Chinese news boosts Asian stock markets, with all indices rising, crude oil and iron ore increasing, and gold dropping by 40 dollars

With China's RRR cut and interest rate reduction and confirmation of trade talks with the United States, risk appetite has surged. Asian stock markets have risen, and futures prices for iron ore, steel, and other commodities have increased. As risk aversion fades, expectations for a Federal Reserve interest rate cut this week have further weakened, the dollar has strengthened, and gold has plummeted during the Asian trading session. At 9 a.m. on Wednesday, the State Council Information Office held a press conference where People's Bank of China Governor Pan Gongsheng simultaneously announced a RRR cut and interest rate reduction, lowering the reserve requirement ratio for financial institutions by 0.5 percentage points and the policy interest rate by 0.1 percentage points, from the current 1.5% to 1.4%, while also reducing the housing provident fund interest rate by 0.25 percentage points. Earlier today, the Ministry of Foreign Affairs stated that Vice Premier He Lifeng will visit Switzerland from May 9 to 12, during which Vice Premier He, as the Chinese lead in Sino-U.S. economic and trade talks, will hold discussions with U.S. Treasury Secretary Janet Yellen, the U.S. lead. As risk aversion fades, gold has fallen below the $3,400/ounce threshold, with intraday losses exceeding 2% at one point, and as of the time of writing, the decline has narrowed to 1.2%. Optimistic sentiment has driven the Asia-Pacific stock markets higher, with the MSCI Asia Emerging Markets Index up 0.4%. The South Korean Composite Index rose over 0.5%, the MSCI Vietnam Index increased by more than 0.4%, and the FTSE Malaysia Index rose nearly 0.3%. Previously, tariff turmoil had harmed macroeconomic sentiment, but with China and the U.S. moving forward with trade talks, commodity futures such as cotton, soybeans, wheat, and iron ore have all shown varying degrees of increase. CBOT soybeans, corn, and wheat have risen over 1%. International crude oil prices continued their overnight rebound trend, with WTI crude oil rising over 0.63% and Brent crude oil up 0.50%. Natural gas surged by 2%.