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Market news: The Romanian Prime Minister has vowed to remain in office regardless of the outcome of the party vote.

On April 17th, it was reported that from April 15th to 16th, Li Yunze, Secretary of the Party Committee and Director of the State Financial Regulatory Commission, led a team to Guangdong Province for research. The team held discussions and exchanges on topics such as high-quality development of financial services, strengthening central-local government coordination, and promoting reform and risk mitigation. They also visited relevant enterprises and research institutions, and extended their regards to grassroots cadres and staff. In Foshan, Li Yunze conducted on-site research at new research institutions and intelligent factories, learning about the progress in key core technologies such as new display equipment and the development of major equipment, and toured digital and intelligent production lines. He emphasized that financial institutions should closely follow the direction of industrial development, strengthen full-cycle financial service guarantees, and continuously increase support for technological innovation, advanced manufacturing, and the transformation and upgrading of traditional industries.

Tissa Party leader Majol: Oil flow through the Friendship Pipeline may resume next week.

April 17th - The Rules consist of eighteen articles. The first article outlines the basis for the rules. Articles two through seven, the "Recognition" section, clarify the connotations and specific circumstances of "transfer of securities," "transfer of securities during a restricted transfer period," and "transfer of stocks that does not comply with laws, administrative regulations, and the regulations of the securities regulatory authority under the State Council" as stipulated in Article 186 of the Securities Law, as well as the identification of illegal entities acting in concert. Articles eight through seventeen, the "Discretionary" section, differentiates four types, sets different levels of discretion, and provides an enumeration of circumstances for adjusting penalties. It also provides suggestive provisions regarding concurrent penalties and the application of the most severe penalty, the circumstances for adjustment, and market bans.

China Tower (00788.HK): First quarter revenue was RMB 25.146 billion, up 1.5% year-on-year; profit attributable to shareholders of the company was RMB 3.985 billion, up 31.8% year-on-year.

On April 17, the China Securities Regulatory Commission (CSRC) publicly solicited opinions on the "Measures for the Determination of Illegal Gains in Administrative Penalty Cases of the China Securities Regulatory Commission (Draft for Comment)." The CSRC stated that when a party commits two or more similar illegal acts, with both profits and losses from different acts, whether to offset profits and losses when calculating illegal gains is a key issue in the draft, particularly evident in market manipulation cases. The draft measures stipulate that illegal gains from two or more independent illegal acts should be calculated separately, and profits and losses from different acts should not be offset against each other.

April 17th - According to foreign media reports, fuel prices have recently surged across the United States, and gasoline inventories in California have fallen to record lows. Analysts warn that the full impact of supply disruptions caused by the Strait of Hormuz closure on California has not yet materialized. According to data from the American Automobile Association (AAA), as of Thursday, California drivers were paying an average of $5.86 per gallon for fuel, the highest in the nation, far exceeding the national average of $4.09 per gallon. Analysts say that because California relies on refined petroleum products from Asia, supply tightness is expected to worsen further, making California one of the first regions in the U.S. to feel the supply shock from the Strait of Hormuz closure. A spokesperson for the California Energy Commission stated, "The Commission is in close communication with all refineries in the state to ensure sufficient transportation fuel supplies during this turbulent period of supply contraction caused by the actual closure of the Strait of Hormuz."

Indian government officials predict that demand for liquefied petroleum gas (LPG) in India will decline during the summer.

On April 17th, the Asset Management Association of China (AMAC) released the "Guidelines for Performance Appraisal Management of Fund Management Companies." The guidelines stipulate that fund management companies should optimize their compensation structure, balance compensation standards and levels among different positions and job levels, strengthen extreme value control and differential management, promptly adjust excessively large or unreasonable compensation gaps, and increase support for frontline and grassroots employees. Fund management companies should prudently control the average compensation increase for middle and senior management personnel, which should, in principle, not exceed the company's average compensation increase.

On April 17th, the Indian government issued a notice on Friday allowing 15 banks to import gold and silver from April 1, 2026 to March 31, 2029. This followed previous policy confusion that had caused these precious metals to be blocked at customs. The notice listed the banks authorized to import the precious metals. Surendra Mehta, National Secretary of the Gold and Jewellery Merchants Association of India, stated that the notice resolved the import issues. Gold purchases in India are closely linked to religious festivals and weddings. Festivals such as Akshaya Tritia on April 19th often trigger peak demand as families purchase gold jewelry, coins, and bars for cultural and investment purposes. However, in recent months, Indian consumption has slowed due to high prices suppressing consumer demand. Madavi Arora, an economist at the Indian Economic Services Corporation, stated that this situation does not appear to be intentional "or a complete gold ban, but rather a temporary glitch and administrative delay."

According to AXIOS: The CEO of Anthropic will meet with the White House Chief of Staff at the White House on Friday.

The Russian Ministry of Defense stated that Russian air defense systems shot down 60 guided bombs and 1,665 drones belonging to the Ukrainian armed forces in the past week.

April 17 – As French President Emmanuel Macron and British Prime Minister Keir Starmer convened a leaders' meeting late Friday to discuss the Middle East, European countries have diverged on how to carry out the task of securing the Strait of Hormuz. According to sources, the main point of contention between Germany and France centers on whether the United States will participate. German Chancellor Merz wants the US involved, while France insists that only “non-belligerent states” should join. Any participation from these countries can only occur after peace is achieved in Iran. Washington was not invited to the meeting; Macron, Merz, Starmer, and Meloni will attend in person, while other leaders will participate via video. Sources indicate that the Élysée Palace has outlined three priorities: clearing mines from the strait; ensuring free passage for ships; and protecting international freedom of navigation rules.

The Russian Ministry of Defense stated that Black Sea Fleet forces destroyed five unmanned vessels belonging to the Ukrainian armed forces this week.

The Russian Ministry of Defense stated that this week, Russian forces launched five large-scale strikes against military targets in Ukraine.

Bank of England Deputy Governor Lester Brident: The difference is that we now have a more resilient banking system and a focused approach. We monitor the situation, enhance its resilience as much as possible, and have targeted measures in place to address potential stress.