Financial Daily: US stocks surged then retreated, Asian markets rebounded strongly; escort issues in the Strait of Hormuz triggered sharp fluctuations in crude oil prices

- Focus

– The U.S. Navy informed the shipping industry that it is temporarily unable to provide escorts in the Strait of Hormuz due to a high risk of attack.

– The international passenger train service between China and North Korea has resumed operation after six years.

– U.S. envoy Witkof stated that the next round of peace talks among Ukraine, Russia, and the United States may take place next week.

– The G7 energy ministers were unable to reach an agreement on releasing strategic oil reserves and requested the International Energy Agency (IEA) to first assess the situation.

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- Stock Market

[U.S. Market] U.S. stocks surged then pulled back. The three major indices showed mixed results.

On Tuesday, the U.S. Secretary of Energy posted an article stating that the U.S. Navy had successfully escorted an oil tanker through the Strait of Hormuz. Crude oil prices quickly dropped by nearly 20%, and U.S. stocks strengthened. However, the article was subsequently deleted. Moreover, the commander of Iran's Islamic Revolutionary Guard Corps Navy responded, saying that the claim of U.S. military escorting tankers through the Strait of Hormuz was a complete lie. Additionally, the White House press secretary denied the escort. Oil prices quickly rebounded, and U.S. stocks turned negative, with the three major indexes showing mixed performance.

At the close, the S&P 500 Index fell 0.21% to 6,781.48 points; the Nasdaq Index rose 0.01% to 22,697.104 points; and the Dow Jones Industrial Average declined 0.07% to 47,706.51 points.

The index of the seven leading U.S. tech giants closed up 0.36%, with NVIDIA gaining 1.16%, Meta rising over 1%, and Microsoft falling nearly 0.9%. The Nasdaq Golden Dragon China Index rose 1.96% to 7,222.96 points. Among popular Chinese stocks, Nio jumped about 15%, 21Vianet surged over 13%, Tencent gained nearly 10%, and Alibaba rose more than 3%. For individual stocks, Netflix fell 1.4%, Oracle dropped 1.43%, and Taiwan Semiconductor declined 0.46%.

[European Market] Major European national indices strongly rebounded on Tuesday.

Major European national indices strongly rebounded on Tuesday, with the pan-European index returning above 600 points. At the close, the pan-European STOXX 600 Index rose 1.88% to 606.12 points, while the pan-European STOXX 50 Index climbed 2.67% to 5,837.17 points.

Germany's DAX 30 Index closed up 2.39% at 23,968.63 points; France's CAC 40 Index closed up 1.79% at 8,057.36 points; and the UK's FTSE 100 Index closed up 1.59% at 10,412.24 points.

[Asian Markets] Asian stocks rebounded strongly on Tuesday, with South Korea’s main index rising over 5%.

On Tuesday, Asian stocks rebounded strongly, but South Korea's main index fell more than 5%. By the close, Japan's Nikkei 225 Index was down 2.88% at 54,248.39 points, while Japan's TOPIX Index rose 2.47% to 3,664.28 points. South Korea's KOSPI Index gained 5.35% to close at 5,532.59 points.

[Hong Kong Market] Hong Kong's three major indices all closed higher.

Hong Kong stocks opened higher and continued to rise on Tuesday, with all three major indices closing up by over 2%, including the Hang Seng Index and the Hang Seng Tech Index. At the close, the Hang Seng Index was up 2.17% at 25,959.90 points, the Hang Seng Tech Index gained 2.40% to 5,060.53 points, and the Hang Seng China Enterprises Index rose 1.50% to 8,710.26 points. Sector-wise, OpenClaw-related stocks surged, with XunCe closing up over 30%, MiniMax gaining over 22%, and ZhiPu rising over 12%. Technology stocks broadly rebounded, with Tencent Holdings up over 7%, SMIC gaining over 5%, and Huahong Semiconductor and Alibaba both rising over 3%. CATL led gains in the Hang Seng Index components, surging over 9%.

[A-share Market] All three major A-share indices closed higher, with the ChiNext Index rising over 3%

China's A-shares opened higher and performed steadily on Tuesday, with all three major indices closing up, and the ChiNext Index gaining over 3%. By the close, the Shanghai Composite Index was up 0.65% at 4,123.14 points, the Shenzhen Component Index gained 2.04% to 14,354.07 points, and the ChiNext Index rose 3.04% to 3,306.14 points.%The computing power hardware sector collectively strengthened, with Chang Guang Hua Xin hitting a 20% limit-up, while DeKeLi and YuanJie Technology both gained over 10%. The semiconductor equipment, photovoltaic, consumer electronics, innovative drug, and commercial space sectors were among the top gainers, while oil and gas, coal, and chemical sectors declined.

– Bonds

[US Bonds] US Treasury yields showed mixed performance.

At the New York close, the yield on the 10-year US Treasury note rose by 0.4 basis points to 4.138%, while the yield on the two-year US Treasury note fell by 2.1 basis points to 3.571%.

[Non-US Bond Markets] Yields on 10-year European government bonds broadly declined.

On Tuesday, 10-year European government bond yields generally fell. In European trading, Germany's 10-year government bond yield was little changed at 2.861%, while the UK's 10-year government bond yield dropped by 9.3 basis points to 4.554% and France's 10-year government bond yield fell by 6.7 basis points to 3.442%.

[China Bond Market] Treasury futures showed a V-shaped trend throughout Tuesday

Treasury futures showed a V-shaped trend throughout Tuesday. As of the close, the 30-year main contract rose by 0.04%, the 10-year main contract was roughly flat, the 5-year main contract was roughly flat, and the 2-year main contract increased by 0.01%.

– Foreign exchange

[US Dollar] The US Dollar Index fluctuated in a V-shape, with the ICE US Dollar Index rising by 0.11%

The US Dollar Index fluctuated around the previous trading day’s level. In New York trading, the ICE US Dollar Index rose by 0.11% to 98.842 points, while the Bloomberg US Dollar Index fell by 0.11% to 1,200.15 points.

[Non-US Currencies] The US dollar showed mixed performance against most major currencies

The US dollar showed mixed performance against major global currencies. In New York trading, the US dollar rose by 0.23% against the Japanese yen to 158.04 yen. The euro fell by 0.22% against the US dollar, and the British pound fell by 0.14% against the US dollar. The Australian dollar rose by 0.61% against the US dollar.

[Renminbi] The US dollar against offshore renminbi was quoted at 6.8790 yuan

In New York trading, the US dollar against offshore renminbi rose by 125 points from the previous trading day’s close, quoted at 6.8790 yuan. The onshore renminbi against the US dollar rose by 465 points from the previous trading day’s closing price, quoted at 6.8718 yuan.

[Cryptocurrency] Cryptocurrency market surged then pulled back, Bitcoin briefly approached $72,000

On Tuesday, the cryptocurrency market surged and then pulled back. The price of Bitcoin briefly approached $72,000 before turning lower, falling below the $70,000 mark.

– Product

[Energy] Crude oil futures prices fluctuated sharply, with oil prices falling over 10% on Tuesday.

Crude oil futures prices fluctuated sharply, dropping due to news from the U.S. about a 'successful escort' of a tanker through the Strait of Hormuz, before rebounding. By the end of U.S. trading, Brent crude futures fell approximately 11%, settling at $87.80 per barrel, while U.S. crude futures dropped about 11.9%, settling at $83.45 per barrel.

[Precious Metals] Precious metals generally trended higher, with spot gold prices rising 1.1%.

Precious Metals:By the New York market close, spot gold prices increased by 1.10%, reaching $5,194.85 per ounce; U.S. gold futures rose by 1.96%, settling at $5,203.70 per ounce.

Metals Futures Market:Precious metals prices moved higher overall. Spot silver rose 1.8%, trading at $88.516 per ounce, while U.S. silver futures surged 5.17%, settling at $88.89 per ounce. U.S. copper futures increased 0.26%, reaching $5.918 per pound; spot platinum gained 0.68%, and spot palladium fell 1.86%.

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