Continuing Jobless Claims for Mar/21 in the United States is 1,841K, higher than the previous value of 1,816K. The forecast was 1,840K.~



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Initial Jobless Claims for Mar/28 in the United States is 202K, lower than the previous value of 211K. The forecast was 212K.~



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Spot USD/CNY sank 196 bps to close at 6.8936 today (2nd). As of 4:47 pm, USD/CNY in the night session slid 229 bps. USD/CNH plummeted 218 bps to 6.8989, 53 bps below USD/CNY.
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Recently, the Ministry of Human Resources and Social Security of China (MOHRSS), the Cyberspace Administration of China (CAC), the Ministry of Industry and Information Technology (MIIT) and two other authorities launched administrative guidance to standardize the publication of recruitment-related information on online platforms.

The authorities required online platforms including KANZHUN (BZ.US), Douyin, KUAISHOU-W (01024.HK) and WB-SW (09898.HK) to further strengthen their primary responsibility for information and content management. The companies must ensure proper qualification verification, clear information disclosure, thorough content review, adequate risk prevention and effective handling and control measures.

The move aims to continuously enhance compliance operations, technical security algorithm and rights protection level, and strengthen governance of the online recruitment space, safeguarding the legitimate employment rights of job seekers.
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US President Donald Trump warned that further military aggression against Iran could be taken within the next 2-3 weeks, dampening market hopes that the conflict would soon de-escalate.

Oil prices surged, with Brent oil futures for June delivery escalating 6.83% to US$108.07 per barrel. New York oil futures for May delivery swelled 6.42% to US$106.5 per barrel.

The market had previously been prepared for a 'binary outcome', expecting that Trump might signal a ceasefire or hint at further escalation, George Efstathopoulos, portfolio manager at Fidelity International, said.

It is now clear that the global situation is on the latter path. He expected that Trump's remarks to further heighten investors' risk-off sentiment until uncertainties subside.

Oil tanker traffic through the Strait of Hormuz is unlikely to resume in the short term, Giles Alston, political risk analyst at Oxford Analytica, said. It is becoming increasing clear that he US stance on facilitating oil exports through the strait is now something that the government has basically adopted a hands-off approach.
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Inflation Rate YoY for Mar in Switzerland is 0.3%, higher than the previous value of 0.1%. The forecast was 0.5%.~



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Japanese equities reversed from early gains to losses in the morning session. Optimism over a potential end to the US-Iran conflict initially lifted the market. However, sentiment turned after US President Donald Trump said in a televised address that extremely severe strikes against Iran would be launched within the next two to three weeks. The Nikkei 225 opened 327 pts higher and once climbed 518 pts to an intraday high of 54,258, before reversing sharply. At midday, it stood at 52,731, down 1,007 pts or 1.9%. Among AI and semiconductor stocks, Advantest (6857.JP) and Kioxia (285A.JP) fell 5.8% and 4.6%, respectively, while Tokyo Electron (8035.JP) dropped 2.7%. SoftBank (9984.JP), Disco (6146.JP) and Raito Kogyo (6920.JP) declined between 1.4% and 1.9%. In the fiber-optic and cable segment, Furukawa Electric (5801.JP), Sumitomo Electric (5802.JP) and Fujikura (5803.JP) slid 3.5% to 4%. Metal stocks weakened, with JX Metals (5016.JP) down 5.7%, while Sumitomo Metal Mining (5713.JP) and Mitsui Mining & Smelting (5706.JP) fell 4% and 4.6%, respectively. Rare earth-related Mitsui Ocean Development & Engineering (6269.JP) tumbled 7.2%. Trading house Sumitomo Corporation (8053.JP) lost 2.2%, and oil producer Inpex (1605.JP) declined 2.3%. Elsewhere, Fast Retailing (9983.JP) edged down 0.4%. Mitsubishi UFJ Financial (8306.JP) and Tokio Marine (8766.JP) dropped 2.1%, while Mizuho Financial (8411.JP) fell 2.9%. Tokyo Electric Power (9501.JP), Ryohin Keikaku (7453.JP) and Shiseido (4911.JP) retreated 1.7% to 2.4%, and Nintendo (7974.JP) slid 3.7%. Shipping firm Nippon Yusen (9101.JP) and heavy machinery maker Mitsubishi Heavy Industries (7011.JP) bucked the trend, rising 2.4% and 2.6%, respectively. USD/JPY climbed back above the 159 level, last quoted at 159.43. (fc/u)~ AASTOCKS Financial News Website: www.aastocks.com

This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

G Sachs published a research report stating that after MINISO (09896.HK) announced its 2025 results, management disclosed at a non-deal roadshow held on April 1 that membership programs, intellectual property (IP) business, and channel upgrades are key development priorities for this year. The broker maintained a Buy rating on MINISO, with a US share TP of USD21.3 for MINISO (MNSO.US) and an H-share TP of HKD42.

The broker noted that management reiterated its optimistic view on the IP business, believing that the trendy toy category has significant growth potential. With the large-store/flagship store model delivering solid performance (accounting for a double-digit percentage of sales in China in 2025 and expected to reach 30% in 2026), the company plans to further promote this strategy in China and introduce it to overseas markets. (hc/w)~



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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

Citi, in its research report, recaptured that it hosted the “2026 Innovation Trailblazers Corporate Day” on March 31 and yesterday (April 1), and invited JD.com (JD.US)’s management to attend. Key discussion topics included the earnings resilience of JD Retail, investments in new businesses and losses from the food delivery segment, internationalization strategy, and commitments in shareholder returns. The broker maintained its Buy rating on JD.com with a TP of USD35.

Citi believed JD.com's undemanding valuation and strong FCF yield present a compelling investment case. If management scales back its margin-dilutive investments in food delivery, the broker expected a clear path to improved profitability. JD.com's unparalleled supply chain capabilities should provide a deep and defensive moat against agentic commerce disruption.
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Citi Research published a research report saying that it hosted the 2026 Innovation Trailblazers Corporate Day event on 1 April, and invited BABA-W (09988.HK)’s management to attend.

Key discussion topics included AI and cloud strategy, recent price hike & the cloud market landscape, drivers for cloud margin improvement, updates on instant retail, and the application of AI in e-commerce.

The broker believed that, leveraging its full-stack capabilities, BABA-W holds the strongest AI competitive advantage among China’s internet sector. Although competition in food delivery and instant retail remains intense, Citi Research estimated related business losses to narrow QoQ.

Therefore, the broker kept ratings at Buy for BABA-W’s US stock/ H-shares, with target prices of US$200/ $199.
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To further eliminate potential safety hazards posed by overaged home appliances and to bring more green and smart home appliance and furnishing products into households, JD Blackboard News stated that JD.com-SW (09618.HK), together with more than 100 brands including Haier and Midea Group (00300.HK), has officially launched a "RMB10 billion dual-subsidy" plan for home appliances and furnishings.

JD.com plans to jointly invest RMB10 billion in dedicated subsidies with participating brands over the coming year to lower the threshold for consumers to replace old products. At the same time, leveraging its supply chain advantages in large-scale bulk procurement, the company will help partner brands reduce costs and improve efficiency.(ta/w)~

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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

The US Treasury Department stated that it will hold meetings with domestic and international insurance regulators to discuss the latest developments in the private credit market.

In a statement, the Treasury said the meetings are expected to begin in April and continue through early May. Participants will review recent market dynamics, emerging risks, risk management practices and the outlook for the industry. The statement noted that the first round of meetings will promote more frequent and regular communication with state insurance regulators and lay the groundwork for continued close cooperation.

Earlier, Reuters cited sources as saying that US Treasury officials hope to gather regulators views on several issues, including the rising use of fund-level leverage, rating consistency in private credit, the use of offshore reinsurance, and investment liquidity in the private credit market. (fc/w)~

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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

According to foreign media reports, former Bank of Japan (BOJ) Chief Economist Toshitaka Sekine said that the escalating war in Iran has heightened upside inflation risks, providing justification for the BOJ to raise interest rates as early as this month.

He added that based on the current assessment of the situation, April would be an appropriate time to take action, as by the end of April it should be possible to determine whether the impact of developments in the Middle East will be temporary.

Traders currently see about a 70% chance of a rate hike when the BOJ holds its meeting this month. However, many BOJ watchers noted that the final decision will depend on how the Middle East situation evolves, as Governor Kazuo Ueda has pledged to closely monitor both upside and downside inflation risks.

Sekine said he believes upside inflation risks are greater. If the central bank fails to fulfill its mandate of stabilizing inflation due to political factors, the cost could be substantial, as financial markets may react strongly. This could likely trigger heavy selling of the yen by foreign investors, leading to further depreciation of the Japanese currency. (mn/w)~

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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

International Energy Agency (IEA) Executive Director Fatih Birol said the oil supply shortage will further intensify this month.

He noted that before the outbreak of war, some vessels carrying oil and natural gas had passed through the Strait of Hormuz. Those ships were still en route to various ports last month, but no such cargoes have arrived at ports this month. The oil shortage will be twice that of last month. In addition, shortages of other energy sources, including liquefied natural gas (LNG), will exacerbate inflation and weigh on economic growth in many countries, particularly emerging economies. Many countries may soon have to implement energy rationing.

Birol said the supply disruption caused by the current war is more severe than previous crises. During the two oil crises in the 1970s, global crude oil supply losses were about 5 million barrels per day each time, while the current loss stands at 12 million barrels per day. The loss of natural gas supply resulting from the blockade of the Strait of Hormuz also exceeds the impact the market endured four years ago when Russian gas supplies were disrupted.

He described the scale of the current crisis as exceeding the combined impact of the three aforementioned events. Many key commodities, including petrochemical products, fertilizers and sulfur, are critical to global supply chains. He warned that the world is heading toward an extremely significant supply disruption, potentially the largest in history.

Birol said the organization would likely recommend releasing more oil reserves if necessary. He added that the most pressing issue at present is the shortage of aviation fuel and diesel. Such conditions have already been observed in Asia and may spread to Europe this month or early next month. (fc/u)~

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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

Markets are awaiting a televised address by US President Donald Trump regarding the Iran issue. Trump said extremely severe strikes against Iran would be launched within the next two to three weeks, prompting Brent oil futures to rise. In Hong Kong, the HSI opened down 39 pts or 0.2% at 25,254. The HSCEI opened down 27 pts or 0.3% at 8,477. The HSTECH opened down 23 pts or 0.5% at 4,732.

Among oil stocks, PETROCHINA (00857.HK) opened down 0.9% at HKD10.45, while CNOOC (00883.HK) opened up 0.1% at HKD27. Zijin Mining (02899.HK) opened up 0.9% at HKD36.72, and CMOC (03993.HK) opened up 1.9% at HKD17.79.

XPENG (09868.HK) delivered a cumulative 62,700 electric vehicles in 1Q26, with its shares opening 0.4% higher. LI AUTO (02015.HK) delivered 41,000 vehicles last month, up 12% YoY, with its shares opening flat at HKD71.2. Among other automakers, BYD (01211.HK) opened flat at HKD104.7. XIAOMI opened down 1%. GEELY AUTO (00175.HK) opened up 1%.

Among tech stocks, TENCENT (00700.HK) opened down 0.1% at HKD496, BABA (09988.HK) opened down 1.4%, BILIBILI (09626.HK) and NEW ORIENTAL (09901.HK) opened down 1.7% and 2.1%, respectively. KUAISHOU (01024.HK), MEITUAN (03690.HK), JD.COM (09618.HK) and BAIDU (09888.HK) opened down 0.5% to 0.9%, while NETEASE (09999.HK) opened down 0.3%. Among chip stocks, SMIC (00981.HK) opened flat at HKD52.85 and HUA HONG SEMICONDUCTOR (01347.HK) opened flat at HKD83.65. AI stocks ZHIPU (02513.HK) and MINIMAX (00100.HK) opened down 2.6% and 3.7%, respectively.

Among financial stocks, HSBC (00005.HK) opened up 0.8% at HKD131.3, HKEX (00388.HK) opened flat at HKD400.4, and AIA (01299.HK) opened flat at HKD87.5. (fc/w)~

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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

US President Donald Trump delivered a national address on the situation in Iran, stating that the "epic rage operation" against Iran had achieved an overwhelming victory. He said the US would launch extremely severe strikes on Iran within the next two to three weeks, urging countries that rely on the Strait of Hormuz for oil transportation to show "long-overdue courage" in resolving the issue. The US would provide assistance, but other countries should take the leading role.

During Trump s speech, international oil prices rose. Brent oil futures climbed 3.7% to USD104.9 per barrel, while New York oil futures gained 2.49% to USD102.61 per barrel. US stock index futures came under pressure, with DJIA futures falling 256 points or 0.55% to 46,541. S&P 500 futures and Nasdaq futures declined 0.69% and 0.89%, respectively.

Trump acknowledged the rise in US gasoline prices but described it as a "short-term increase" caused by Iran s belligerent actions. He reiterated that if Iran does not reach an agreement, the US will strike Iran s power plants. He predicted that once military operations against Iran conclude, the US will be "safer, stronger, more prosperous and greater" than ever before, gasoline prices will fall rapidly, and stock prices will rebound swiftly. (mn/a)~

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China Foreign Exchange Trade System (CFETS) announced on Thursday (2nd) that the central parity of USD/ RMB added 145 bps from the previous day to 6.8880.
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Richmond Fed President Thomas Barkin said in an interview with Reuters that corporate performance suggests businesses expect high oil prices to be temporary. There are currently no clear signs that elevated oil prices have led consumers to cut spending or altered inflation expectations in a concerning way. He said the conclusion was based on weekly credit card spending data and regular discussions with corporate executives on pricing, investment and other issues.

Barkin noted that gasoline spending has clearly risen significantly, but other consumption remains fairly healthy. If the situation lasts only two to four weeks, while not ideal, it would not fundamentally change living standards. However, if it is perceived to persist over the long term, a pullback in consumption would be more likely. He added that various scenarios could prompt the Federal Reserve to move in either direction, but the case for raising interest rates would likely center on rising inflation expectations. At present, however, he has not observed a breakout shift in inflation expectations. (fc/w)~

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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

According to foreign media reports, Bank of England Governor Andrew Bailey said that markets have already factored in expectations of central bank rate hikes when pricing assets, which he considers somewhat ahead of time. He noted that monetary policymakers must clearly focus on risks to economic growth, employment and inflation when making the next interest rate decision. He said that while markets expect the central bank to raise rates and that this is a judgment the market has to make, he believes such expectations are somewhat premature.

Bailey stated that monetary policy action must be taken if appropriate. However, the immediate priority remains addressing the root causes of the shocks. He added that the central bank must respond to successive shocks, but its mandate is very clear: measures should be handled in a way that causes the least possible damage to economic activity and employment.

Bailey also highlighted the risks posed by the conflict involving Iran to highly leveraged financial markets. The central bank had earlier warned of vulnerabilities in private credit and bond markets. (fc/w)~

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The International Energy Agency (IEA), the International Monetary Fund (IMF) and the World Bank (WB) will form a coordination group to maximize their institutions’ response to the significant economic and energy impacts of the war in the Middle East.

In the joint statement, the three global institutions noted that the current war has caused major disruptions in the region and triggered a major supply shortages in global energy markets.

At these times of high uncertainty, it is paramount that the three institutions join forces to monitor developments, and coordinate support to policymakers to navigate this crisis.
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This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.