GMT EIGHT - OPPORTUNITIES IN CHINA

The Dow Jones Industrial Average fell 1.3% at the opening, the S&P 500 fell 1.2%, and the Nasdaq fell 1.7%.

The storage chip sector led the decline, with SanDisk down 6.7%, Micron Technology down 6.3%, and Western Digital down 4.7%. High oil prices dragged down airline stocks, with Delta Air Lines, United Airlines, Southwest Airlines, and Alaska Airlines all falling about 4%. Satellite operator Globalstar rose 13.5%, as it discussed acquisition matters with CNOOC and Amazon. Dow Inc. rose 3.9%, as global chemical product prices entered an upward cycle. Immunovant fell 8.4%, as two late-stage studies of its baricitinib monoclonal antibody therapy for thyroid eye disease failed.

Tesla's Q1 deliveries fell short of expectations, putting pressure on its traditional business.

Tesla announced one of its worst quarterly sales performances in recent years today, failing to meet Wall Street expectations. The company is facing challenges in transitioning its core business, with difficulties in the electric vehicle market. The company stated on Thursday that global deliveries in the first quarter were 358,023 vehicles, while analysts had expected a median of 372,160 vehicles. This forecast has been continuously revised downwards in the past few weeks. This is the second consecutive quarter that Tesla has failed to meet expectations. Most investors are willing to overlook Tesla's sales trends as CEO Elon Musk shifts focus to future business lines such as artificial intelligence, autonomous driving, and robotics. However, the traditional automotive business remains Tesla's main source of cash flow. Following the release of delivery data, Tesla's stock fell 4% in pre-market trading, and as of Wednesday's close, the stock price has dropped 15% this year, down 22% from its historical high in December.

Tesla's stock price fell 3.2% in pre-market trading, as first quarter deliveries fell short of expectations.

State Grid's fixed asset investment in the first quarter was nearly 130 billion yuan.

Information released by State Grid on the 2nd shows that the company completed nearly 130 billion yuan in fixed asset investment in the first quarter, an increase of about 37% year-on-year, driving investment in the upstream and downstream industries exceeding 250 billion yuan.

The People's Bank of China has added 12 new digital renminbi operational agencies.

The People's Bank of China has added China CITIC Bank, China Everbright Bank, Huaxia Bank, China Minsheng Bank, Guangfa Bank, Shanghai Pudong Development Bank, Zhejiang Commercial Bank, Ningbo Bank, Jiangsu Bank, Bank of Beijing, Bank of Nanjing, and Suzhou Bank as operators of digital RMB business, and they have been connected to the digital RMB system of the central bank. These new institutions will conduct digital RMB business after completing business and technical preparations.

The central bank conducted a net injection of 50 billion yuan in the open market in March through buying and selling government bonds.

The central bank announced the liquidity injection situation of various tools in March 2026, with a net injection of 50 billion yuan under the medium-term lending facility. In terms of open market operations, the net withdrawal of 7-day reverse repurchase agreements was 890.3 billion yuan, and the net injection of government bond transactions was 50 billion yuan.

Ministry of Industry and Information Technology: Encouraging the establishment of dedicated computing power pools for small and medium-sized enterprises.

The General Office of the Ministry of Industry and Information Technology has issued a notice on launching a special action to empower small and medium-sized enterprises through inclusive computing power. It points out the need to optimize the deployment of computing power resources. It guides various entities such as basic telecommunications enterprises and computing power service enterprises to build and deploy edge computing facilities such as edge data centers and integrated training and promotion machines according to the needs of the national public service demonstration platform for small and medium-sized enterprises, city pilot projects for the digital transformation of small and medium-sized enterprises, characteristic industry clusters of small and medium-sized enterprises, and innovative industry clusters, providing computing power support that is easily accessible and rapidly responsive. It encourages the establishment of dedicated computing power pools for small and medium-sized enterprises, promotes standardized interface protocols, supports flexible access by computing power service enterprises, and provides inclusive and convenient computing power resources for small and medium-sized enterprises. It promotes the integration of local idle and dispersed computing power, pools and integrates computing power resources through platforms such as the Chinese computing power platform, and supports small and medium-sized enterprises in obtaining inclusive computing power resources as needed.

AI cannot overthrow F1! When AI anxiety and Middle East war shake the market, Liberty Formula One (FWONK.US) displays the "HALO premium" to its fullest.

Analysts from Bank of America also pointed out that there is almost no possibility of the owners of the Formula One racing series being replaced by artificial intelligence, a halo that matches the extremely hot HALO investment theme in the current market.

According to the International News Agency, Russia has implemented a ban on gasoline exports to manufacturers until the end of July.

Spot silver lost the 71 dollar per ounce mark, dropping 5.53% within the day.

Spot gold fell below $4650 per ounce, dropping 2.37% within the day.

The MSCI Asia Pacific Index fell 2% to 232.61 points.

Trump's toughest words to overturn market expectations! Risk assets that just staged a big comeback were hit hard again, with oil and the dollar dancing once more.

President Trump's national address on "issuing important updates on the Iran issue" is essentially a speech that claims strategic objectives are nearing completion, but refuses to provide a clear path to withdrawal, and leans towards further escalating tensions in the Middle East geopolitical landscape.

SK Hynix leveraged ETF raked in $1.6 billion in the first quarter, becoming the world's most attractive single stock leveraged ETF.

SK Hynix leveraged ETF had a remarkable performance in the first quarter of 2026, with its global fund inflow surpassing related products of Tesla and Microsoft.

The trading volume of the Shanghai and Shenzhen stock markets exceeded 1 trillion yuan, a decrease of 133.9 billion yuan from the previous day at this time.

The S&P 500 stock index futures fell to a 1.1% decline, while Nasdaq futures dropped by 1.3%.

Trump claimed victory himself.

On April 1st local time, President Trump of the United States spoke at the White House in the capital, Washington, claiming himself to have achieved a "rapid, decisive, overwhelming victory" in the conflict with Iran.

Gold price soared close to $4800: when the "war risk" retreats, can the fear of recession ignite a second peak in gold?

Due to traders betting that the Fed may need to cut interest rates to address a possible economic recession, the price of gold has risen for the fourth consecutive trading day.

Spot gold surged past $4770 per ounce, up 0.24% intraday.

France plans to convene multiple countries to discuss the situation in the Strait of Hormuz.

French Navy Chief of Staff Nicolas Vujo said on the 1st that France is working to convene multiple countries "at the political level" to discuss how to reopen the Strait of Hormuz in a "sustainable manner." Vujo stated at the "War and Peace" forum held in Paris that in addition to the political level, this action will also "supervise the reopening of the Strait of Hormuz" at the military level. French Minister of Defense representative Alice Lefevre stated at the forum that NATO's role is not suitable for conducting military operations in the Strait of Hormuz.

The three major indexes of US stocks closed higher.

U.S. stocks closed higher, with the Dow up 0.52%, the Nasdaq up 1.11%, and the S&P 500 up 0.71%. Large-cap tech stocks rose across the board, with Micron and Intel up over 8%, AMD up over 3%, Google and Tesla up over 2%, Meta, Amazon, and Broadcom up over 1%, and Nvidia and Apple slightly higher. Oracle fell more than 1%, while Microsoft closed slightly lower.

SpaceX has secretly submitted an IPO application and plans to go public ahead of its AI competitors.

According to informed sources, the space exploration technology company has secretly submitted its initial public offering (IPO) application, bringing Elon Musk's company one step closer to completing the largest IPO in history. The sources said that the company has filed an IPO registration statement with the U.S. Securities and Exchange Commission, with a potential valuation for the IPO exceeding $1.75 trillion. SpaceX's IPO could raise up to $75 billion, and the company is considering using a dual-class share structure at the time of listing, which could give Musk and other insiders additional voting rights to control company decisions.

In February, the retail sales month-on-month rate in the United States was 0.6%, exceeding the expected 0.5%. The previous value was revised from -0.2% to -0.1%.

Qianli Technology is expected to have a Hong Kong stock IPO in Q2, with plans to raise 1 billion US dollars.

It is reported that Qianli Technology, a technology company positioning itself in the field of "AI + cars", is expected to go public on the Hong Kong Stock Exchange in the second quarter of this year, planning to raise 1 billion US dollars. "It has progressed to the inquiry stage, and if all goes well, the next step will be to start the roadshow stage," said an informed source.

Southbound funds sold a net of 12.694 billion yuan today. In terms of Stock Connect (Shanghai), Yingfu Fund and CNOOC respectively had net sales of 2.628 billion Hong Kong dollars and 1.195 billion Hong Kong dollars; Tencent Holdings had the highest net purchase amount of 683 million Hong Kong dollars. In terms of Stock Connect (Shenzhen), CNOOC and Meituan-W had net sales of 1.686 billion Hong Kong dollars and 493 million Hong Kong dollars respectively; Tencent Holdings had the highest net purchase amount of 380 million Hong Kong dollars.

Tesla officially stops production of Model S and Model X.

On April 1st, Musk posted on X platform, announcing that Tesla officially ceased production of Model S and Model X. Currently, new custom orders are no longer accepted, and consumers can only purchase existing inventory cars. Previously, Musk stated that the production lines for Model S and Model X will be canceled to manufacture the Optimus humanoid robot at the Fremont factory. Data shows that by 2025, global deliveries of Model 3 and Model Y will reach 1.6 million units, while the total number of "other models" including Model S and Model X is only about 50,000 units. In addition, according to media reports, Musk also posted on social media that FSD 14.3 version is currently being tested among Tesla employees and is expected to be widely released to the public this weekend.

Eurozone unemployment rate in February was 6.2%, higher than the expected 6.1% but unchanged from the revised previous value of 6.1%.

Iran Foreign Minister: Received "private letter" from US President's special envoy, but does not mean negotiations.

Alaqqi said that Iran has never had a "pleasant experience" negotiating with the United States.

The US manipulates the "general license" to limit cooperation with China. The Ministry of Foreign Affairs: resolutely opposes.

On April 1st, Foreign Ministry spokesperson Mao Ning presided over a regular press conference. A reporter asked about recent reports that the U.S. Treasury Department issued a "General License" authorizing investment and operation contracts in the mining sector in Venezuela. The Department stated that this move will help the Venezuelan economy return to normal and benefit the people of the U.S. and Venezuela. The "General License" excludes China, Russia, North Korea, Cuba, and Iran. What is China's comment on this? Mao Ning stated that China firmly opposes the U.S. manipulating the so-called "General License" to limit cooperation between China and Venezuela. China's legitimate interests in Venezuela must be protected, and the U.S. should immediately lift its illegal unilateral sanctions on Venezuela instead of using the so-called "General License" to whitewash actions that harm the legitimate rights and interests of all parties, including Venezuela.

Alibaba Unified Model Wan2.7-Image for Image Generation and Editing Released

On April 1st, Alibaba's unified model for image generation and editing Wan2.7-Image was officially released. In response to the current pain points in AI-generated images such as aesthetic fatigue and color loss of control, Wan2.7-Image brings more "lifelike" character generation, precise color control, and the ability to render long texts accurately.

Canada's Minister of Finance, Sean Tan, will visit China.

According to an agreement between China and Canada, the Minister of Finance of Canada and the co-chair of the China-Canada Economic and Financial Strategic Dialogue, Sean Spear, will visit China from April 1 to April 4.

Musk: Version 14.3 of Full Self-Driving (FSD) software is now being tested among Tesla employees and is expected to be widely released to the public this weekend.

Ceasefire dawn ignites "Hallyu"! Leading the surge are the two giants in storage chips, causing the South Korean stock index to skyrocket nearly 10% and triggering a circuit breaker.

Chip manufacturers are driving the rebound of the South Korean stock market, as hopes of the Iran war nearing its end have reignited risk appetite.

The MSCI Asia Pacific index rose 5% to 237.81 points.

The Shanghai crude oil main contract fell 11% intraday, now trading at 666.10 yuan.

The Nikkei 225 index rose by 5.0% to 53629.69 points.

The shipping index European futures continuous main contract fell 10% intraday, now at 2180.10 points.

The Growth Enterprise Market Index rose by 2.00%, now at 3248.710 points; the Shanghai Composite Index rose by 1.56%, now at 3952.680 points; the Shenzhen Component Index rose by 1.81%, now at 13721.746 points.

The AI computing power craze does not only belong to the chip leader! Beating 99% of peers, fund managers are betting on small and medium-sized companies in the PCB, packaging board, and testing industry.

A fund focusing on small and medium-sized enterprises in the artificial intelligence (AI) supply chain in Taiwan, with a diversified investment strategy, has stood out and achieved outstanding performance in the past year amid industry volatility.

Midday Report: Shanghai Composite Index opened high with a 1.36% increase, with over 4300 individual stocks in the entire market also rising.

As of midday, the Shanghai Composite Index rose by 1.36%, the Shenzhen Component Index rose by 1.2%, the ChiNext Index rose by 1.18%, and the SSE 50 Index rose by 1.99%. The total market turnover was 1.336 trillion yuan, a decrease of 59 billion yuan compared to the previous day. In terms of sector themes, the pharmaceutical innovation, component, and photovoltaic equipment sectors performed well, while the rail transit equipment sector saw declines. On the market, the pharmaceutical innovation sector continued to strengthen, with Guangshengtang and Ruizhi Pharmaceuticals both hitting the daily limit up, and stocks such as Adi Pharmaceuticals and Chengda Pharmaceuticals rose by over 10%, with Beida Pharmaceuticals and Yibai Pharmaceuticals hitting the daily limit up. The component sector performed strongly, with Benchuan Intelligent, Jinsai Technology rising by over 10%, and Zhongjing Electronics hit the daily limit up. The photovoltaic equipment sector saw abnormal price increases, with Laplace 20CM hitting the daily limit up and Guosheng Technology hitting the daily limit up. The rail transit equipment sector opened high and then declined, with CRRC falling by over 8%, while Tongye Technology and Riyueming fell by over 7%.

Half a year spent on throwing $18 billion! NVIDIA's investment map reveals the trend of AI investment - optical interconnection and computing power rental.

In the past six months, NVIDIA (NVDA.US) has invested a total of at least $18 billion in strategic investments in publicly traded companies.

The Hang Seng Technology Index rose more than 3%, now at 4790.440 points; The Hang Seng Index is currently up 2.337%.

Brent crude oil rises above $105 per barrel, up 0.99% during the day.

Silver continuous main contract rose 6% intraday, now reported at 19105.00 yuan.

The financing balance of the two markets decreased by 8.58 billion yuan compared to the previous day.

As of March 31, the financing balance of the Shanghai Stock Exchange was 1,316.14 billion yuan, a decrease of 28.54 billion yuan compared to the previous trading day; the financing balance of the Shenzhen Stock Exchange was 1,265.23 billion yuan, a decrease of 53.04 billion yuan compared to the previous trading day; the total financing balance of the two exchanges was 2,5823.37 billion yuan, a decrease of 81.58 billion yuan compared to the previous trading day.

At the end of artificial intelligence is really electricity! Microsoft Corporation (MSFT.US) made a bold bet of 70 billion dollars, heralding the "self-powering age".

Microsoft is currently negotiating a $7 billion Texas power plant project with ExxonMobil and Engine No. 1. Microsoft is in exclusive talks with ExxonMobil and investment fund Engine No. 1 on a long-term agreement that involves building a massive energy complex in western Texas to provide power for large data center campuses.

The MSCI Asia-Pacific index rose 2% to 231.03 points.

Rate cut expectations are resurging! U.S. bond traders are no longer betting on inflation, but instead are betting that oil prices will drag down the economy.

With the tense situation in the Middle East pushing oil prices to multi-year highs, the trading logic in the US bond market is undergoing a fundamental shift.

Trump's withdrawal of troops signals optimism! The three major US stock indexes recorded their largest single-day increase in nearly a year, with Wall Street betting on an early end to the Middle East conflict.

Propelled by the latest expectations of the market that tensions in the Middle East may ease, all three major US stock indexes surged on Tuesday, marking the largest single-day gain in nearly a year.

New Stock News | Jingyin Pharmaceuticals submitted a second application to the Hong Kong Stock Exchange. Its core product, SRSD107, is currently undergoing Phase II multi-regional clinical trials in Europe and China.

According to the disclosure of the Hong Kong Stock Exchange on March 31, Jingyin Pharmaceutical (also known as Sirius Therapeutics) submitted its listing application to the main board of the Hong Kong Stock Exchange, with Goldman Sachs, Haitong International, and HSBC as its joint sponsors. This is the company's second time applying to the Hong Kong Stock Exchange.

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10 m ago

EXL announces strategic service partnership with Google Cloud.

10 m ago

Market news: SBA Communications is considering selling related matters.

15 m ago

Settlement price of WTI crude oil futures was $111.54 per barrel, up $11.42, an increase of 11.41%.

18 m ago

WTI May crude oil futures closed at $111.54 per barrel. NYMEX May natural gas futures closed at $2.8 per million British thermal units. NYMEX May gasoline futures closed at $3.2880 per gallon, NYMEX May heating oil futures closed at $4.3611 per gallon.

19 m ago

The night trading session for crude oil futures on the Shanghai Futures Exchange closed up 3.75%, at 713.20 yuan per barrel. Gold futures on the Shanghai Futures Exchange closed down 0.74%, while silver futures closed down 1.87%.

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