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Eurozone private sector activity growth has slowed to its lowest level in a year, as inflation rises due to the Middle East conflict. The initial PMI reading dropped to 50.5, with Germany and France showing divergent performances. Analysts warn that the risk of stagflation is increasing, and the European Central Bank may need to adjust its policies to cope with the economic slowdown and ongoing high inflation.

The three major stock index futures fell across the board, with OpenAI emphasizing dependency risks on Microsoft. Sumitomo Mitsui Financial Group plans to acquire Jefferies. JPMorgan downgraded SAP's rating, with Morgan Stanley projecting that AI competition will drive increased investment demand. SK Hynix plans to list in the US to raise $10 billion. Epic Games experienced service disruption due to drone attacks. Broadcom warns that TSMC capacity is approaching limits. Brent oil and gold prices rose.

On March 24, A-share optical fiber stocks surged across the board, buoyed by news that State Power Investment Corporation planned to invest 200 billion yuan. The investment will focus on clean energy and smart grids, signaling a significant increase in demand for optical fiber and optical cables. Related enterprises such as Yangtze Optical Fiber and Cable Company and Shi Jia Photonics will directly benefit, with the industry supply-demand landscape optimizing.

BlackRock increased its long position in Kuaishou Technology from 4.99% to 5.01%, with the change occurring on March 18, 2026. Kuaishou Technology will release its Q4 2025 and full-year 2025 earnings on March 25.

European manufacturing PMI data exceeded expectations, but the overall economy has retreated due to weakness in the service sector. Geopolitical conflicts have driven up manufacturing activity and costs, increasing the risk of stagflation. In the short term, the euro is supported by manufacturing, but weak services and geopolitical tensions may affect its medium-term trajectory.

On March 24th, benefiting from favorable domestic biomass power generation project subsidy policies, the biomass energy power generation sector surged 5.54%, with multiple stocks hitting daily limits. Biomass energy is rapidly rising globally due to its environmental and economic advantages. China's market size has reached $300 billion, with installed capacity exceeding 40GW, presenting broad prospects.

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(Editor in charge: HF120)
【Disclaimer】This article only represents the views of the cooperative contributor and does not represent the position of hexun.com. Investors should be aware that they bear the risks of any operations based on this content.
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On March 24, the A-share market warmed up, with the low-fee 800 cash flow ETF from China Merchants (159119) rebounding 0.75%, ending seven consecutive days of decline. The rebound was driven by market sentiment recovery and the appreciation of cash flow assets. Long-term capital continued to build positions, making it a preferred choice for conservative investors.

Jinyang Co., Ltd. mainly produces precision structural parts for batteries. In recent years, its performance has fluctuated due to policy influences and delays in customer payments. The company has a close partnership with BAK Battery, but its accounts receivable continues to grow, putting considerable pressure on debt repayment. The IPO fundraising plan is intended to enhance its capital strength and improve its financial situation.

# Translation: As of now, refined oil prices have been adjusted 6 times within 2026, with increases being the dominant trend. In March, refined oil prices completed two rounds of adjustments. On March 9, gasoline and diesel prices were respectively raised by 695 yuan/ton and 670 yuan/ton. And this time, on March 23, domestic gasoline and diesel prices per ton were respectively raised by 1160 yuan and 1115 yuan, which is lower than previously expected.
This is because the government intervened to regulate oil prices, so the national average gasoline and diesel prices rose by approximately 0.85 yuan per liter less.
As a result, the previously predicted scenario of 92-octane gasoline comprehensively entering the "9 yuan" era did not materialize.
For consumers, changes in oil prices directly manifest in rapidly rising refueling costs. From a broader macroeconomic perspective, its impact is gradually transmitting along the path from energy, logistics, manufacturing to end-user consumption.
Middle East Geopolitical Impact
From a fundamental perspective, this round of rapid oil price increases is due to changes in the geopolitical situation in the Middle East, particularly the critical shipping lanes [text appears to be cut off]

"Chinese Medicine Industry High-Quality Development Implementation Plan (2026—2030)" clearly outlines the development goals for the Chinese medicine industry over the next five years, focusing on raw material supply assurance, innovation and manufacturing capability improvements, aiming to build a coordinated industrial chain, cultivate flagship products, promote internationalization, and enhance the overall industry level.

HSBC report shows that AI data centers will drive U.S. power demand growth of 400% over the next decade. Grid connectivity becomes a key factor in site selection, with utilities facing infrastructure upgrade and environmental challenges. Power bills may be affected in the short term, but it is expected to promote the development of new energy technologies and smart grids.

Li Guanqin pointed out that the recent market stock index has been volatile, and although there has been a slight increase on declining volume, the broad-based rise in individual stocks is insufficient, and overall, it still requires patience to wait for a confirmed bottom. Market sentiment has warmed due to oversold conditions and external market influences, but short-term trading should mainly be cautious and observant.

Driven by cost reduction through parity pricing and market competition, wind turbine scaling is accelerating, placing higher demands on core components. Wuzhou Xinchun has become a beneficiary through technology accumulation and global layout. Global offshore wind power auctions are expected to reach historic highs in 2024, with 100GW of new capacity additions projected over the next two years. Wuzhou Xinchun's products cover the full range, benefiting from market expansion and forming technological and scale advantages.

Feihe Aiben and Xiaolánhuā Company held an exchange conference on "Special Medical Nutrition World," discussing the development and future strategy of the specialized medical nutrition industry, emphasizing the importance of specialized medical foods in chronic disease care and the context of aging populations. The conference showcased Feihe's specialized medical products focused on adult nutrition, promoting industry cooperation and innovation, advancing the standardization and popularization of specialized medical nutrition, and contributing to the vision of Healthy China.

As overseas factors' impact weakens, A-share market sentiment improves, and capital begins positioning in core assets. On March 23rd, the CSI A500 Index ETF experienced inflows of 1.146 billion yuan, bolstering market confidence. Improved performance of listed companies has strengthened investors' allocation confidence, with Huatai-Barclays A500 ETF becoming investors' preferred choice due to its scale and low fee rates.

Hexun Investment Advisor Wu Qingyu points out that the inflection point for NADC power generation localization has arrived, mainly reflected in the localization of overseas host supply chains and Chinese host manufacturers' breakthroughs in obtaining overseas orders. Various segments of the industrial chain, such as blades, hosts, and structural components, are welcoming low-risk investment opportunities.

European Central Bank official Vujčić warned that the stagflation risks arising from the Iran conflict are increasingly evident and could influence interest rate policies. The latest forecasts indicate that eurozone inflation has been revised upward to 2.6%, while economic growth has been lowered to 0.9% for 2026. The April meeting may become a pivotal moment for policy adjustments, requiring the central bank to strike a balance between flexibility and alertness.