Economic Indicators - The US GDP contracted by 0.3% in Q1, marking the first decline in three years, significantly below the average growth rate of approximately 3% over the past two years[11] - Consumer spending growth fell to its lowest level in nearly two years, indicating a slowdown in economic activity[8] - The US manufacturing sector experienced its largest contraction in five months, with the ISM manufacturing index dropping to 48.7, indicating a contraction phase[11] Market Performance - The Shanghai Composite Index decreased by 0.23% to 3279.03 points, while the Shenzhen Component rose by 0.51% and the ChiNext Index increased by 0.83%[1] - The Hang Seng Index gained 0.51% to close at 22119.41 points, with the Hang Seng Tech Index up by 1.35%[1] - The total market turnover in Hong Kong reached 2015.53 million HKD, reflecting increased trading activity[1] Sector Highlights - The automotive parts sector showed strong performance, leading the gains in the market[1] - Precious metals rebounded, contributing to the overall positive sentiment in the consumer sector[1] Geopolitical Developments - President Trump announced secondary sanctions on countries purchasing Iranian oil, escalating tensions amid stalled nuclear negotiations[8] - The sanctions are expected to impact major buyers like China and India, which have traditionally been the largest importers of Iranian crude[8]