Financial Daily: Trump stated that the Iran operation might end within two to three weeks; Nasdaq surged over 3.5%, tech stocks staged a strong rebound. Can market panic dissipate from here?

- Focus

– Trump stated that the U.S. may conclude its military operations in Iran within two to three weeks and emphasized that the U.S. is not responsible for the Strait of Hormuz.

– China's central bank: The overall operation of China's economy remains stable, but it still faces issues and challenges such as strong supply versus weak demand, and external shocks. It is recommended to strengthen monetary policy control.

– Data from the U.S. Energy Information Administration shows that due to winter storms, crude oil production in many parts of the United States was forced to halt, causing U.S. crude oil output in January to experience its largest drop in nearly two years.

– Iranian President Masoud Pezeshkian stated that Iran has the necessary willingness to end the war, but requires guarantees to prevent future aggression.

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- Stock Market

[U.S. Market] All three major U.S. stock indexes closed higher, with the Nasdaq up over 3.5%.

On Tuesday, both the U.S. and Iran expressed a willingness to end the war. Additionally, U.S. President Trump said the U.S. might conclude its war with Iran within two to three weeks, leading to a significant drop in oil prices. A calming of market panic sentiment drove a surge in U.S. stocks, with all three major indexes rising over 2%. The Nasdaq surged over 3.5%, marking its largest single-day gain in nearly 10 months.

At the close, the S&P 500 Index rose 2.91% to 6,528.52 points; the Nasdaq Composite Index gained 3.83% to 21,590.629 points; and the Dow Jones Industrial Average climbed 2.49% to 46,341.51 points. The VIX Volatility Index fell 17.45% to 25.27 points. Most sector ETFs strengthened, with semiconductor ETFs rebounding sharply by 5.76%. Global technology and biotech index ETFs also performed well.

Technology stocks saw a major rebound, with the U.S. tech giants index rising 4.40%, where each component stock gained at least nearly 3%. Meta surged 6.67%, NVIDIA rose 5.62%, Google A increased 5.14%, Tesla advanced 4.64%, Amazon climbed 3.66%, Microsoft gained 3.12%, and Apple rose 2.90%. The Nasdaq Golden Dragon China Index jumped 2.80% to 6,753.34 points. Among popular Chinese stocks, Baidu rose 4.52%, Tencent gained nearly 3.6%, Alibaba climbed 2.85%, and Xiaomi advanced 1.57%. In individual stock movements, Circle shares rose 6.25%, while Taiwan Semiconductor gained nearly 6.8%.

[European Market] European major country stock indexes generally closed higher on Tuesday.

On Tuesday, European major country stock indexes generally closed higher. At the close, the pan-European STOXX 600 Index rose 0.41% to 583.14 points, with a cumulative decline of about 8% in March. The pan-European STOXX 50 Index gained 0.50% to 5,569.73 points, with a cumulative drop of about 9.3% in March.

Germany's DAX 30 Index rose 0.52% to 22,680.04 points, with a cumulative decline of over 10% in March; France's CAC 40 Index gained 0.57% to 7,816.94 points, with a cumulative drop of nearly 9% in March; and the UK's FTSE 100 Index rose 0.48% to 10,176.45 points, with a cumulative decrease of about 6.7% in March.

[Asian Markets] Asian stock markets continued their downturn on Tuesday, with South Korea's main index falling over 4%.

Asian stock markets continued their downturn on Tuesday, with South Korea's main index falling over 4%. By the close, Japan’s Nikkei 225 Index fell 1.58% to 51,063.72 points; Japan’s TOPIX Index dropped 1.26% to 3,497.86 points. South Korea's KOSPI Index fell 4.26% to 5,052.46 points.

[Hong Kong Market] Hong Kong's three major indexes ended mixed, with the Hang Seng Tech Index falling over 0.8%.

Hong Kong stocks rebounded after a high opening and subsequent dip on Monday, with its three major indexes ending mixed. The Hang Seng Tech Index closed down over 0.8%. At the close, the Hang Seng Index rose 0.15% to 24,788.14 points; the Hang Seng Tech Index fell 0.86% to 4,649.82 points; the Hang Seng China Enterprises Index dropped 0.30% to 8,374.30 points. Sector-wise, tech stocks were broadly weak, with BYD Electronics falling over 5%, Huahong Semiconductor dropping over 4%, and Alibaba closing down 1.24%; home appliance stocks strengthened, with Midea Group rising over 7%; pharmaceuticals and biotech advanced, with Hansoh Pharmaceutical up over 7% and Wuxi Bio rising over 5%.

[A-share Market] A-shares trended downward, with the three major indexes closing lower.

A-shares trended downward on Tuesday, with all three major indexes closing lower. The ChiNext Index fell over 2.5%, while the Shanghai Composite Index dropped below 3,900 points. By the close, the Shanghai Composite Index fell 0.80% to 3,891.86 points, with a cumulative monthly loss of 6.51% in March; the Shenzhen Component Index dropped 1.81% to 13,478.06 points; and the ChiNext Index declined 2.70% to 3,184.95 points. In terms of sectors, motorcycle-related stocks stood out as a Chinese brand won the World Superbike Championship with a 4-second lead, breaking decades of international dominance. Huayang Racing surged over 18%, and Qianjiang Motorcycle rose over 10%. CCTV Finance reported that China would build a high-speed rail under the Yangtze River with an investment exceeding 500 billion yuan, leading to gains in high-speed rail stocks. Jindun Shares, Shenzhou High-Speed Rail, and Jinxi Axle rose over 10%. Storage, CPO, and other computing power-related sectors led declines in A-shares.

– Bonds

[US Bonds] US Treasury yields continued to decline.

US Treasury yields continued to fall, but cumulative yields for March still saw a significant rise due to tensions in the Middle East. In New York trading, the yield on the 10-year US Treasury note fell 3.16 basis points to 4.3166%, with a cumulative increase of 37.91 basis points in March; the yield on the two-year Treasury note dropped 3.49 basis points to 3.7930%, with a cumulative rise of 41.81 basis points in March.

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

European government bond yields generally fell on Tuesday. In European trading, Germany's 10-year bond yield fell 3.1 basis points to 3.004%, with a cumulative rise of about 36 basis points in March. The UK's 10-year bond yield dropped 1.7 basis points to 4.918%, with a cumulative increase of 68.5 basis points in March; France's 10-year bond yield fell 4.6 basis points to 3.723%, with a cumulative gain of 48.6 basis points in March.

[China Bond Market] Government bond futures generally closed higher on Tuesday.

On Tuesday, government bond futures generally closed higher. By the end of trading, the 30-year main contract rose by 0.15%, the 10-year main contract increased by 0.04%, the 5-year main contract gained 0.03%, and the 2-year main contract remained flat compared to the previous trading day.

– Foreign exchange

[US Dollar] The US dollar ended its consecutive gains, with the ICE US Dollar Index falling more than 0.5%.

After rising for five consecutive trading days, the US dollar turned lower, with the ICE US Dollar Index dropping more than 0.5%, falling below the 100-point mark. In late New York trading, the ICE US Dollar Index fell 0.53% to 99.979 points; the Bloomberg Dollar Index dropped 0.48% to 1,216.37 points.

[Non-US Currencies] The US dollar against the Japanese yen fell more than 0.5%.

In late New York trading, the US dollar against the Japanese yen fell 0.55% to 158.83 yen, with a cumulative increase of about 1.8% in March.

[Renminbi] The US dollar against offshore renminbi stood at 6.8892 yuan.

In late New York trading, the US dollar against offshore renminbi fell 271 points compared to the previous trading day's close, standing at 6.8892 yuan. The onshore renminbi against the US dollar rose 49 points from the previous trading day’s closing price, standing at 6.9081 yuan.

[Cryptocurrency] Cryptocurrency market showed volatile upward movement.

The cryptocurrency market showed volatile upward movement. In late New York trading, Bitcoin prices rose approximately 2.4%, and Ethereum prices surged over 4%.

– Product

[Energy] US crude oil futures prices fell by 1.46%.

Due to the easing of tensions in the Middle East, with both the US and Iran showing willingness to end the conflict, oil prices fell. In late New York trading, US crude futures dropped by 1.46%, settling at $101.38 per barrel, marking a gain of approximately 52% in March, the largest monthly increase in nearly six years.

[Precious Metals] The metals market generally strengthened, with gold prices rising for three consecutive trading days.

Precious Metals:Gold prices rose for three consecutive sessions. In late New York trading, spot gold climbed about 3.5%, to $4,668.20 per ounce, down around 11.6% in March; US gold futures increased by 3.14%, to $4,700.60 per ounce, down about 11.1% in March.

Metals Futures Market:The metals market broadly strengthened, with spot silver surging over 7%, returning above $75 per ounce; US silver futures rose 6.77% to $75.345 per ounce. London aluminum futures increased approximately 2.1%, to $3,471.50 per ton; London copper futures gained about 0.9%, to $12,329.50 per ton.

[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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