Financial Daily: US stocks fell in tandem + escalating Middle East tensions, while Hong Kong and mainland China stocks surged against the trend showing resilience! What investment signals are hidden behind the oil price spike?

- Focus

– Trump stated that progress has been made in US-Iran negotiations, with American media reporting that the US has submitted a 15-point ceasefire proposal to Iran.

– A Reuters/Ipsos poll showed Trump's approval rating dropped to a new low of 36%.

– NASA's new director, Jared, stated that NASA will cancel its plan to deploy a space station in lunar orbit and instead focus on building a base on the lunar surface.

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] All three major US stock indexes closed lower

On March 24 local time, reports indicated that parts of the U.S. 82nd Airborne Division would soon be deployed to the Middle East. This news drove oil prices higher and caused a sharp drop in U.S. stocks. Later, Trump stated that the U.S. was beginning 'rational communication' with Iran, which helped oil prices recover some losses. The three major U.S. indexes still closed lower, with significant declines in the tech sector due to news that Amazon’s cloud division was developing AI agents to replace roles in sales and business development, triggering a chain reaction.

At the close, the S&P 500 Index fell 0.37% to 6,556.37 points; the Nasdaq Index dropped 0.84% to 21,761.894 points; and the Dow Jones Industrial Average declined 0.18% to 46,124.06 points. The VIX panic index rose 3.06% to 26.95 points. AI and robotics sector ETFs fell more than 1.2%, while energy and oil & gas sectors rose over 2%.

The U.S. tech giants index fell 1.19%. Tesla rose about 0.6%, Amazon fell 1.38%, Meta dropped 1.84%, Microsoft declined over 2.6%, and Google A fell 3.85%. The Nasdaq Golden Dragon China Index dropped 0.43% to 6,771.27 points. Among popular Chinese stocks, WeRide surged over 9% for the second consecutive day, JinkoSolar gained 6.5%, and Xiaomi fell about 2%. In individual stock movements, Circle's share price plummeted around 20%, while TSMC rose 1.42%.

[European Markets] On Tuesday, most major European country indices closed higher.

On Tuesday, most major European country indices closed higher. At the close, the pan-European STOXX 600 Index rose 0.43% to 579.28 points, and the pan-European STOXX 50 Index climbed 0.13% to 5,581.29 points.

Germany’s DAX 30 Index fell 0.07% to 22,636.91 points; France’s CAC 40 Index rose 0.23% to 7,743.92 points; and the UK’s FTSE 100 Index gained 0.72% to 9,965.16 points.

[Asian Markets] On Tuesday, Asian stock markets rebounded strongly, with major Japanese and Korean indices rising over 1%.

On Tuesday, Asian stock markets rebounded strongly, with major Japanese and Korean indices rising over 1%. At the close, Japan's Nikkei 225 Index rose 1.43% to 52,252.28 points, and Japan's TOPIX Index climbed 2.10% to 3,559.67 points. South Korea's KOSPI Index surged 2.74% to 5,553.92 points.

[Hong Kong Market] Hong Kong’s three major indices all closed higher, with the Hang Seng Index gaining nearly 2.8%.

Hong Kong stocks opened higher on Tuesday but dipped before stabilizing and steadily moving upward, with the three major indexes rising over 2%, recovering most of the previous day’s losses. At the close, the Hang Seng Index rose 2.79% to 25,063.71 points; the Hang Seng Tech Index gained 2.51% to 4,830.89 points; and the Hang Seng China Enterprises Index climbed 2.31% to 8,499.53 points. In terms of sectors, tech stocks generally trended higher, with Lenovo up over 4%, Tencent and Meituan both closing up more than 3%, and Baidu Group and Alibaba rising over 2%. Gold stocks rebounded strongly, with Chifeng Gold surging over 16%, and other gold-related names also performing well. The biomedicine, non-ferrous metals, and durable consumer goods sectors were among the top gainers.

[A-share Market] A-shares rallied in the last hour of trading, with the three major indexes closing higher

A-shares collectively strengthened on Tuesday, showing volatility throughout the day, with a late-session surge lifting all three major indexes into positive territory as all industry sectors advanced. At the close, the Shanghai Composite Index rose 1.78% to 3,881.28 points; the Shenzhen Component Index gained 1.43% to 13,536.56 points; and the ChiNext Index edged up 0.50% to 3,251.55 points. In terms of sectors, the chip sector performed strongly, with companies like Simmicro, Muxi Shares rising approximately 13.5%, Demingli gaining nearly 9%, and Moore Threads and Chipone Technology both up over 8%. The fiber optics concept sector continued to rise, with Dong Tian Microelectronics surging over 16%, and Fuling Technology, Yangtze Optical Fiber, and Tongding Interconnection hitting their daily trading limit. The power sector saw a rally, with shares such as New Energy Taishan, Guangdong Electric Power A, and Huayin Electric Power all climbing over 10%.

– Bonds

[U.S. Treasuries] U.S. Treasury yields moved higher

Rising crude oil prices weighed on U.S. Treasuries, and weak demand was evident in the two-year Treasury auction, leading to an increase in short-term Treasury yields following the release of the auction results, after which Treasury yields overall declined. By the New York close, the yield on the 10-year U.S. Treasury note increased by 1.79 basis points to 4.3359%; while the yield on the two-year U.S. Treasury note rose by 3.68 basis points to 3.8887%.

[Non-U.S. Bond Markets] European government bond yields broadly rose, with significant increases in short-term yields

European government bond yields broadly rose on Tuesday, with short-term yields seeing much larger gains compared to medium- and long-term bonds. By the European market close, the yield on Germany's 10-year government bond increased by 0.74 basis points to 3.027%, while the yield on the two-year German government bond rose over 10 basis points. The yield on the UK 10-year government bond increased by 2.3 basis points to 4.943%, with the two-year UK government bond yield rising by 3.8 basis points. France’s 10-year government bond yield increased by 2.3 basis points to 3.734%, with the two-year French government bond yield up about 7 basis points.

[China Bond Market] Government bond futures showed mixed performance on Tuesday, with the 30-year main contract rising over 0.5%

Government bond futures showed mixed performance on Tuesday, with the 30-year main contract rising over 0.5%. At the close, the 30-year main contract was up 0.55%, trending higher throughout the session. The 10-year main contract increased by 0.02%, the 5-year main contract remained flat compared to the previous trading day, and the 2-year main contract fell by 0.02%.

– Foreign exchange

[U.S. Dollar] The dollar fluctuated higher, with the ICE U.S. Dollar Index rising approximately 0.28%

The US dollar fluctuated higher but gave back gains in the late trading session. In late New York trading, the ICE US Dollar Index was up approximately 0.28% at 99.231 points, while the Bloomberg Dollar Index rose about 0.3% to 1,209.28 points.

[Non-US Currencies] The US dollar strengthened against most major currencies.

The US dollar strengthened broadly against major global currencies. In late New York trading, USD/JPY rose by 0.16% to 158.69 yen. EUR/USD fell by 0.06% to 1.1607 dollars, GBP/USD dropped by 0.19% to 1.3406 dollars, and AUD/USD declined by 0.30%.

[Renminbi] USD/CNH traded at 6.8938 yuan.

In late New York trading, USD/CNH was up 97 points from the previous session's close at 6.8938 yuan. Onshore CNY/USD rose 185 points from the previous session’s closing price to 6.8877 yuan.

[Cryptocurrency] The cryptocurrency market weakened as Bitcoin fell approximately 2.3%.

Details of the US Clarity Act have emerged, proposing to ban returns on passive stablecoin holdings and prohibit arrangements that are economically equivalent to earning interest. This news led to declines in stablecoins and cryptocurrencies. Bitcoin closed down about 2.3%, falling below $70,000, while Ethereum dropped around 2.1% to $2,115.

– Product

[Energy] US crude oil futures rose approximately 4.8%.

Oil prices strengthened following news of the US deploying airborne division troops to the Middle East. In late New York trading, US crude oil futures increased by approximately 4.8%, settling at $92.35 per barrel.

[Precious Metals] Precious metals were broadly higher, with silver reclaiming levels above $70.

Precious Metals:Gold prices trended higher amid volatility. In late New York trading, spot gold rose 1.15% to $4,459.60 per ounce, while US gold futures gained 1.19% to $4,492.30 per ounce.

Metals Futures Market:Precious metals generally trended upward, with silver prices returning above $70. Spot silver rose 2.65%, trading at $71.0768 per ounce; US silver futures increased by 2.43%, trading at $71.040 per ounce. US copper futures climbed 0.26%, trading at $5.50 per pound; spot platinum rose 2.70%, and spot palladium gained 0.18%.

[Disclaimer]

The content above is provided by Harbor Family Office (hereinafter referred to as "Harbor Family Office"), sourced from market information gathered from various channels. Neither Harbor Family Office nor its group members participated in preparing the content, nor did they explicitly or implicitly endorse or approve it. This article is for reference only and does not constitute any investment or trading advice. Investment involves risks. Readers should independently evaluate and judge this information and are advised to consult professionals before making any investment or trading decisions. Without authorization, no one may reproduce, copy, or publish the content in whole or in part to the public in any manner. Copyright belongs to Harbor Family Office and relevant providers.

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