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After Pakistani Prime Minister Shehbaz proposed the "Two-Week Plan," sources revealed that both the U.S. and Iran are expected to soon deliver good news, with a final agreement anticipated to be reached before the evening of the 7th local time. Earlier, Shehbaz posted on social media saying, "Diplomatic efforts aimed at peacefully ending the current Middle East conflict are progressing steadily and strongly, with tangible success expected in the near future." To leave room for diplomatic progress, he requested Trump to postpone the "deadline" by two weeks and also asked the "Iranian brothers" to open the Strait of Hormuz for two weeks as a gesture of goodwill. (CCTV News)

According to iFinD data from Tonghuashun, as of now, southbound funds have a net purchase of over 17 billion Hong Kong dollars, including over 12.44B Hong Kong dollars bought through the Shanghai-Hong Kong Stock Connect and over 4.64B Hong Kong dollars through the Shenzhen-Hong Kong Stock Connect.

Former Director of the U.S. National Counterterrorism Center Joe Kent resigned due to opposition to the Iran conflict and was subsequently accused of leaking classified information, currently under investigation by the FBI. In a program, he criticized Trump for relying on a small number of advisors for decision-making, leading to a lack of in-depth debate, and believed that Iran did not pose an imminent threat. Trump responded by saying Kent's resignation was "a good thing."

The Thailand Futures Exchange announced a temporary suspension of online silver futures trading.

Futures Market Review: As of the close, major commodities mostly declined. In terms of gains, LPG rose 10.99%, hitting the daily limit; low-sulfur fuel oil increased over 10%, crude oil and methanol rose over 8%, fuel oil, ethylene glycol, and propylene increased over 6%, apples, polypropylene, asphalt, and plastics rose over 4%; in terms of declines, Shanghai silver fell over 10%, palladium dropped over 8%, platinum and Shanghai tin declined over 7%, polysilicon and lithium carbonate fell over 6%, Shanghai gold, Shanghai copper, and international copper declined over 4%.

ETF closes mixed, the S&P Oil & Gas ETF (513350) leads with a 10.01% increase, the S&P Oil & Gas ETF Jiashi (159518) rises 10.00%, the Energy and Chemical ETF CCB (159981) gains 4.10%, the Gold Stocks ETF (159562) leads the decline with a 6.74% drop, the Gold Stocks ETF Yongying (517520) falls 6.7%, and the Gold Stocks ETF Hu'an (159321) drops 6.62%.

East China PTA spot prices have risen to 6,870 yuan/ton. On the supply side, due to processing margin compression, capacity utilization has decreased. Although demand has rebounded somewhat, polyester product inventories are rising, and end-users are cautious about high-priced raw materials. It is expected that PTA futures prices will remain volatile at a high level in the short term.

On the 19th local time, the Thai House of Representatives held a meeting to vote for the new Prime Minister. Proud Thai Party leader Anutin received support from more than half of the legislators and was elected as Thailand's 33rd Prime Minister. (CCTV News)

The 2026 Antitrust Work Conference was held in Xiamen, emphasizing the need to focus on the national unified big market and fair competition, improve the standardization of market rules, strengthen regulation, and work toward high-quality development, in order to contribute to the opening of the “15th Five-Year Plan.”

Stock index futures close at midday, with main contracts all declining. The CSI 300 stock index futures (IF) main contract fell by 1.31%, the SSE 50 stock index futures (IH) main contract fell by 1.29%, the CSI 500 stock index futures (IC) main contract fell by 2.37%, and the CSI 1000 stock index futures (IM) main contract fell by 1.90%.

Kuwait Petroleum Company stated that a set of production units at the MINA AL-AHMADI refinery was attacked by a drone on Thursday, causing a small-scale fire. (Cailian Press)

Spot gold falls below $4,750 per ounce, down 1.33% for the day.
NY gold futures fall below $4,750 per ounce, down 3.01% for the day.

According to iFinD data from Tonghuashun, as of now, southbound funds have net sold over 2 billion Hong Kong dollars, including over 1.64B Hong Kong dollars sold through the Shanghai-Hong Kong Stock Connect and over 361 million Hong Kong dollars sold through the Shenzhen-Hong Kong Stock Connect.

Sources from local officials indicate that recently, the Maotai distributors' association meetings were held in various provinces and regions, clarifying that non-standard Maotai products such as 15-year aged Maotai, boutique Maotai, zodiac Maotai, and kilogram Maotai will be fully implemented under a consignment sales system. According to the plan, these products must be sold externally through iMaotai at the official unified price, with channels able to extract a 5% sales commission (monthly settlement). Additionally, Maotai has set related assessment requirements. Note: Maotai's consignment sales system means that the ownership of goods remains with the manufacturer; distributors do not need to prepay the full amount of goods, only a deposit is required to carry out sales. (Cailian Press)

The East China ethylene glycol price has risen to 5,097 yuan/ton, with the basis strengthening. The escalation of geopolitical tensions and maintenance of domestic and international facilities have led to tight supply. It is expected that 550k tons will be destocked, and futures prices will remain strong. Attention should be paid to changes in operating rates and costs.

The copper price correction has driven companies to replenish their inventory for immediate needs, but companies continue to ramp up production. As a result, the raw material inventory days of major domestic cable companies this week decreased by 0.31 days compared to the previous week; regarding finished product inventory, the copper price rebound boosted downstream consumption, but when copper prices remain in a high range, it still suppresses terminal procurement willingness. This week, the finished product inventory days of major domestic cable companies decreased by 0.41 days compared to the previous week. (Shanghai Nonferrous Metals Network)

April 1st Anhui Yangtze River Steel Building Materials Guidance Prices: Rebar, coil rebar, and high wire are temporarily stable. The current prices from Hefei factory are as follows: seismic rebar 3,250 yuan/ton, seismic coil rebar 3,510 yuan/ton, high wire 3,510 yuan/ton; ordinary non-seismic of the same specifications at the same price. (My Steel Network)

As of the market close, the total trading volume of ETFs across both markets was 525.59B yuan.
By category, stock ETFs traded 150 billion yuan, bond ETFs traded 251.61B yuan, money market ETFs traded 24.97B yuan, commodity ETFs traded 24.28B yuan, and QDII ETFs traded 48.48B yuan.
Among the non-money market ETFs with the highest trading volumes, the top are China Asset Management CSI A500 ETF (512050), Southern CSI A500 ETF (159352), and Huatai-PineBridge CSI A500 ETF (563360), with trading volumes of 9.28B yuan, 7.51B yuan, and 7.46B yuan, respectively.

In 2025, Li Auto's revenue decreased by 22.3%, net profit plummeted by 85.8%, and deliveries totaled only 406.3k vehicles, missing the target and losing the sales champion title. Increased industry competition and lagging product iterations led to performance decline. The company plans to focus on AI transformation in 2026 and increase R&D investment to address challenges.