每天导读-2025-03-26

Core Insights - The report highlights a significant decline in major stock indices, with the Hang Seng Index dropping by 2.35% to 23,344.25 and H-shares down by 2.65% to 8,616.05, reflecting ongoing uncertainties in US-China trade relations [2][7] - Economic indicators show a mixed performance, with Hong Kong's exports increasing by 15.4% year-on-year in February, while imports rose by 11.8% [8] - The report notes that the global economic outlook remains cautious, with the Boao Forum projecting Asia's weighted real GDP growth rate to rise to 4.5% this year, slightly above last year's 4.4% [10] Market Performance - The Hang Seng Index and H-shares experienced significant declines, with the former down 2.35% and the latter down 2.65% [2] - The Shanghai Composite Index and Shenzhen Component Index also fell, with the latter showing a larger decline [7] - Northbound trading in the Shanghai Stock Connect showed a net buy of 8.479 billion HKD, while the Shenzhen Stock Connect recorded a net buy of 5.416 billion HKD [7] Economic Indicators - Hong Kong's export growth for February was reported at 15.4%, significantly higher than the market expectation of 1.7% [8] - The US consumer confidence index for March was reported at 92.9, below the expected 94.0 [8] - The IFO business climate index in Germany remained stable at 86.7, indicating a cautious outlook for the European economy [8] International Economic News - Former Fed Vice Chair Lael Brainard indicated that there is still room for a 25 basis point rate cut, suggesting that the Fed is in a favorable position for policy adjustments [10] - Trump's chief economic advisor downplayed the short-term impact of tariffs on the US economy, suggesting that the effects would primarily affect foreign economies [10] - The European Central Bank's officials expressed concerns about the high risks of economic downturn in the Eurozone [10] Corporate News - Standard Chartered's CFO indicated that net interest income growth is expected to face pressure this year, but the bank plans to leverage its customer network to boost fee income [9] - XPeng Motors announced a patent for a bipedal robot, addressing technical challenges in maintaining a single-leg stance [9] - Galaxy Entertainment is considering a multi-billion dollar investment in a proposed casino and entertainment complex in Bangkok, reflecting optimism in the post-pandemic tourism recovery [9]