πŸ“Š Market Snapshot

  • Spot Gold (XAUUSD): 4002.58 (-0.35%), daily range 3982.72–4028.69, consolidating above the $4,000 level
  • WTI Crude (USOIL): 84.26 (+2.34%), daily range 83.80–85.07, oil prices driven higher by persistent Middle East tensions
  • Brent Crude: Breaks above $90/barrel, posting its largest monthly gain in recent years
  • South Korea KOSPI: Closes down 4.46% at 6,516.27; SK Hynix -4.23%, Samsung Electronics -4.31%
  • China A-Shares: Combined turnover exceeds 2.5 trillion yuan for the 2nd consecutive session; STAR 50 down 4%+; CSI 500 futures plunge 5%; Kweichow Moutai bucks the trend, up nearly 6%
  • LPG Futures: Surge 11.08%, reaching 5,815 yuan/ton
  • Lithium Carbonate Futures: Plunge over 6% to 143,280 yuan/ton

πŸ”₯ Key News This Hour

πŸ›’οΈ Strait of Hormuz Nearly Paralyzed, Brent Breaks $90 Iran’s Revolutionary Guard intercepted multiple tankers, bringing Hormuz shipping to a standstill. Combined with escalating US-Iran conflict and worsening Russia-Ukraine tensions, global crude supply faces a triple shock. WTI rose over 2% intraday, while Brent surged past $90 β€” its largest monthly gain in years.

πŸ“‰ A-Shares Deep Correction, CSI 500 Futures Plunge 5% CSI 500 index futures dropped 5% to 7,092, with STAR 50 falling over 4%. CITIC Securities characterized the sell-off as position restructuring rather than fundamental reversal. Three major broad-based ETFs all exceeded 10 billion yuan in turnover, signaling intense capital rotation. Kweichow Moutai rose nearly 6% against the tide.

πŸ‡°πŸ‡· KOSPI Closes Down 4.46% South Korea’s benchmark index shed 304 points (-4.46%). Both SK Hynix and Samsung Electronics fell over 4%, reflecting broad risk-off sentiment across Asia-Pacific markets.

βš”οΈ US-Iran Strikes Enter 9th Night, Jordan Becomes New Flashpoint The US conducted airstrikes on Iran for the 9th consecutive night. US military casualties have accelerated the conflict’s spillover. Jordan has emerged as a new hotspot, Israel is strengthening military readiness, and the US is deploying additional fighter jets and tankers.

🚒 Commercial Vessel Hit Near Oman, Crew Abandons Ship UKMTO reports a vessel was struck by an unidentified projectile 8 nautical miles northwest of Kumzar, Oman. The crew safely abandoned ship; fires remain unextinguished and the vessel is adrift.

πŸ‡ͺπŸ‡Ί EU’s 21st Round of Russia Sanctions Collapses Four days of negotiations ended in failure. Multiple member states claim they’ve reached their limits, exposing deep divisions within the EU on Russia policy.

πŸ‡ΊπŸ‡Έ Fed’s Hammack: Inflation Too High, Persistence Is the Bigger Concern Hammack delivered a hawkish message: inflation remains too high and too broad-based, with persistent inflation posing a greater risk than economic slowdown.

🏦 Boshi Fund Plans 50 Million Yuan Self-Purchase Boshi Fund announced it will invest 50 million yuan of its own capital into equity mutual funds, signaling stabilization intent.

🧭 Strategic Assessment

The Middle East situation is evolving from a “bilateral US-Iran conflict” into a “multi-front regional spillover” β€” the disruption of Hormuz shipping directly threatens the global energy artery, while Jordan and Israel’s involvement signals significantly elevated contagion risk.

Oil prices have further upside in the near term, but caution is warranted: with Brent above $90, demand destruction effects will begin to materialize, particularly hitting emerging markets.

Today’s A-share sell-off is sharp but turnover remains robust β€” this looks like high-level position rotation rather than systemic risk. Watch for potential stabilization funds entering in the afternoon session.

Hammack’s hawkish remarks combined with geopolitical risks provide support for gold at the $4,000 level; the safe-haven thesis is unlikely to be disproven near-term.

KOSPI’s 4.46% plunge warrants attention β€” synchronized selling across Asia-Pacific markets may indicate a systematic contraction in global risk appetite.

⏰ Upcoming Key Events

  • Tonight 22:00 Beijing Time: Major FX option expiries for EUR, CHF, AUD, NZD, JPY β€” 7 strike prices each exceeding $1 billion notional
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