GMT EIGHT - OPPORTUNITIES IN CHINA

The ambassador of Iran in China answered whether the Strait of Hormuz is toll-collecting.

In response to the widespread attention of foreign media on whether the Strait of Hormuz will be charged, Iran's ambassador to China, Fazli, stated on the 8th in Beijing that Iran has not yet officially launched a charging plan and standard. Iran will refer to the current toll standards of other waterways in the world and international law to make a decision.

Director of Hong Kong Immigration Department Guo Junfeng has been reappointed until June 30, 2027.

The Director of the Hong Kong Immigration Department, Guo Junfeng, will reach retirement age on April 9, 2026. He has been granted an extension until June 30, 2027.

Midday Report: The ChiNext Index surged 4.8% in the morning, with both the gold and AI industry chains showing widespread gains.

The three major indexes of A shares rose collectively in the morning session. As of noon, the Shanghai Composite Index rose by 1.92%, the Shenzhen Component Index rose by 3.87%, the Growth Enterprise Index rose by 4.81%, and the Beishiz 50 rose by 3.51%. The total market turnover was 1.5525 trillion yuan, an increase of 474.6 billion yuan from the previous day, with over 5000 stocks rising across the entire market. In terms of sector performance, precious metals, AI applications, CPO, PCB, airport shipping, cloud computing, commercial aerospace, and semiconductor sectors led the gains. On the other hand, oil and gas exploration and services, coal mining and processing, and chemical raw materials sectors led the declines. On the market, the temporary ceasefire between the US and Iran took effect, improving market risk appetite. CPO, PCB, and other computing hardware stocks rose sharply, with Zhongjixuchuang hitting a new historical high in intra-day trading. Stocks such as Jianqiao Technology and Guanghe Technology also hit the limit up. Gold stocks followed the rise in international gold prices, with Western Gold hitting the limit up, and Xiaocheng Technology and Hunan Silver following suit. AI application concept stocks also performed strongly, with Blue Light Label up by 20%, and ZheWen Interconnect and Delicai Stock among the 10+ stocks that hit the limit up. In addition, sectors such as semiconductors, commercial aerospace, and computing power leasing also rose. On the other hand, after the ceasefire between the US and Iran, international oil prices plummeted. Oil and gas stocks followed suit, with companies like Zhongman Petroleum, Becken Energy, and Blue Flame Holdings hitting the limit down, while China National Offshore Oil and Quan Oil Stock leading the declines.

The Shanghai and Shenzhen 300 Index futures rose 3.0% to 4,496.00 points.

America and Iran agree to a ceasefire for two weeks, causing gold to rise more than 3% and oil to plummet by 19%, falling below the 100 yuan mark.

Trump agrees to a two-week ceasefire with Iran, and Iran agrees to open the Strait of Hormuz in the ceasefire agreement. As a result, the price of gold goes up, while the price of oil falls below $100.

From the threat of "destroying civilization" to a ceasefire for two weeks, the situation in the Middle East is unpredictable! Wall Street urgently prepares a "war trading guide".

Goldman Sachs and J.P. Morgan traders are formulating stock market trading strategies in response to the rising risks of a war.

Shatter the "delay panic"! Apple Inc. (AAPL.US) is rumored to unveil its first foldable iPhone as scheduled in September, significantly narrowing the 5% intraday decline.

According to informed sources, Apple's (AAPL.US) first foldable phone is still expected to make an appearance during the regular iPhone release cycle later this year, shattering concerns about major manufacturing obstacles.

The TACO script is staged as scheduled! Trump's "civilization extinction ultimatum" turned into a ceasefire for two weeks, and the technology stocks are on the verge of a super counterattack.

With both the United States and Israel agreeing to a temporary ceasefire, less than 12 hours after Trump's outburst threatening to "wipe out the entire civilization of Iran", the tension between the US and Iran can be said to have undergone a dramatic reversal.

Hong Kong stock concept tracking | Central bank continues to increase holding of gold for 17 consecutive months, the long-term logic of gold price increase remains unchanged (with concept stocks)

Nanhua Futures stated that in the second quarter, the prices of precious metals will gradually recover from the bottom after shaking, and the previous decline will gradually improve and rebound. Short-term adjustments will not change the long-term upward trend.

The probability of the Federal Reserve cutting interest rates this year has increased.

Federal Fund Futures in the United States are generally rising, with the December contract rising by 14 basis points, implying a 17 basis point rate cut this year.

Pakistan calls for a two-week ceasefire. Trump says the U.S. is engaged in "intense negotiations" regarding a war with Iran.

The President of the United States, Donald Trump, has stated that there are "intense negotiations" currently taking place regarding the Iran issue.

The US bond market is showing uncommon differentiation, inflation impact is seen as temporary pressure, the market still trusts the Federal Reserve.

The US bond market is exhibiting a rare divergence, reflecting a significant deviation in investors' judgments on short-term and long-term inflation prospects.

The Prime Minister of Pakistan has stated that he has requested US President Trump to extend the deadline for Iran by two weeks and urged all parties in conflict to cease fire in all regions for two weeks in order to achieve a complete end to the Iran war through diplomatic means. He pointed out that diplomatic efforts aimed at peacefully solving the ongoing wars in the Middle East are progressing steadily. He also called on Iran to open the Strait of Hormuz as a gesture of goodwill in the next two weeks. The market quickly reacted to this information, with WTI crude oil falling by $2 in the short term, spot gold rising by nearly $40 and breaking through $4700, and US stocks edging higher.

"Elon Musk worship" sweeps the globe! SpaceX's mega IPO feast ignites a frenzy of commercial space investment.

SpaceX, founded and helmed by Musk, is about to go public, sparking a global influx of capital into smaller space exploration companies. Investors are eager to catch a ride on what could potentially be the largest IPO in history.

War wrong killing gives birth to gold mine! Wall Street sounds the horn of technological counterattack, will the "AI computing power team" take the lead in advancing?

Technology stocks are about to make a comeback after the valuation collapse! Goldman Sachs says technology stocks are entering an excellent investment window, with valuations lower than the overall stock market, making the technology sector increasingly attractive to investors.

Brent crude fell 2% intraday and is now trading at $107.53 per barrel.

Spot gold rose by almost 1%, closing at $4693.14 per ounce.

The London Metal Exchange's copper spot inventory increased by 29,500 tons, reaching the highest level since July 2024.

Samsung denies purchasing 20 ASML EUV lithography machines.

Regarding the news about "Samsung's extravagant purchase of 20 ASML EUV lithography machines worth 10 trillion Korean won", Samsung responded that this information is not true and the company has not made any related decisions to date.

Musk's "story" supports SpaceX's $2 trillion valuation! Starlink and rocket business provide backbone, success or failure of test flight determines schedule.

SpaceX and its bankers are preparing to hold an investor meeting to evaluate the demand for a potential IPO that could potentially raise the company's valuation to around $2 trillion.

New Stock News | Huaqin Co., Ltd. (603296.SH) is reportedly preparing for an IPO in Hong Kong with expectations to raise at least 600 million US dollars.

According to media reports, it is said that Huahin Technology (603296.SH) started pre-deal investor education in Hong Kong on April 7, with an expected transaction size of 600 to 800 million US dollars, subject to market conditions.

During the Cambrian period, the stock price jumped nearly 9% and rose above 1100 yuan.

Market "calm before the storm": Trump issues "destroy" warning to Iran, oil prices stabilize at high levels.

International oil prices remain stable near highs.

"Wal Street veterans" echoed Wells Fargo's bullish view: US tech stocks have lost their appeal, making long-term investment a "tempting buying point."

Adny believes that the correction in US tech stocks has provided an attractive entry point.

AI storage chip demand ignores the war clouds, Samsung's Q1 profit soars eight times higher than expected!

Samsung Electronics Co. achieved a quarterly profit increase that was eight times higher than expected, highlighting the strong demand for AI storage chips despite the market volatility caused by the Middle East conflict.

On-site research overturns mainstream judgment: Analysts from the Citrini faction personally went to Oman, claiming that the Strait of Hormuz is not completely closed.

Citrini Research stated that they dispatched an analyst to the Musandam Peninsula in Oman, where the analyst traveled by boat to the Strait of Hormuz to observe shipping activities.

JP Morgan warns: If the Strait of Hormuz remains closed, gasoline prices in the United States could surge to $5 per gallon.

JPMorgan: If the Strait of Hormuz remains closed, gasoline prices in the United States may surpass $5 per gallon.

Guotai Haitong: AI demand continues to rise, continue to pay attention to optical interconnection

Guotai Junan Securities released a research report stating that the industry's holdings have increased, and valuations have reached a historically high position, reflecting expectations for the AI industry chain to drive the sector upward.

Trump describes the latest Iranian ceasefire proposal as "still not good enough," reiterating that he is prepared to take military action.

US President Trump has stated that the latest ceasefire proposal presented by Iran is "still not good enough" and reiterated that if the Strait of Hormuz is not reopened before the deadline, the US will launch a massive attack on Iran's critical infrastructure.

Short covering totaling more than $1.45 billion, prompting a short squeeze, caused Bitcoin to bounce back and briefly exceed $70,000.

The price of Bitcoin broke through the $70,000 mark for the first time since March, rising over 4% to reach around $70,300.

Casey Department Store will be included in the S&P 500 index.

Standard & Poor's announced that Casey's General Stores will be added to the S&P 500 index, effective before the market opens on April 9. The company will replace Hologic. DigitalOcean Holdings will replace Casey's General Stores as a component of the S&P MidCap 400 index. Broadstone Net Lease will replace DigitalOcean Holdings and be included in the S&P SmallCap 600 index.

Broadcom and Google have reached a long-term agreement to collaborate on the development and supply of TPUs.

Broadcom and Google have signed a long-term agreement to collaborate on the development and supply of tensor processing units. Broadcom will research and supply custom TPUs for Google's next generation tensor processing units, as well as provide networking and other components for Google's new generation of AI server racks. The agreement is valid until 2031. In addition, Broadcom, Google, and the artificial intelligence company Anthropic are expanding their existing strategic partnership. Starting from 2027, Anthropic will receive approximately 3.5 gigawatts of computational power through Broadcom. The scale of Anthropic's use of this additional AI power will depend on its future business performance.

Neurocrine (NBIX.US) invests $2.9 billion to acquire Soleno (SLNO.US) to enter the field of metabolic diseases.

Neurocrine Biosciences announced on Monday that it will acquire the rare disease drug company Soleno Therapeutics for $2.9 billion in cash, marking the pharmaceutical company's expansion into the field of metabolic diseases from its focus on neuroscience.

Hormuz Strait is a no-talk zone! The "symbolic" increase in production by the eight major oil-producing countries failed to resolve the largest oil supply interruption in history.

Eight major oil-producing countries in the "OPEC+" alliance have decided to increase daily oil production by 206,000 barrels in May. However, this increase is insignificant in the face of the historical largest crude oil supply interruption with a gap of up to 11 million barrels per day and the continued disruption of navigation in the Strait of Hormuz.

Paramount Sky (PSKY.US) is in negotiations with the Gulf Sovereign Wealth Fund to inject nearly $24 billion to support the acquisition of Warner Brothers Discovery (WBD.US).

According to reports, Paramount Sky (PSKY.US) is currently in negotiations with three sovereign wealth funds led by Saudi Arabia, aiming to secure a commitment of nearly $24 billion in equity to support its acquisition of Warner Brothers Explorations (WBD.US).

In March, Foxconn's revenue was 803.74 billion New Taiwan dollars, an increase of 45.6% year-on-year. Revenue for the first quarter increased by 29.7% year-on-year.

The Hormuz Strait has reached a post-war record high in terms of navigation volume.

According to informed sources, Iran has established a classified mechanism for passage through the strait, divided into five levels. The more friendly a country is to Iran, the more likely they are to receive preferential conditions.

Musk denies SpaceX valuation of $2 trillion

Elon Musk often quickly refutes any false information involving himself or his companies on his social platform X. Bloomberg recently reported that SpaceX plans to launch its first IPO in the coming weeks, with a valuation of up to $2 trillion, a claim Musk dismissed as "nonsense". Bloomberg's report stated that SpaceX is aiming for a valuation of over $2 trillion in its IPO, potentially making it one of the largest public offerings in history.

"Xiaomi, ByteDance 'veterans' lead team to secretly plan AI new hardware at Meta"

Xu Rui believes that true AI hardware should not be "AI for the sake of AI", but rather should be able to utilize tools, drive projects, and solve physical world challenges that cannot be solved by old hardware.

Economists: US CPI may surge by 1% in March, making it difficult for the Fed to cut interest rates this year.

Economists say that the sudden increase in gasoline prices felt by American consumers will be fully reflected in the key inflation data to be released this week. It is forecasted that the US CPI will rise by 1% month-on-month in March, the largest single-month increase since 2022; core CPI may rise by 0.3% month-on-month. Prior to the release of CPI data, the Fed's favored inflation gauge will provide information on pre-war price pressures. Economists predict that the core PCE price index may rise for the third consecutive month in February by 0.4%, indicating that the process of inflation returning to a more moderate level has stalled even before the conflict erupts. Combined with signs of stabilization in the US labor market, persistent price pressures, and new inflation risks brought by the Middle East conflict, this helps explain why the Fed may have difficulty lowering interest rates this year.

EB SECURITIES: Shanghai Electric Group (02727) continues to make breakthroughs in emerging industries such as 25 years of nuclear fusion and Siasun Robot & Automation. We maintain a "buy" rating.

Shanghai Electric plans to distribute a cash dividend of 0.1425 yuan (tax included) for every 10 shares.

Iran rejects Trump's ultimatum.

Iran's armed forces central headquarters commander, Abdolrahim Hatamabadi, responded on the 4th to the "48-hour" ultimatum issued by U.S. President Trump, emphasizing that the Iranian military will firmly defend national rights, protect national assets, and make aggressors pay the price.

The U.S. Senate Banking Committee will hold a nomination hearing on April 16 for Kevin Warsh to serve as the next Chairman of the Federal Reserve.

Megawatt-class hydrogen fuel aviation turboprop engine first flight successful

On April 4th, the megawatt-level hydrogen fuel aviation turboprop engine AEP100 independently developed by China Aviation Power Group Hunan Power Machinery Research Institute was successfully flown with a 7.5-ton unmanned transport aircraft at Zhuzhou Lusong Airport. It is reported that this is the world's first test flight of a megawatt-level hydrogen fuel aviation turboprop engine. Throughout the entire flight, the engine operated normally with a good condition. The airborne flight time was 16 minutes, the flight distance was 36 kilometers, the flight speed was 220 kilometers per hour, the airborne flight altitude was 300 meters, and after completing the scheduled flight tasks, the aircraft successfully returned. The first flight was a complete success.

Governor of the People's Bank of China, Pan Gongsheng, meets with Governor of the Central Bank of Ethiopia, Yiuub Tekarien.

On April 2, 2026, Pan Gongsheng, Governor of the People's Bank of China, met with Yinoubu Tekarion, Governor of the Central Bank of Ethiopia, to exchange views on deepening bilateral financial cooperation and other topics.

Silicon Industry Sub Association: Spot and futures prices both decline, industrial silicon market operates weakly this week.

The Silicon Industry Association issued a document stating that the industrial silicon market continued its weakness trend this week.

World Cup tickets prices increase, with the most expensive ticket for the World Cup in the US, Canada, and Mexico exceeding 75,000 yuan.

After all 48 participating teams in the 2026 FIFA World Cup were confirmed, FIFA announced on the 1st local time that the final stage of ticket sales has officially begun. The highest-priced ticket for the World Cup final has been raised to $10,990, equivalent to 75,530 Chinese yuan. After the World Cup group stage draw ended in December last year, FIFA had initially priced tickets at $8,680, equivalent to 59,737 Chinese yuan. FIFA has also raised prices for various matches and different ticket categories. It is reported that ticket sales will continue until all matches are completed.

He Lifeng met with Canadian Minister of Finance Sean Fraser.

Hohhot: Vice Premier of the State Council, who is the leader of the China-Canada Economic and Financial Strategic Dialogue, met with the Canadian Minister of Finance and co-leader of the Canadian delegation, Shang Pengfei, in Beijing on the afternoon of the 3rd. He Lifeng said that the two sides should jointly implement the important consensus reached by the leaders of the two countries, deepen cooperation in economic, trade, financial and other fields, and promote the stable and healthy development of China-Canada economic relations. Shang Pengfei said that Canada attaches great importance to its relations with China and is willing to work with China to promote economic and financial cooperation and achieve more practical results. The two sides agreed to hold the Economic and Financial Strategic Dialogue in the second half of this year. He Lifeng and Shang Pengfei also jointly met with representatives of the China-Canada Financial Working Group and the Financial Institutions Roundtable, welcoming financial institutions from both sides to expand their business in the other's market.

Ministry of Industry and Information Technology: Risk Warning on Timely Updating iOS Specific Versions to Prevent Exploitation of Vulnerabilities

Recently, the Ministry of Industry and Information Technology's network security threat and vulnerability information sharing platform has detected that attackers are using exploit tools targeting vulnerabilities in Apple's terminal products to carry out network attack activities, which can lead to serious harm such as information theft and system control. The affected range includes Apple terminal products such as iPhones and iPads running iOS 13.0 to 17.2.1. Attackers use methods such as SMS, email, or poisoned web pages to induce users to access web pages containing malicious code using Safari browser, exploit security vulnerabilities existing in terminal devices, implant remote control trojans into victim terminal products, steal user sensitive information, obtain highest privileges, and take control. Users of Apple terminal products are advised to conduct risk assessments and promptly fix vulnerabilities by upgrading versions and installing patches.

The Ministry of Industry and Information Technology promotes inclusive computing power to empower small and medium-sized enterprises.

The Ministry of Industry and Information Technology recently issued a notice on launching a special action to empower small and medium-sized enterprises with inclusive computing power. It proposes to basically establish a universal computing power service system by the end of 2028 that covers a wide range, low cost, excellent service, vibrant ecosystem, and strong talent pool, covering not less than 10 categories in 15 industries applicable to the classification standards for small and medium-sized enterprises. The notice makes a series of arrangements around five key tasks, including action to improve the allocation of computing resources, action to enhance the inclusive supply of computing power services, action to empower key industry enterprises, action to jointly build industrial ecosystems, and action to enhance talent development capacity, such as encouraging the establishment of exclusive computing power pools for small and medium-sized enterprises; exploring innovative businesses such as "computing power banks" and "computing power supermarkets" to support small and medium-sized enterprises in depositing idle computing resources, etc. The notice also proposes to carry out a special action on "modular resonance" to promote the coordinated development of artificial intelligence model training and data resource utilization in small and medium-sized enterprises; organize activities to facilitate communication and collaboration among large, medium, and small enterprises; and conduct targeted talent training in a hierarchical manner. In terms of guarantee measures, the notice specifies that relevant parties should establish a sound local work promotion system, clarify tasks, timelines, and responsible parties, and provide necessary support for the special action of empowering small and medium-sized enterprises with inclusive computing power.

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Jiu Zhiyang: The company's independently developed space optical fiber amplifier has been applied to China Star Network, but has not yet been used in the Thousand Sails Constellation.

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