China Extends Visa-Free Policy for Russia Through 2027; S&P 500 Futures Rally Ahead of US Market Open

On May 20, China's Foreign Ministry announced it will extend its visa-free entry policy for Russian citizens through December 31, 2027, according to official statement. The decision followed high-level talks between Chinese and Russian officials, with China and the U.S. also agreeing to pursue economic and trade cooperation.

Ahead of Wednesday's U.S. market open, S&P 500 futures rose alongside semiconductor stocks, while long-dated U.S. Treasury yields remained elevated. Spot silver gained 2% intraday; crude oil fell 3%; nickel futures climbed 5%. In overnight Asian trading, Japan's 10-year government bond auction showed unexpectedly strong demand, driving yields down more than 10 basis points.