Real-time News

The onshore yuan closed at 6.9120 against the US dollar at 16:30 on March 4, down 123 points from the previous trading day.

Spain's composite PMI for February was 51.5, below the expected 52.9 and the previous reading of 52.9.

Spain's February services PMI came in at 51.9, below the expected 52.8 and the previous reading of 53.5.

The Hang Seng Index closed down 518.6 points, or 2.01%, at 25,249.48 on Wednesday, March 4; the Hang Seng Tech Index closed down 47.03 points, or 0.96%, at 4,829.5; the H-share Index closed down 124.76 points, or 1.45%, at 8,483.95; and the Red Chip Index closed down 67.19 points, or 1.53%, at 4,318.22.

On March 4th, Neuberger Berman portfolio manager Hakan Kaya stated that from a portfolio perspective, the most direct lesson from the Iranian crisis is that commodities are playing their proper role in such times, providing diversification when traditional assets struggle to price in geopolitical risks. Kaya anticipates a further acceleration in strategic stockpiling of various commodities. He pointed out that the crude oil market was already tight before the conflict due to increased demand and supply discipline; gold continues to attract buying as a store of value and a hedge against such geopolitical shocks. Industrial metals such as copper are still reflecting expectations of long-term supply scarcity, primarily related to electrification and infrastructure investment demand. Even if the geopolitical risk premium fades in the future, the logic for allocating to commodities remains valid.

On Wednesday, March 4th, the German DAX 30 index opened 119.98 points higher, or 0.51%, at 23,873.00; the UK FTSE 100 index opened 0.97 points lower, or 0.01%, at 10,483.16; the French CAC 40 index opened 16.81 points higher, or 0.21%, at 8,120.65; the Euro Stoxx 50 index opened 24.43 points higher, or 0.42%, at 5,796.16; the Spanish IBEX 35 index opened 67.27 points lower, or 0.39%, at 16,995.13; and the Italian FTSE MIB index opened 136.04 points higher, or 0.31%, at 44,604.50.

Taiwan's export orders rose 60.1% year-on-year in January, below the expected 50.87% and the previous month's 43.80%.

French Finance Minister: We will hold a meeting of G7 finance ministers and central bank governors early next week.

French Finance Minister: I will not tolerate fuel price increases exceeding the level that crude oil prices should reflect.

Futures News, March 4th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes on March 4th: 1. Pulp futures warehouse receipts: 138,011 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 15,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 3,920 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 24,640 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 54,110 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,557,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 62,730 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

March 4th - According to LatePost, Centurium Capital has won the bid for Blue Bottle Coffee and is close to finalizing the deal with Nestlé. A source close to Luckin Coffee stated that Centurium Capital will acquire Blue Bottle Coffee's global stores, while Nestlé will retain Blue Bottle's coffee machines and capsule business. Another source close to Centurium said the deal has been signed but not yet closed. When contacted for comment, Blue Bottle Coffee declined to comment.

An Israeli drone was shot down in Kerman, eastern Iran.

Switzerland's CPI rose 0.6% month-on-month in February, the largest increase since February 2025.

Switzerland's CPI rose 0.1% year-on-year in February, compared with a forecast of -0.1% and a previous reading of 0.10%.

March 4th - The Fourth Session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) opened in Beijing on the afternoon of March 4th. Li Shufu, a CPPCC member and chairman of Geely Automobile, stated in an interview that the new energy vehicle industry should avoid involutionary competition and instead focus on intrinsic development.