Tonight, it skyrocketed!

【Introduction】Tech Stocks Surge Again

Brothers and sisters, good news tonight: U.S. stocks are rising, and Chinese concept stocks are soaring! If nothing unexpected happens late at night, Hong Kong stocks should perform well on Tuesday!

Let’s take a look at what happened.

On the evening of March 16, the three major U.S. stock indices surged, with the Dow up about 400 points, the Nasdaq up approximately 1.2%, and the S&P 500 up around 1%.

In Chinese assets, the Chinese concept stock index temporarily rose over 2%, and the two major Hong Kong stock index futures also saw good gains in overnight trading!

Oil prices have fallen back, as efforts to restore Persian Gulf oil transportation intensify, market sentiment has noticeably improved.

As oil prices decline, easing concerns over inflation, U.S. Treasury bonds also rose. The dollar weakened, and Bitcoin broke through $73,000. Meanwhile, the London Metal Exchange has suspended trading of contracts for copper, zinc, aluminum, and other metals.

As the war with Iran enters its third week, Trump is increasing pressure on various countries, hoping for assistance to reopen this vital maritime route connecting the Persian Gulf to global markets. The International Energy Agency stated that emergency oil reserves could still be released if needed.

U.S. Secretary of the Treasury Janet Yellen said in an interview that the U.S. allows Iran to continue transporting oil through the Strait of Hormuz.

When asked whether there are other measures besides strategic reserves to ease rising oil prices, Yellen said it depends on how long the war lasts. She also pointed out that in a few months, oil prices are “very likely to be well below $80.”

Richard Sapershtan of Treasury Partners said, “While oil prices may temporarily break above $100 in the short term, we do not believe they will stay at this level long-term. As tensions ease and oil supply recovers to pre-crisis levels, prices will fall back.”

Trump stated over the weekend that Iran is ready to reach an agreement to end the war, but the U.S. wants better terms, including Tehran promising to abandon nuclear activities. Iranian Foreign Minister Amir Abdollahian denied seeking negotiations or a ceasefire.

In individual stocks, tech stocks led the market higher, with storage chip stocks among the top gainers. SanDisk surged nearly 8%, and Micron Technology rose about 5%.

Meta’s stock jumped 2%. On the news front, Meta plans to conduct large-scale layoffs. Additionally, Meta signed a $27 billion deal with Nebius to acquire AI infrastructure computing power, causing Nebius’s stock to soar 13%.

Nvidia’s stock rose over 2%. CEO Jensen Huang will deliver a speech at the company’s AI summit at 2 p.m. Eastern Time. Intel also hinted at announcing a significant partnership with Nvidia during the event, with its stock up 5%.

Produced by: Taylor