Morning News Summary

The Shenzhen Index opened lower but trended higher to rise nearly 1%, with the pharmaceutical and lithium sectors collectively strengthening. The Hang Seng Index gained 0.55% in the morning session, the Hang Seng TECH Index rose 1.05%, and the Hang Seng Biotech Index surged 3.75%. Leapmotor rose over 5%, and BYD Company rose over 4%. Asia-Pacific stock markets rebounded after hitting a bottom. The Nikkei 225 index, after falling more than 2% intraday, turned to trade near the flat line. South Korean stocks also significantly narrowed their declines. In China, profits of industrial enterprises above designated size increased by 15.2% year-on-year in January-February. Profits in the computer, communication, and other electronic equipment manufacturing sector grew by 2.0 times year-on-year. US media reported that the US Department of Defense is considering sending 10,000 additional ground troops to the Middle East. Privately praising the UK's "Treasury intervention in central bank targets" model? Bessent: Nonsense, the Financial Times is already "tabloid trash." SpaceX plans to allocate 30% of its IPO shares to retail investors, with Musk breaking Wall Street conventions. The National Social Security Fund stated that it has decisively increased its holdings multiple times during significant A-share market downturns.