Financial Daily: Mixed signals from US-Iran negotiations; AI policy reignites market attention! US stocks hit new highs again, Hang Seng Tech Index rises nearly 5%

- Key Focus

– Iran stated it has suspended communications with the United States, but President Trump denied this, saying negotiations are still ongoing.

– Trump signed an executive order on AI, requiring AI companies to grant the government access to their models before public release.

– Microsoft unveiled its first code-generation model, MAI-Code-1-Flash, at the Build developer conference.

– U.S. job openings in April posted the largest increase in nearly five years.

Content compiled by 'Harbor Family Office,' a subsidiary of Henry Jia Group. It does not constitute any investment or trading advice. Stay tuned.

- Stock Market

[U.S. Markets] U.S. stocks rose again, with all three major indices hitting new record highs.

On Tuesday, Iran and the U.S. continued to issue conflicting statements regarding negotiation progress, leading to a slight rise in oil prices. However, strong April job openings data and persistent enthusiasm driven by AI kept boosting U.S. equities. All three major U.S. stock indices closed higher, with the S&P 500 marking its ninth consecutive day of gains and both the S&P 500 and the Dow Jones Industrial Average posting record highs for the fifth straight session, slightly easing market panic sentiment.

At the close, the S&P 500 rose 0.13% to 7,609.78; the Nasdaq gained 0.03% to 27,093.901; the Dow Jones Industrial Average climbed 0.45% to 51,307.79. The VIX fear index fell 1.68% to 15.78. The Philadelphia Semiconductor Index surged 5.87% to 13,726.27.

The index of the U.S. tech 'Magnificent Seven' declined 1.03%. Among them, Apple rose 2.90%, Tesla gained 1.89%, NVIDIA dropped 0.69%, Amazon fell 1.81%, Google A slid 3.86%, and Microsoft declined 4.17%. The Nasdaq Golden Dragon China Index rose 1.83% to 6,805.68. Among notable Chinese ADRs, Tencent surged 9.10%, and Alibaba advanced 4.32%. In individual stocks, Taiwan Semiconductor rose 2.54%, Circle fell 3.96%, and Marvell soared over 32% after Jensen Huang called it the next 'trillion-dollar company.'

[European Markets] Major European indices generally moved higher.

On Tuesday, major European indices broadly rebounded. At the close, the pan-European STOXX 600 index rose 0.66% to 625.34, while the Euro STOXX 50 gained 1.21% to 6,107.85.

Germany's DAX 30 index rose 0.48% to close at 25,124.17 points; France's CAC 40 index gained 0.77% to end at 8,209.09 points; the UK's FTSE 100 index advanced 0.33% to settle at 10,373.51 points; and Italy's FTSE MIB index climbed 1.61% to close at 50,578.54 points.

[Asian Markets] Most Asian stocks closed higher on Tuesday, with South Korea’s benchmark index turning positive in late trading.

Most Asian markets closed higher on Tuesday, with South Korea’s main index turning positive toward the close. At the close, Japan’s Nikkei 225 fell 0.30% to 66,734.24 points; South Korea’s KOSPI rose 0.15% to 8,801.49 points; Singapore’s Straits Times Index gained 1.01% to 5,088.99 points; and Thailand’s SET Index advanced 1.42% to 1,590.67 points.

[Hong Kong Market] All three major Hong Kong indices closed higher, with the Hang Seng Tech Index surging over 4.7%.

Hong Kong stocks opened strong and continued to rally throughout Tuesday, with all three major indices rising more than 2.5%, and the Hang Seng Tech Index surging over 4.7%. At the close, the Hang Seng Index gained 2.52% to 26,038.32 points; the Hang Seng Tech Index jumped 4.72% to 5,199.28 points; and the Hang Seng China Enterprises Index rose 3.00% to 8,762.97 points. In sector performance, large-cap tech and internet stocks led gains: Tencent surged over 10%, Meituan rose 9.27%, JD.com and Alibaba both gained over 6.5%, while Bilibili and Baidu climbed more than 4%. AI application-related stocks strengthened, with WuYi Vision surging 22.48% on heightened investor interest in intelligent driving, Weimob Group rising 12.50%, and Pony AI gaining 8.36%. Pharmaceutical stocks underperformed, with Akeso falling 8.11%, and Kelun Biotech and Henlius each dropping over 7%.

[A-Share Market] Mainland China’s A-share market opened lower but rebounded strongly, with all three major indices closing higher.

Mainland China’s A-share market opened lower but rallied through the session, with all three major indices closing in positive territory—the Shenzhen Component Index up over 1.5% and the ChiNext Index gaining over 2.5%. At the close, the Shanghai Composite Index rose 0.43% to 4,075.10 points; the Shenzhen Component Index advanced 1.63% to 15,591.13 points; however, the ChiNext Index declined 2.66% to 4,055.87 points. In sector performance, the AI PC segment rose sharply: Yingli Shares gained 13.34%, and Chunqiu Electronics hit its daily trading limit, driven by news that NVIDIA unveiled its new RTX Spark superchip for Windows, signaling NVIDIA’s entry into the PC central processor market. The computing hardware supply chain rallied broadly as robust industry demand pushed share prices higher—Zhongjing Electronics, Dongshan Precision, and Shengquan Group all reached their daily limits. Meanwhile, AI applications, short-form drama gaming, and wind power sectors declined.

- Bonds

[U.S. Treasuries] U.S. Treasury yields followed a V-shaped pattern, with the 10-year yield falling 0.98 basis points.

U.S. Treasury yields traced a V-shaped path. At the New York close, the 10-year U.S. Treasury yield fell 0.98 basis points to 4.4433%, while the 2-year yield rose 1.03 basis points to 4.0431%.

[Non-U.S. Bond Markets] Sovereign bond yields in major European countries broadly declined.

Sovereign bond yields in major European countries broadly declined. Germany's 10-year bond yield fell by 2.8 basis points to 2.975%, and its 2-year bond yield dropped by 1.1 basis points to 2.620%. France's 10-year bond yield decreased by 3.6 basis points, Italy's 10-year yield fell by 4.8 basis points, and Spain's 10-year yield declined by 3.6 basis points.

[China Bond Market] Treasury futures mostly rose on Tuesday

On Tuesday, most treasury futures rose, while ultra-long-term treasury futures were flat. As of the close, the front-month 30-year treasury futures contract was unchanged from the previous trading day, the 10-year contract gained 0.06%, the 5-year contract rose 0.04%, and the 2-year contract increased by 0.01%.

– Foreign exchange

[US Dollar] The dollar was largely flat, with USD/JPY approaching the 160 mark

The US dollar followed an inverted-V pattern overall, remaining largely unchanged from the previous session. At the New York close, the ICE U.S. Dollar Index was essentially flat at 99.205, while the Bloomberg Dollar Spot Index fell 0.03% to 1,201.62.

The US dollar edged higher against most major currencies. USD/JPY rose 0.16% to JPY 159.92, nearing the 160 level; EUR/USD declined 0.03% to USD 1.1629.

[Chinese Yuan] USD/CNH stood at 6.7623

At the New York close, USD/CNH was down 30 pips from the previous session’s close at 6.7623. Onshore CNY strengthened by 10 pips against the dollar from the previous night’s fixing, settling at 6.7650.

[Digital Assets] Cryptocurrencies plunged sharply, with Bitcoin down nearly 6%

Cryptocurrencies weakened significantly on Tuesday, with Bitcoin falling nearly 6% and briefly dipping below USD 67,000; Ethereum dropped almost 5% to around USD 1,900.

– Products

[Energy] U.S. crude oil futures prices rose 1.74%

Oil prices edged higher as the market awaits developments in negotiations, amid conflicting statements from the U.S. and Iran regarding the progress of talks. At the New York close, U.S. crude oil futures rose 1.74%, settling at $93.76 per barrel; Brent crude futures gained 1.07%, settling at $96.00 per barrel.

[Precious Metals] Precious metals strengthened, with gold prices posting a modest gain

Precious Metals:Gold prices initially rose before pulling back, narrowing gains. At the New York close, spot gold rose 0.06% to $4,487.82 per ounce; U.S. gold futures gained 0.27%, settling at $4,518.60 per ounce.

Metals Futures Market:At the New York close, spot silver rose approximately 0.4% to $75.1334 per ounce; U.S. silver futures gained about 0.25%, settling at $75.455 per ounce. U.S. copper futures climbed roughly 1.9% to $6.6760 per pound. Spot platinum rose 0.35%, and spot palladium increased 0.75%.

[Disclaimer]

The above content is provided by Harbor Family Office (hereinafter referred to as "Harbor Family Office"), summarized from various market information sources. Harbor Family Office and its group members did not participate in preparing the content nor explicitly or implicitly endorse it. This article is for reference only and does not constitute any investment or trading advice. Investment involves risks. Readers should independently assess and judge this material and are advised to seek professional opinions before making any related investments or trades. Without authorization, no one may reproduce, copy, or publish this content in whole or in part to the public in any manner. Copyright belongs to Harbor Family Office and related providers.

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