Global Geopolitical and Economic Volatility: Middle East Tensions Spark Market Unease, Tech and Pharma Sectors Continue to Evolve
Tensions in the Middle East persist as the conflict in Iran enters its 97th day. Although the U.S. House of Representatives passed a resolution to stop the U.S.-Iran war with a vote of 215 to 208—including four Republicans who broke ranks to support it—the peace process remains fraught with difficulties. Influenced by these events, international oil prices rebounded sharply, intensifying market concerns over resurgent inflation and dragging the Dow Jones Industrial Average down by 620 points.
Impacted by the sharp decline in U.S. stocks, Asian markets performed poorly today. Japanese and South Korean stocks opened lower, with the South Korean market seeing a more pronounced drop of 2%. Investors are uneasy about the global economic outlook, and the market sentiment has turned cautious, reflecting the direct impact of external economic volatility on Asian markets.
Regarding U.S. economic data, the Federal Reserve's latest "Beige Book" report shows that the U.S. economy is undergoing a "K-shaped" recovery. This means that the pace of recovery varies across different industries and social classes, leading to a further widening of the wealth gap. The report serves as a reminder to policymakers that behind the economic growth data, issues of uneven development persist.
In the technology sector and corporate transactions, Chinasoft International announced its entry into the computing power business and plans to purchase high-end AI servers in bulk within the year to keep pace with the rapid development of AI technology. Meanwhile, ASMPT has completed the sale of its wholly-owned U.S. subsidiary, ASMPT NEXX, to Applied Materials for over 900 million yuan, highlighting structural adjustments within the semiconductor equipment industry.
Significant progress has also been made in the pharmaceutical field. Hansoh Pharma's self-developed GLP-1 weight-loss injection, "Oleibopeptide," has had its marketing application accepted by China's National Medical Products Administration (NMPA), marking a major step for the company in the weight-loss drug market. Additionally, Everest Medicines saw its major shareholder, CBC Group, increase its stake by 690,000 shares in the open market, involving approximately 20 million yuan, demonstrating the major shareholder's confidence in the company's future.
Finally, in corporate dynamics and the IPO market, mainland wind power tower supplier Dajin Heavy Industry set its H-share offer price at 66.4 yuan per share, the upper limit of its price range, and fully exercised its offer size adjustment option. Meanwhile, Chongqing Iron & Steel saw personnel changes, as Vice Chairman Song Dean and Director Zhou Ping announced their resignations due to personal work reasons. These reports reflect how various industries continue to actively seek capital support and internal management adjustments amidst market volatility.