U.S. chip stocks surge, Seagate Technology rises 7% to a new high, Chinese assets climb overnight

Ask AI · Seagate’s Innovation Hits a Record High—What Rationale Does Morgan Stanley See?

Reporter丨Zhang Jiayu

Editor丨Liu Xueying

On April 6, the three major U.S. stock indexes all turned positive in unison. As of 22:00, the Dow rose 0.17%, the Nasdaq rose 0.55%, and the S&P 500 rose 0.34%.

U.S. large-cap tech stocks were mixed. Apple and Amazon rose by more than 1% each to lead the “Magnificent Seven.” Tesla fell 0.53%, Nvidia fell 0.27%, and Microsoft fell 0.22%.

The chip and memory sector generally rose. The Philadelphia Semiconductor Index surged after the opening, up 1.6%. Micron Technology rose more than 3%, and SanDisk rose 2.6%. Seagate Technology jumped 7.6%, setting a record high during the day. According to a report from Caixin Global, Morgan Stanley had previously included the stock on its preferred-holdings list.

U.S. crypto-related concept stocks moved higher. Strategy, Circle, and BMNR rose by more than 4%, MARA rose nearly 4%, and Coinbase rose by more than 3%.

Several popular China concept stocks rose. The Wind China Concept 100 Index led the gains. UBTech Robotics rose by about 100%, with a peak rise of more than 145%. In chemicals, Deckson rose by nearly 7%, while Wanwu Shengsheng (All Things New) and EHang Smart rose by about 5%. On the downside, iQIYI fell by more than 3%, while Huya and Aptos Solar fell by more than 2%. Kingsoft Cloud, Vipshop, and Tencent Music fell by more than 1%.

FTSE China A50 futures strengthened; as of the time of this release, they were up 0.44%.

In commodities, gold and silver moved both ways. As of the time of this release, spot gold rose 0.19% to $4,680.8 per ounce, while spot silver fell 0.27% to $72.815 per ounce.

Crude oil rose in the short term. WTI crude rose by more than 1%, and ICE Brent was up slightly by 0.03%.

Crypto prices climbed. Bitcoin briefly rose to above $70,000. As of the time of this release, Bitcoin was up 3.38% and Ethereum was up 4.87%. In the most recent 24 hours, more than 80,000 people worldwide were liquidated, with a total liquidation amount of $315 million.

On the news front, citing U.S. media, Xinhua News Agency reported on April 6 that a White House official said the 45-day ceasefire plan between the U.S. and Iran is only “one of many options” currently under discussion. The White House official said that U.S. President Trump has not yet approved the plan, and that U.S. military actions against Iran are still ongoing.

Previously, citing a report from the British side, Xinhua News Agency reported on April 6 that a source said the U.S. and Iran have received proposals for a ceasefire agreement, and that the plan may take effect on April 6. On April 6, local time, a senior Iranian government official said that they had received the latest ceasefire proposal submitted by the mediator, Pakistan, and are currently reviewing the relevant contents.

(Disclaimer: The article content is for reference only and does not constitute investment advice. Investors bear the risks of acting on it.)

Produced by丨21 Finance Client 21st Century Business Herald