market capitalization, making them significant participants in China's capital markets.
The National Radio and Television Administration has launched a two-month special campaign to address harmful, vulgar content and copyright infringement issues in short-form online dramas. The campaign will focus on regulating eight key problem areas, including content harmful to children, soft pornography, displays of wealth, distorted views on marriage, feudalistic dross, violent revenge themes, vulgar titles, and copyright infringement, aiming to foster a healthier development environment for the industry.
The State Administration for Market Regulation recently conducted a special inspection of online catering services. The inspection covered seven major categories of food sold online, including main dishes, snacks, staples, beverages, desserts, barbecue, and hotpot, conducting a full-chain risk assessment. The inspection was carried out both online across 14 platforms and offline in 24 major cities, involving 875 catering delivery units. Out of 1,307 batches sampled, the failure rate was 2.3%, indicating an overall good safety status for online catering. No issues were detected in categories like self-made fried meats, pastries, and cold dishes.
In response to a question about an OECD report suggesting Chinese industrial subsidies have contributed significantly to global market share gains and distorted competition, a Chinese Foreign Ministry spokesperson stated that the competitiveness of Chinese enterprises stems from highly market-driven competition, continuous technological innovation, global corporate strategies, and the advantages of a massive domestic market, not from subsidies. The spokesperson emphasized that China's industrial subsidy policies adhere to principles of openness, fairness, and compliance with WTO rules, and noted that such policies are commonly used worldwide, with the key being compliance with international trade regulations.
FTSE Russell, the international index provider, announced its quarterly index review results on June 3rd. The changes affect several indices, including the FTSE China 50 and FTSE China A50 indices.
For the FTSE China A50 index, five new constituents were added: Gigadevice Semiconductor Inc. (603986.SH), Montage Technology Co.,Ltd. (688008.SH), Suzhou Dongshan Precision Manufacturing Co.,Ltd. (002384.SZ), Victory Giant Technology(Huizhou) Co.,Ltd. (300476.SZ), and Weichai Power Co.,Ltd. (000338.SZ). Five stocks were removed: China State Construction Engineering Corporation Limited (601668.SH), Foshan Haitian Flavouring And Food Company Ltd. (603288.SH), Haier Smart Home Co.,Ltd. (600690.SH), Ping An Bank Co.,Ltd. (000001.SZ), and Shenzhen Mindray Bio-Medical Electronics Co.,Ltd. (300760.SZ). For the FTSE China 50 index, Gigadevice Semiconductor Inc. and Changfei Optical Fiber Cable were added, while China Tower and CRRC were removed. These changes will take effect after the close of trading on Thursday, June 18th.
The 12th China (Shanghai) International Technology Fair is scheduled to be held in Shanghai from June 11th to 13th. The international exhibition area will feature 26 overseas trade promotion agencies and chambers of commerce from countries including Germany and France, organizing 74 companies to showcase innovations in robotics, precision manufacturing, and digital solutions, and to release over 80 technology cooperation demands. The fair will feature 15 debut projects.
The Doubao AI platform announced plans to launch a professional version tailored for productivity needs in fields such as software development, data analysis, professional design, process automation, financial analysis, and scientific research. Core functions for general users, including search, Q&A, writing, image generation, and voice/video conversations, will remain free. The professional version will also offer a certain amount of free usage.
According to the domestic refined oil product pricing schedule, the next price adjustment window is set for 24:00 on Thursday, June 4th. Based on tracking data of recent international crude oil price movements, the predicted retail price cut exceeds the 50 yuan per ton adjustment threshold, indicating a likely reduction in retail fuel prices this cycle.
Following an initial disclosure of a 5% stake in Pop Mart International Group Limited (09992.HK) on May 27th, well-known investor Duan Yongping has increased his holdings. A filing with the Hong Kong Exchange on June 3rd shows Duan purchased an additional 4.66 million ordinary shares of the company on May 28th, 2026, for a total consideration of approximately HK$757 million. Following this purchase, his stake in the company increased from 5.69% to 6.04%, representing about 81.03 million shares.
Shenzhen Infogem Technologies Co.,Ltd. (300085.SZ) issued a clarification announcement on June 3rd. The company stated that after noticing online rumors about it "being under investigation," it verified that such claims are untrue. The company confirmed it has not received any notification or legal document from authorities regarding an investigation, its production and operations are normal, business is proceeding orderly, and there are no undisclosed material events. The company's stock closed at 35.13 yuan on June 3rd, down 15.51%, with its market capitalization falling by 4.56 billion yuan from the previous day to 24.8 billion yuan.
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