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Golden Ten Data reported on May 21 that China National Fisheries Corporation stated during a special investor survey that geopolitical tensions do indeed transmit through international oil prices, putting periodic upward pressure on fuel costs in the industry. Fuel costs account for about 30% of the company's fishing costs, a relatively high proportion. As of now, the average purchase price of fuel for the company's production and operations has risen by 7% compared to the same period last year, resulting in a corresponding increase in fuel costs. However, the company has a dual hedging capability with its own fuel supply fleet and offshore refueling services, which can effectively offset part of the impact from rising oil prices, making the overall risk manageable.

(1) Indian Minister of Commerce and Industry Piyush Goyal stated that despite escalating geopolitical tensions in the Middle East, India remains an attractive investment destination and advocates strengthening economic cooperation with the United States to build resilient supply chains. He pointed out that the current global environment provides an "excellent opportunity" for the two countries to deepen economic collaboration in manufacturing and innovation-led sectors.(2) Goyal said, "India can provide scaled support for US innovation," and revealed that in the past six months, investments by the US industrial sector in India have exceeded $60 billion. At the same time, he ruled out the possibility of taking immediate action to restrict imports of non-essential goods, even though the rupee faces pressure against the dollar and crude oil prices remain high due to ongoing Middle Eastern conflicts. He stated, "There are no plans to reduce imports of non-essential goods."(3) Regarding the recent fluctuations of the rupee, Goyal indicated that the government is closely monitoring developments, with departments working in coordination and considering several measures, but he did not disclose specifics. He concluded by saying that "the global situation is quite severe," with uncertainties arising from geopolitical tensions and turmoil in international markets.

Golden Ten Data reported on May 21 that the British pound fell, with GBP/USD once retreating to around 1.3431, due to the UK services PMI coming in much lower than expected. Data shows that the preliminary UK services PMI for May registered only 47.9, a sharp decline from April's 52.7. The weaker-than-expected PMI data has further strengthened the market's expectation that the Bank of England will keep interest rates unchanged in June.