Global equities rose this week with Wall Street leading gains, the ECB cutting rates, and investor focus on economic data and trade tensions. Here’s a summary of the key developments from June 2 to 7, 2025.

Xiaohongshu, also known as Little Red Book, is preparing for a highly anticipated IPO in Hong Kong that could raise over $500 million. The platform’s unique blend of lifestyle content and e-commerce has made it a household name in China—and now it's eyeing global capital markets.

The US and China have agreed to temporarily cut tariffs, easing tensions and paving the way for further trade negotiations.

China's central bank, the PBOC, cuts rates and reserve requirements in May 2025 to support growth amid trade tensions and weak domestic demand.

The U.S.–China trade war escalates in 2025 with higher tariffs and economic retaliation, disrupting global markets and supply chains. Stay updated on key developments and impacts on Asia.

Get the latest update on the 2025 U.S.–China trade war, including new tariffs, impacted industries, political moves, and economic effects.

Discover how U.S. tariffs and China's dark factories are reshaping ASEAN's economy, driving job shifts, and attracting major Chinese investments.

HSBC CEO Georges Elhedery joins global leaders in pivotal talks with Xi Jinping as China counters trade war pressures and fosters cooperatio

Xiaomi's FY2024 revenue hit RMB 365.9B (+35% YoY), with strong growth in smartphones, AIoT, and EVs. Net profit surged 41.3% YoY to RMB 27.2

This week, global markets faced significant volatility as escalating trade tensions, particularly between the U.S. and its trading partners.