Morning News Summary

The Shenzhen Index and ChiNext both fell over 2%, while the oil and gas and chemical sectors surged against the trend. The Hang Seng Index dropped 2.55% in the first half of the day, the Hang Seng Tech Index fell 2.33%, and the Hang Seng Biotechnology Index decreased by 4.35%. Southbound funds net bought over HKD 17 billion in the first half of the day.

The production halt in the Middle East has impacted the market! WTI crude oil futures surged by 30% at one point, leading to a double whammy for global stocks and bonds, with the Korean stock market dropping 8% and triggering a circuit breaker, while gold and silver prices fell.

South Korean President Lee Jae-myung stated that if necessary, the scale of the 100 trillion won market stabilization plan will be expanded.

Trump said he would make a decision to end military actions against Iran at the "appropriate time."

China's February CPI year-on-year growth rate expanded to 1.3%, the highest in nearly three years, while the year-on-year decline in PPI continued to narrow to 0.9%.

The work report of the Standing Committee of the National People's Congress: This year, legislative research in fields such as artificial intelligence will be strengthened, and laws on state-owned assets and finance will be formulated