Financial Daily: All three major U.S. stock indexes rose by more than 1%, as Trump signaled positive developments in U.S.-Iran negotiations, boosting market sentiment

- Key Focus

– Samsung Electronics' labor union has suspended its strike action originally scheduled for Thursday

– The Iranian president met with Pakistan's Interior Minister, focusing on assessing the progress of current U.S.-Iran indirect negotiations and related diplomatic consultations

– U.S. President Trump stated he is willing to wait a few more days to receive the 'right response' from Iran

– China and Russia signed a 'Joint Statement on Further Strengthening Comprehensive Strategic Coordination and Deepening Good-Neighborly and Friendly Cooperation'

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- Stock Market

[U.S. Markets] All three major U.S. stock indices closed higher, with the Philadelphia Semiconductor Index rising nearly 4.5%

On Wednesday, U.S. President Trump softened his stance toward Iran, stating that U.S.-Iran negotiations have entered their final stage and that an agreement will be reached. Oil prices declined, and all three major U.S. stock indices rebounded sharply, each gaining over 1%, easing market panic sentiment.

At the close, the S&P 500 rose 1.08% to 7,432.97; the Nasdaq gained 1.54% to 26,270.359; the Dow Jones Industrial Average climbed 1.31% to 50,009.35. The VIX fear index fell 3.38% to 17.45. The Philadelphia Semiconductor Index surged 4.49% to 11,813.286.

The Magnificent Seven tech stocks index rose 1.17%. Among them, Tesla gained 3.25%, Amazon rose 2.19%, NVIDIA advanced 1.30% following earnings that beat expectations but not by a wide margin, Apple increased 1.10%, and Google A added 0.32%. The Nasdaq Golden Dragon China Index declined 0.44% to 6,760.28. Among notable Chinese ADRs, PDD Holdings rose 0.83%, JD.com gained 0.25%, and Alibaba fell 0.86%. In individual stocks, Taiwan Semiconductor rose 2.29%, SanDisk increased 0.67%, and Goldman Sachs jumped 5.8%.

[European Markets] Major European equity indices rose across the board

On Wednesday, major European equity indices rose across the board, with most national benchmarks gaining over 1%. At the close, the pan-European STOXX 600 index rose 1.46% to 620.29, while the STOXX 50 index climbed 2.13% to 5,976.07.

Germany's DAX 30 index rose 1.38% to close at 24,737.24; France's CAC 40 index gained 1.70% to end at 8,117.42; the UK's FTSE 100 index advanced 0.99% to settle at 10,432.34; Italy's FTSE MIB index declined 1.71% to close at 49,181.66.

[Asian Markets] Asian equities were mixed on Wednesday, with Japanese indices falling more than 1%.

Asian stock markets ended mixed on Wednesday, with Japanese indices dropping over 1%. At the close, Japan’s Nikkei 225 fell 1.23% to 59,804.41; South Korea’s KOSPI declined 0.86% to 7,208.95; Singapore’s Straits Times Index dropped 0.54% to 5,044.91; Thailand’s SET Index rose 0.77% to 1,528.43.

[Hong Kong Market] Hong Kong’s three major indices ended mixed, with the Hang Seng Tech Index turning positive intraday.

Hong Kong’s three major indices ended mixed on Wednesday, with the Hang Seng Tech Index rebounding during the session to finish in positive territory. At the close, the Hang Seng Index fell 0.57% to 25,651.12; the Hang Seng Tech Index rose 0.34% to 4,873.82; and the Hang Seng China Enterprises Index declined 0.40% to 8,605.13. In sector performance, semiconductor stocks outperformed strongly: GigaDevice surged 17.03%, and Montage Technology gained 5.48%. AI-related stocks attracted increased attention due to the emerging 'Physical AI' concept—encompassing humanoid robots, industrial simulation, 3D vision, and seven other areas—with 51WORLD rising 13.03% and Pony AI up 5.69%. Gold stocks continued to weaken, with Zijin Mining International down 4.33%, Tongguan Gold falling 4.13%, and Zhufeng Gold sliding nearly 10%.

[A-Share Market] China’s A-share benchmark indices ended mixed.

China’s A-share market opened lower and traded sideways throughout the day, with the three major indices ending mixed. At the close, the Shanghai Composite Index fell 0.18% to 4,162.18; the Shenzhen Component Index was flat compared to the previous session at 15,569.98; and the ChiNext Price Index rose 0.34% to 3,921.79. In sector and thematic performance, the semiconductor sector continued its strong rally: Lianyun Technology and Shanghai Simgui both surged 20% (hitting the daily trading limit), Huahong Company jumped 18.74% to a record high, SMIC gained 12.62%, and more than ten stocks rose over 10%. The power sector underwent broad corrections, with Beijing Energy International and Datang International Power Generation hitting the daily trading limit down, and over twenty stocks falling more than 7%. AI application, coal, and brain-computer interface concept sectors weakened.

- Bonds

[U.S. Treasuries] U.S. Treasury yields dropped significantly, with the 10-year yield falling by more than 10 basis points.

U.S. Treasury prices rose alongside U.S. equities, driving yields sharply lower. At the New York close, the yield on the 10-year U.S. Treasury note declined by 10.46 basis points to 4.5577%, while the two-year Treasury yield fell by 8.01 basis points to 4.0381%.

[Non-U.S. Bond Markets] Sovereign bond yields in major European countries were heavily sold off.

Sovereign bond yields in major European countries were sharply lower, with Germany's 10-year yield down 9.7 basis points to 3.096%, and its 2-year yield down 10.4 basis points to 2.655%. The UK's 10-year yield fell 14.1 basis points to 4.988%. France's 10-year yield dropped 11.3 basis points, while Italy's 10-year yield declined 13.8 basis points.

[China Bond Market] Treasury futures continued to strengthen on Wednesday

Treasury futures extended their upward momentum on Wednesday, with all tenors posting modest gains. At the close, the most active 30-year treasury futures contract rose 0.01%, the 10-year contract gained 0.01%, the 5-year contract advanced 0.03%, and the 2-year contract increased 0.02%.

– Foreign exchange

[US Dollar] The dollar index weakened, with the euro rising 0.2%

The dollar index weakened, with the ICE U.S. Dollar Index down 0.24% at 99.090 at the New York close; the Bloomberg Dollar Spot Index declined 0.28% to 1,200.60.

The dollar was mostly weaker against major global currencies: USD/JPY fell 0.15% to 158.83 yen; EUR/USD rose 0.20% to $1.1627; GBP/USD gained 0.28% to $1.3431.

[Renminbi] USD/CNH traded at 6.8022

At the New York close, the offshore renminbi (CNH) weakened by 147 pips from the previous session’s close, trading at 6.8022 against the dollar. Onshore renminbi (CNY) weakened by 21 pips from the prior session’s close, ending at 6.8060 per dollar.

[Digital Assets] Bitcoin edged higher, trading above $77,500

Bitcoin prices rose modestly by approximately 0.8% on Wednesday, trading above $77,500.

– Products

[Energy] U.S. crude oil futures prices continued to decline

Crude oil prices continued to fall, with losses widening. At the New York close, U.S. crude oil futures dropped 5.66%, settling at $98.26 per barrel.

[Precious Metals] Precious and base metal prices generally rebounded, with gold prices returning above $4,500

Precious Metals:Gold prices rebounded, climbing back above $4,500. At the New York close, spot gold rose 1.35% to $4,543.20 per ounce; U.S. gold futures gained 0.78%, settling at $4,546.40 per ounce.

Metals Futures Market:Precious and base metals broadly declined, with silver posting notable losses. At the New York close, spot silver rose approximately 2.9% to $75.8819 per ounce; U.S. silver futures climbed about 3% to $75.9510 per ounce. U.S. copper futures advanced around 2% to $6.3330 per pound. Spot platinum increased 1.6%, and spot palladium rose 0.9%.

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