A brief ceasefire between the US and Iran may provide a window for more than 800 vessels stranded in the Persian Gulf to depart, Bloomberg reported. However, key details of the ceasefire remain unclear.

Iran stated it agreed to allow safe passage of ships through the Strait of Hormuz for two weeks, subject to coordination by its armed forces and technical restrictions. US President Donald Trump said in a social media post that the US would help direct traffic and remain nearby to ensure smooth passage.

Meanwhile, shipowners across Asia, the Middle East and Europe expressed both relief and caution over the potential reopening of the strait. No immediate change in traffic has been observed near the waterway. Some shipowners said they have contacted insurers and security advisers and have vessels on standby.

A spokesperson for Maersk, the world's second-largest shipping company, said the ceasefire could create an opportunity for transit but does not yet provide sufficient maritime certainty. The company needs clarity on all potential attached conditions, noting that information remains limited. Nippon Yusen (9101.JP) also said it is closely monitoring developments.
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Spot USD/CNY soared 323 bps to close at 6.8274 today (8th), notching a new high since March 2023. As of 4:47 pm, USD/CNY in the night session leaped 280 bps. USD/CNH swelled 242 bps to 6.8285, 11 bps below USD/CNY.
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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 Israel Defense Forces announced today (8th) that it has suspended its strikes on Iran, but remains on high alert, according to media reports. Israel had earlier stated that it supports US President Donald Trump's decision on a two-week ceasefire with Iran, but the ceasefire does not include Lebanon.

In addition, CCTV reported that Iranian Parliament Speaker Mohammad-Bagher Ghalibaf will lead a delegation to attend Iran-US negotiations to be held this Friday (10th) in Islamabad, the capital of Pakistan. The US delegation will be led by Vice President JD Vance.
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LI AUTO-W (02015.HK) has announced progress in its supercharging network development. According to Chinese media reports, the carmaker added 19 Li Auto supercharging stations in March. As of the end of March, there were a total of 4,057 Li Auto supercharging stations and 22,400 supercharging piles across China, covering 289 cities in 31 provinces.
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According to a Citi report, 37% of the 2025 results delivered by the Chinese consumer companies under the broker's coverage beat forecasts, 43% were in line with expectations, and only 20% were worse than expected.

Looking ahead to 2026, most companies provided specific guidance rather than using general descriptions like "cautiously optimistic". However, investors' positive sentiment toward the sector has been disrupted by the Middle East conflict, as well as concerns over cost inflation and macro uncertainty, leading to divergent investor views.

Citi is upbeat about the bounce back of downstream dairy producer MENGNIU DAIRY (02319.HK), sportswear maker ANTA SPORTS (02020.HK), as well as casual dining ecosystem players HAIDILAO (06862.HK), CHINA RES BEER (00291.HK), and HAITIAN FLAV (03288.HK).

If risk appetite exceeds expectations, Citi estimates stronger performance from POP MART (09992.HK), LI NING (02331.HK), LAOPU GOLD (06181.HK), CTG DUTY-FREE (01880.HK), and EASTROC (9980.HK).
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Stock | Investment Rating | Target Price (HKD)
GALAXY ENT (00027.HK) | Outperform | 49.5 -> 48
SANDS CHINA LTD (01928.HK) | Outperform | 22.9 -> 21.4
MGM CHINA (02282.HK) | Outperform | 20.9 -> 19.3
WYNN MACAU (01128.HK) | Outperform | 8.2 -> 6
Melco Resorts & Entertainment (MLCO.US) | Outperform | USD12.1 -> USD8.9
SJM HOLDINGS (00880.HK) | Outperform | 2.9 -> 1.7
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Even if Iran reopens the Strait of Hormuz, several months are still needed for aviation fuel supply to recover amid disruptions in Middle East refining capacity, Willie Walsh, Director General of the International Air Transport Association (IATA), opined.

Earlier, US President Donald Trump had said that the US and Iran agreed to a two-week ceasefire, on the condition that the Strait of Hormuz be immediately and safely reopened. International oil prices plunged by about 15% today (8th).
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During the five-day Easter and Ching Ming holiday (April 3-7), Macau recorded over 3.481 million crossings across its border checkpoints, more than 1.347 million of which were made by visitors, according to the Macau Public Security Police Force.

Specifically, inbound visitors totaled nearly 666,000, representing a daily average of around 133,000 arrivals.
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In March 2026, a total of 38 Chinese mobile game publishers were ranked among the global top 100 by revenue, according to a report by People's Financial News, citing data from Sensor Tower's Store Intelligence platform.

These Chinese publishers grossed a combined USD2.11 billion, accounting for 39.2% of the total revenue of the global top 100 mobile game publishers for the period.

Titles under Tencent, including Honor of Kings, Game For Peace, and Delta Force, secured the top three positions on the China App Store mobile game revenue chart for the period.
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KNOWLEDGE ATLAS (02513.HK) released its new-generation open-source model GLM-5.1. According to data from OpenRouter, the company raised the price of its GLM model by a further 10%.

After the adjustment, the cached token pricing of GLM-5.1 in coding scenarios approached the level of Claude Sonnet 4.6 under Anthropic, marking the first time a Chinese large model has achieved price alignment with leading overseas vendors in a core application scenario.
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Iran's Supreme National Security Council announced that Iran will begin talks with US representatives in Islamabad, the capital of Pakistan, on Friday (10th), with negotiations set to last up to 15 days.

Boosted by the news, US stock index futures drifted higher. DJIA futures surged 885 pts, or 1.89%, to 47,696. S&P 500 futures and Nasdaq futures soared 2.12% and 2.79%, respectively.

In Asian markets, the Nikkei 225 Stock Average rocketed 2,419 pts, or 4.53%, to last at 55,849. South Korea's KOSPI advanced 6.01% to last at 5,824.
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The total global AI large model calls reached 27 trillion tokens last week (March 30 to April 5), representing a WoW increment of 18.9%, based on the latest data estimates from OpenRouter cited by National Business Daily.

Among the ranked AI large models, weekly calls of Mainland AI large models escalated to 12.96 trillion tokens, up 31.48% WoW. In comparison, weekly calls of US AI large models amounted to 3.03 trillion tokens, up 0.76% WoW.

This indicates that weekly calls of Mainland AI large models have increased for five consecutive weeks and have surpassed that of the US for five straight weeks.
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BABA-W (09988.HK) has launched an upgraded video generation model, Wan2.7-Video.

This model supports inputs including text, images, videos, and audio. Focusing on the entire creative workflow, it covers processes like generation, editing, replication, reshaping, driving, continuation, and referencing.
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BABA-W (09988.HK), ByteDance, TENCENT (00700.HK), and more companies, placed bulk orders totaling several hundred thousand units for Huawei's upcoming chips, in preparation for the new V4 model of the domestic LLM, DeepSeek, according to US technology website The Information, citing five people with direct knowledge of the matter.

The next-generation model of DeepSeek is expected to be launched in the coming weeks.
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China's State Administration for Market Regulation (SAMR) recently convened an administrative guidance meeting in Beijing for food delivery platform operators, instructing three platforms - MEITUAN-W (03690.HK), Taobao Instant Commerce under BABA-W (09988.HK), and JD-SW (09618.HK) - to strictly implement the forthcoming "Regulations on the Supervision and Administration of Online Catering Service Operators' Fulfillment of Food Safety Responsibilities", strengthen their primary responsibility for food safety, and adopt practical and effective measures to safeguard consumers dining safety.

The meeting underscored that platform operators should take the official implementation date of June 1 as a key milestone, comprehensively review prevailing regimes, procedures, staffing and technical support in accordance with the regulation's requirements, and promptly conduct self-inspection and rectification.
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JD LOGISTICS (02618.HK), a subsidiary of JD-SW (09618.HK), recently carried out its first night-time autonomous vehicle delivery in Shenzhen using its intelligent delivery vehicle, according to Chinese media reports.

In this inaugural operation, JD LOGISTICS deployed the intelligent delivery vehicle loaded with daily consumer goods. It traveled along two newly approved cross-district night routes to Longgang District, marking the first time Shenzhen has granted night-time road access to functional autonomous vehicles.
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JD-SW (09618.HK) launched its group buying business last Friday (3rd), initially covering millions of catering merchants across over 100 cities in China. During the trial period, the platform is focusing on dine-in food discounts.

In the meantime, it rolled out a "Free Tea Drink with Every Order" campaign, partnering with tea and beverage brands including Starbucks, MIXUE Ice Cream & Tea, and Luckin Coffee to offer promotions. Customers who spend RMB99 or above will receive coupons.
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XPENG-W (09868.HK) responded to the entry into administration of its Australian exclusive distributor TrueEV, announcing the formal termination of the latter's exclusive agency rights.

XPENG stated that it was "deeply disappointed" with its cooperation with TrueEV, noting that the latter had not procured any vehicles for more than a year and had refused to fulfill an order for 454 vehicles.

It also cited public conflicts with local dealers, adding that mutual trust between the two parties had completely broken down.
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Dieter Lorenz, former Senior Manager of Delivery Operations for Central Europe at Tesla, said in a social media statement that he took up the role of Head of Europe Delivery and Logistics at Xiaomi Auto earlier this month, after six years with Tesla, embracing new challenges and opportunities.
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In February 2026, China imported a total of 32,000 vehicles, down 17.4% MoM or 11.6% YoY, and the import value dropped by 17.6% MoM or 18.6% YoY concurrently to USD1.47 billion, according to data compiled by the China Association of Automobile Manufacturers (CAAM) from China Customs.

In 2M26, China's vehicle imports grew by 24.3% YoY to 70,000 units, while the import value rose by 8.3% YoY to USD3.27 billion.
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