Ivey PMI s.a for May in Canada is 58.2, higher than the previous value of 57.7. The forecast was 55.~



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Non Farm Payrolls for May in the United States is 172K, lower than the previous value of 179K. The forecast was 85K.~



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Unemployment Rate for May in Canada is 6.6%, lower than the previous value of 6.9%. The forecast was 6.9%.~



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Unemployment Rate for May in the United States is 4.3%, unchanged from its last period. The forecast was 4.3%.~



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Philippine fast-food chain Jollibee is contemplating to shift the potential spin-off and listing venue of its international business from the US to Hong Kong, Bloomberg reported, citing people with the knowledge of the matter.

Jollibee has been rapidly expanding its overseas operations, wrestling with McDonald's Corporation (MCD.US) and Yum! Brands, Inc. (YUM.US).

The company is working with advisers with an aim to complete the listing as early as before the end of next year, people with the knowledge of the matter said.

They added that the deliberations remain at a preliminary stage and the plans may still change.

Jollibee’s Manila-listed shares have contracted by about 25% so far this year, reducing its market cap to approximately USD2.5 billion.

The group currently operates 24 outlets in Hong Kong, where it has strong appeal among the local Filipino community. The group also operates the dim sum chain Tim Ho Wan.
~

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Hon Hai Precision Industry reported that its May revenue increased 39.57% YoY to TWD859.4 billion, marking the highest level for the same period on record.

Calculated in USD terms, revenue rose 38.5% YoY. For the first five months of this year, revenue grew 31.79% YoY to TWD3.8211 trillion, also a record high for the same period.
~

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Spot USD/CNY added 56 bps to close at 6.7712 today (5th). As of 4:42 pm, USD/CNY in the night session lifted 39 bps. USD/CNH grew 33 bps to 6.7701, 11 bps above USD/CNY.
~

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Inflation Rate YoY for May in Taiwan is 2.20%, higher than the previous value of 1.74%.~



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Inflation Rate YoY for May in Turkey is 32.61%, higher than the previous value of 32.37%. The forecast was 32.5%.~



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JD-SW (09618.HK) held its 618 Hong Kong launch event. The company stated that its aggregate investment in Hong Kong breached HKD35 billion, having established a comprehensive presence in core businesses in Hong Kong, covering retail, logistics, technology, healthcare and industrial development, providing Hong Kong consumers with both online and offline products and services that are high quality and affordable.

JD-SW also announced a three-year plan to collaborate with 1,000 leading brands in Hong Kong to establish more than 200 offline stores, which is anticipated to create more than 10,000 jobs and further deepen the Group's business ecosystem in the city.
~

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At the Tencent Cloud AI Industry Application Conference held today (5th), Dowson Tong, Senior Executive Vice President of TENCENT (00700.HK), engaged in a dialogue with Yao Shunyu, Chief AI Scientist.

Regarding the second half of AI development, Yao stated that AI is a long-term endeavor and, in a sense, the second half has only just begun. He does not believe that ChatGPT and Claude Code will be the only Super Apps, confident that new opportunities will continue to emerge.
~

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The US economy may be growing, but that does not mean it is in a healthy state, as growth remains below its potential level, Moody’s Chief Economist Mark Zandi said. Unless growth accelerates, the unemployment rate will rise and labor force participation will decline, ultimately undermining economic expansion.

He added that a weak labor market is suppressing wage growth. As inflation accelerates, real wage growth has nearly stalled. More concerning, however, is that the Federal Reserve may be unable to cut interest rates to stimulate the economy and support job growth. Tariffs and the Iran war have pushed the inflation rate close to 4%. If inflation expectations continue to rise, the Federal Reserve may raise interest rates even if it results in a full-scale recession.
~

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Halifax House Price Index YoY for May in the United Kingdom is 0.5%, higher than the previous value of 0.4%. The forecast was 1%.~



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Tencent Cloud AI Industry Application Conference was held today (5th), where TENCENT (00700.HK) Senior Executive Vice President Dowson Tong held a dialogue with TENCENT Chief AI Scientist Yao Shunyu.

At the event, Tong responded directly to market comments such as "Tencent AI has been slow". He said TENCENT is a company with highly diversified business lines, with many products operating across different tracks, and numerous teams advancing various projects and initiatives.

Therefore, in such a complex organization, some areas may move faster, some slower, and some projects may fail or remain exploratory. He acknowledged that there are indeed areas where TENCENT can improve, but emphasized that this is a long-distance race, a marathon.

He believed TENCENT has very rich application scenarios and diverse products across different tracks, each capable of providing useful information to models and generating value. In this long-term race, he expressed confidence that models will continue to iterate, user demands will keep evolving, and new product formats will emerge.
~

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The 2026 Tencent Cloud AI Industry Application Conference was held in Beijing, where TENCENT (00700.HK) officially unveiled its "Efficiency Agent Toolkit" for the first time. The toolkit targets three major categories of needs - personal efficiency improvement, office efficiency improvement, and enterprise efficiency improvement - offering differentiated agent solutions across more than 20 vertical scenarios.

For individual users, the local AI assistant QClaw pioneered a "WeChat Direct Connect" model and integrates with Tencent Docs, Tencent Meeting, ima, and QQ Mail. The personal knowledge agent ima supports the creation of dedicated agents and continuously understands users through its memory system.

Targeting professionals such as white-collar workers, developers, OPC personnel, and designers, Tencent introduced the "Buddy" product family to address high-frequency productivity scenarios including code development, document processing, and creative design.

For enterprise users, Tencent also officially launched WorkBuddy Enterprise and the office agent suite Agent Suite, while upgrading the enterprise agent governance platform ClawPro and the agent development platform ADP 4.0.
~

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NVIDIA Corporation (NVDA.US) Founder and CEO Jensen Huang will visit South Korea today (5th) and meet with the heads of several major South Korean enterprises, Yonhap News Agency reported, citing NVIDIA and industry sources. This marks his first trip to South Korea in seven months since his last visit in late October last year.

Huang is purportedly expected to enter the country via Gimpo Airport at around 1 p.m. local time and attend a dinner this evening with leaders of major South Korean conglomerates.

Attendees are set to include SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Euisun Chung, LG Group Chairman Koo Kwang-mo, and NAVER Board Chairman Lee Hae-jin.
~

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South Korea’s Minister of Employment and Labor Kim Young-hoon called on major technology companies to consider sharing their massive profits with suppliers, contractors and their employees, warning that unprecedented gains driven by the AI boom could exacerbate inequality.

He said the South Korean government, corporations, labor unions and suppliers should engage in open dialogue on how to distribute these excess profits and narrow the gap between large corporations and smaller suppliers.
~

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The majority of TENCENT (00700.HK)'s code this year has been generated by AI, and TENCENT engineers may spend more time on architectural design, delegating coding tasks to AI while regularly guiding and refining AI-generated output, according to a dialogue at the Tencent Cloud AI Industry Application Conference held today (5th) between Dowson Tong, Senior Executive Vice President of TENCENT, and Yao Shunyu, Chief AI Scientist of TENCENT.

Addressing the industry's strong focus on AI cost optimization, Yao stated that cost-effectiveness primarily depends on performance. If performance is inadequate, cost-effectiveness will be weak. Secondly comes cost, and he noted that China is already leading the world in AI cost optimization.

He added that one of the most important factors in cost control is how to use smaller models to accomplish higher-value tasks effectively. On this basis, further architectural innovation and other improvements are still required.
~

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Amundi, Europe’s largest asset manager, said that the rally in Asian equities driven by the AI boom will still have further room to run, unless a shift in US interest-rate expectations rattles the hyper-scalers underpinning the investment cycle.

Shares of South Korean and Taiwanese technology companies such as Samsung Electronics and SK Hynix have repeatedly hit record highs, Amundi noted. However, it did not yet see signs of a bubble, as earnings expectations for these companies are very high, suggesting that current valuations may remain at reasonable levels.

These valuations are unlikely to hinder the upward momentum of Asian semiconductor, hardware, and supply chain companies. AI infrastructure spending is projected to reach USD5 trillion by 2030, and hardware suppliers supporting these networks still have substantial upside.

South Korea’s KOSPI has proliferated nearly 100% YTD, while gains in stocks such as SK Hynix and Samsung Electronics have been even more striking. Amundi believed the investment outlook remains highly dependent on interest rate changes by the Federal Reserve.
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China Foreign Exchange Trade System (CFETS) announced on Friday (5th) that the central parity of USD/ RMB added 46 bps from the previous day to 6.8157.
~

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