Financial Daily: All seven major US tech stocks closed lower, Nasdaq fell over 1.4%, global markets focus on the US appropriations bill!

- Focus

– The US House of Representatives passed the appropriations bill, ending the partial shutdown of the US government

– China's 2026 Central Document No. 1 was released, focusing on agricultural and rural modernization, protecting arable land, and increasing farmers' income mechanisms.

– Iran requested to change the location of talks with the US from Turkey to Oman, limiting the agenda to nuclear issues.

Content compiled by the 'Harbor Family Office' under Henry Group. It does not constitute any investment or trading advice. Stay tuned.

- Stock Market

[US Market] Software stocks led declines in the US stock market, with all three major indices closing lower.

The launch of a new automation company by AI firm Anthropic has sparked concerns that core businesses of software companies could be replaced by AI technology. Panic sentiment drove investors to sell off tech sector stocks, with significant dumping in software stocks dragging down the three major US indices. The Nasdaq fell over 1.4%. Notably, most stocks in the S&P 500 closed higher, including FedEx and Walmart, which are considered economic bellwethers, both performing strongly.

At the close, the S&P 500 Index fell 0.84% to 6,917.81 points; the Nasdaq Index dropped 1.43% to 23,255.185 points; and the Dow Jones Industrial Average declined 0.34% to 49,240.99 points. In terms of sectors, the semiconductor ETF fell 2.52%, and the tech ETF dropped 2.19%.

The index tracking the seven major US tech giants fell 1.68%, with Tesla up slightly by 0.04%, Google A down 1.16%, Meta down 2.08%, and NVIDIA and Microsoft both dropping over 2.8%. The Nasdaq China Golden Dragon Index fell 0.94% to 7,610.01 points. Among popular Chinese stocks, Daqo New Energy fell 5.6%, Bilibili dropped around 4%, Alibaba fell 2.9%, and Baidu and Trip.com both declined over 2%.

[European Market] On Tuesday, European major indices generally edged lower, while the STOXX 600 hit another record high.

On Tuesday, European major indices generally edged lower, while the STOXX 600 index continued to close at a new high. At the close, the pan-European STOXX 600 Index rose 0.10% to 617.93 points, and the pan-European STOXX 50 Index fell 0.20% to 5,995.35 points.

Germany's DAX 30 Index fell 0.09% to 24,775.35 points; France's CAC 40 Index dropped 0.02% to 8,179.50 points; and the UK FTSE 100 Index declined 0.26% to 10,314.59 points.

[Asian Market] Japanese and Korean indices surged on Tuesday, with the Korean index closing up 6.84%.

On Tuesday, Japan and South Korea's stock indexes surged significantly, with Japan’s index closing up nearly 4% and South Korea’s index soaring by 6.84%, marking the largest single-day gain in nearly six years. By the close, the Nikkei 225 Index rose 3.92% to 54,720.66 points, while Japan’s TOPIX Index gained 3.10% to 3,645.84 points. The KOSPI Index in South Korea surged 6.84% to 5,288.08 points. A sharp rally in chip stocks drove the Korean index higher, with Samsung Electronics surging over 11%.

[Hong Kong Market] Mixed performance among Hong Kong's three major indexes, with the Hang Seng Tech Index falling over 1%

On Tuesday, Hong Kong's three major indexes performed mixed, with the Hang Seng Index closing slightly higher while the Hang Seng Tech Index dropped more than 1%. By the close, the Hang Seng Index was up0.22% at 26,834.77 points; the Hang Seng Tech Index fell 1.07% to 5,467.26 points, and the Hang Seng China Enterprises Index declined 0.30% to 9,053.11 points. Sector-wise, gold stocks led gains on the Hong Kong market, with International Gold Group jumping over 13%; defense and military stocks as well as machinery sectors also strengthened, with CIMC Group rising over 14% and Zoomlion Heavy Industry increasing by over 9%. Large tech stocks saw morning losses but narrowed by the afternoon, with Tencent down about 3%, Baidu down around 3.6%, Kuaishou dropping approximately 4.6%, and Alibaba slipping about 1%.

[A-share Market] A-shares rallied in the afternoon as the three major indices closed higher

A-shares followed a V-shaped pattern throughout the day on Tuesday, opening high and then retreating before rallying in the afternoon. All three major indexes ended higher, with the Shenzhen Component Index gaining more than 2%. Over 80 stocks hit their daily limit during the session. By the close, the Shanghai Composite Index rose 1.29% to 4,067.74 points, the Shenzhen Component Index climbed 2.19% to 14,127.11 points, and the ChiNext Index increased 1.86% to 3,324.89 points. In terms of sectors, the photovoltaic industry chain advanced collectively, with JPT and JinkoSolar both rising more than 10%; the CPO sector led gains, with RoboSense jumping 20%, and Gsolar Technology and Tianfu Communication rising over 10%; commercial aerospace shares moved higher, with several stocks gaining over 5%, including Tongyu Communication hitting its limit-up. As gold prices returned above the $4,900 mark, precious metal stocks trimmed earlier losses, with Hunan Gold hitting its limit-up.

– Bonds

[US Bonds] US Treasury yields edged lower, with the 10-year Treasury yield falling 0.79 basis points

US Treasury yields edged lower. At the New York close, the 10-year Treasury yield fell 0.79 basis points to 4.2695%, and the 2-year Treasury yield dropped 0.41 basis points to 3.5675%.

[Non-US Bond Markets] European government bond yields generally rose

On Tuesday, European government bond yields generally increased. By the European session close, Germany’s 10-year government bond yield rose 2.3 basis points to 2.891%; the UK’s 10-year government bond yield climbed 1.1 basis points; France’s 10-year government bond yield went up 1.7 basis points; Italy’s 10-year government bond yield also increased 1.7 basis points.

[China Bond Market] On Tuesday, government bond futures showed divergence, with short-term bonds outperforming

On Tuesday, the performance of government bond futures was mixed, with only the 30-year government bond declining while short-term bonds performed better. At the close, the main contract for the 30-year bond fell by 0.10%, the main contract for the 10-year bond rose by 0.02%, the main contract for the 5-year bond increased by 0.06%, and the main contract for the 2-year bond rose by 0.03%.

– Foreign Exchange

[US Dollar] The US Dollar Index edged lower.

The US Dollar Index turned negative. During the New York session close, the ICE US Dollar Index fell by 0.20% to 97.440 points; the Bloomberg US Dollar Index dropped by 0.28% to 1,188.41 points.

[Non-US Currencies] The US dollar declined against most major currencies except the Japanese yen, which saw a slight drop of 0.08%.

The US dollar fell against several major currencies except the Japanese yen. By the New York session close, the US dollar gained 0.08% against the yen, trading at 155.76 yen. The euro rose 0.23% against the dollar, the pound climbed 0.24% against the dollar, and the dollar fell 0.31% against the Swiss franc.

[Chinese Yuan] The offshore yuan exchange rate stood at 6.9351 yuan per dollar.

By the New York session close, the offshore yuan exchange rate had risen by 75 points compared to the previous trading day's close, reaching 6.9351 yuan per dollar. The onshore yuan appreciated by 151 points relative to the previous closing price, ending at 6.9362 yuan per dollar.

[Cryptocurrencies] Cryptocurrency markets plunged during the session, with Bitcoin dropping below the April 2025 low.

Cryptocurrency markets experienced sharp declines on Tuesday. Bitcoin plummeted over 7%, briefly falling below the April 2025 low before rebounding to trade below $76,000, narrowing losses. Ethereum plunged around 9%, nearing the $2,100 level before recovering significantly but still ended the session lower.

- Commodities

[Energy] Crude oil futures prices rebounded.

Oil prices rebounded, with the US stating that it shot down an Iranian drone recently, drawing market attention to the rising tensions between the US and Iran. Near the close of US trading, Brent crude futures rose about 1.6%, settling at $67.33 per barrel; US crude futures climbed approximately 1.7%, settling at $63.21 per barrel.

[Precious Metals] Gold and silver prices surged, with spot gold jumping nearly 6%.

Precious Metals:Gold prices surged strongly, posting the largest single-day gain since November 2008. In late New York trading, spot gold soared 5.96% to $4,939.38 per ounce; US gold futures surged 6.94% to $4,975.30 per ounce.

Metals Market: Precious metals prices rebounded, with US silver futures surging over 11%.In late New York trading, spot silver surged 7.36% to $85.0929 per ounce; US silver futures jumped 11.05% to $85.505 per ounce. US copper futures rose 4.47% to $6.0960 per pound; spot platinum increased 4.08%, and spot palladium gained 1.82%.

[Disclaimer]

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