A50, a sharp rally! The Shanghai Composite turns positive, gold prices rise! Trump: Iran war situation enters a "major day"

Turning Point?

On the morning of March 30th, the Asia-Pacific stock markets generally opened lower, and gold and silver also experienced a sharp decline at one point. Specifically, the Nikkei 225 Index and the Korea Composite Index both fell over 5% at the start, and as of press time, the Nikkei 225 Index had narrowed its decline to about 3.4%, while the Korea Composite Index’s decline had narrowed to less than 3%.

Spot gold and silver have now risen and turned positive, having previously dropped nearly 1.7% and 3% respectively.

In the A-share and Hong Kong stock markets, the Shanghai Composite Index and Shenzhen Component Index both fell over 1% at one point. By the time of the midday close, the Shanghai Composite Index turned positive, rising 0.23%, while the Shenzhen Component Index’s decline narrowed to 0.12%; the Hang Seng Index had at one point fallen over 2%, and the Hang Seng Tech Index had fallen over 3%, but both have since narrowed their declines to within 1% and 2%.

In addition, the FTSE China A50 Index futures saw a sharp rise and turned positive, currently up 0.32%, having previously fallen over 1%.

U.S. oil and Brent oil have significantly narrowed their gains.

In news, according to Xinhua News Agency, U.S. President Trump stated on the 29th that Iran has agreed to most of the terms in the “15-Point Plan” for a ceasefire. Trump said to the media on Air Force One, “They agreed to most of the terms. What reason do they have to disagree?”

Trump stated that the oil Iran would deliver to the U.S. would be shipped to “prove their sincerity.” “They have given us 20 tankers of oil, which will start shipping tomorrow.” Trump mentioned that he is still considering whether to take over the Iranian oil export hub of Khark Island, where U.S. troops may need to be stationed long-term.

On the same day, Trump also posted on social media that a “significant day” has arrived in the Iranian conflict, stating that the U.S. military has destroyed many “long-coveted” targets within Iran. It remains unclear which specific targets he was referring to.

Aluminum Stocks Surge in A-Share Market, Many Reach Daily Limit

The A-share market opened lower this morning but later narrowed its decline. As of the morning close, the Shanghai Composite Index turned positive, rising 0.23%, while the Shenzhen Component Index narrowed its decline to 0.12%.

In terms of sector performance, according to Shenwan’s first-level industry classification, the sectors of utilities, home appliances, power equipment, non-bank financials, and real estate had the largest declines.

The non-ferrous metals sector led the gains, with the sector rising by 1.8% during the session, where many aluminum stocks surged, with Liyuan Co. rising over 10%, and Minfa Aluminum, Yiqiu Resources, and Chang Aluminum reaching the daily limit.

In news, according to Xinhua News Agency, Bahrain and the United Arab Emirates recently confirmed that two large aluminum plants in their territories were attacked by Iran. The attacks resulted in injuries and property damage. On the 29th, the Iranian Revolutionary Guard stated that it struck two aluminum plants in the UAE and Bahrain related to U.S. military and aerospace industries using missiles and drones, in retaliation for U.S.-Israeli attacks on Iranian steel plants and other civilian facilities.

The construction materials, telecommunications, comprehensive, defense military industry, and pharmaceutical biology sectors had the largest gains. In terms of concept sectors, the seed industry concept, grain concept, and glyphosate concept sectors led the morning gains.

New Stock Yuelong Technology Surges Over 180%

Today, a new stock, Yuelong Technology, was listed on the A-share market, with its intraday rise exceeding 180%, later narrowing somewhat.

According to the prospectus, Yuelong Technology mainly engages in the research, development, production, and sales of flexible pipelines for fluid transport, including three major series of rubber hose products: marine engineering flexible pipelines, land oil and gas flexible pipelines, and industrial special hoses. The company’s core products differ from traditional rubber hoses, focusing on high-performance markets for extreme and complex conditions such as ultra-high pressure/high pressure, ultra-low temperature/low temperature, high temperature, corrosion, and erosion, customized according to application conditions and transport media, with key applications in marine oil and gas drilling equipment, deep-sea mining equipment, land oil and gas drilling equipment, large oil and gas storage fields, as well as engineering machinery, chemical, rail transit, food, and other fields.

Aluminum Corporation of China International Surges Over 29% in Hong Kong Stocks

The Hong Kong stock market saw overall adjustments this morning. The Hang Seng Index briefly fell more than 2%, and the Hang Seng Tech Index fell over 3%, with both narrowing their declines.

Among the Hang Seng Index constituents, Xinyi Solar, Baidu Group-SW, Sands China Limited, and Henderson Land Development led the decline; China Hongqiao and China Resources Land led the gains.

Among the stocks eligible for the Hong Kong Stock Connect, Aluminum Corporation of China International surged, with its intraday rise exceeding 29%, later narrowing its gain.

The annual report released by Aluminum Corporation of China International last night showed that the company’s net profit attributable to shareholders for 2025 is expected to be 258 million yuan, representing a year-on-year increase of 16.47%. Aluminum Corporation of China International focuses on non-ferrous and advantageous industrial sectors, deeply cultivating the domestic market within the Aluminum Corporation of China Group, as well as domestic and overseas markets outside the group. The total value of new contracts signed for the whole year of 2025 is expected to be 46.836 billion yuan, a year-on-year increase of 51.94%, with industrial contracts accounting for 97.73%. The company leads with technology, leveraging advantages across the entire industry chain to expand its EPC business, with new EPC contracts expected to total 28.32 billion yuan in 2025, accounting for 60.47%.

TCL Electronics surged, with its intraday rise exceeding 13%.

The announcement from TCL Electronics last Friday night indicated that in 2025, the group expects to achieve revenues of 114.583 billion Hong Kong dollars, an increase of 15.4% year-on-year; gross profit is expected to reach 17.900 billion Hong Kong dollars, an increase of 15.1% year-on-year. TCL Electronics stated that the group continues to strengthen its core capabilities, strictly controlling costs and expenses, managing operations finely, and comprehensively improving operational efficiency, with the overall expense ratio decreasing by 0.7 percentage points year-on-year to 11.1%. In 2025, the group expects to continue breakthroughs in product structure, technological leadership, and quality improvement, with healthy growth in business scale, combined with continuously improving internal operational efficiency, leading to a continuous optimization of the group’s overall profitability, with after-tax profits expected to increase by 36.7% year-on-year to 2.527 billion Hong Kong dollars, and adjusted net profit attributable to the parent expected to reach 2.512 billion Hong Kong dollars, an increase of 56.5% compared to 1.606 billion Hong Kong dollars in the same period last year.

Editor: Wan Jianyi

Proofreader: Su Huanwen