Category: Flash News

On March 21st, Ecuadorian Energy Minister In é s Manzano stated on March 19th local time that the oil spill in Esmeraldas, a coastal province in the northwest of the country, was caused by human sabotage. Manzano said that after investigation, it was found that the cause of the oil spill in Esmeraldas province was not a landslide, but a man-made destruction event, with several rivers polluted and 500000 people without drinking water. Manzano said that the government is currently investigating the mastermind behind it. Preliminary statistics show that a total of 3800 barrels of crude oil leaked in this accident. The National Emergency Action Committee has declared an environmental emergency in the province of Esmeraldas.

On March 21st, the US State Department announced on March 20th local time that the US will reject Mexico’s request for a special canal for the Colorado River, which is not supported by a treaty and aims to transport water to the northwestern Mexican city of Tijuana, which borders the US.

On March 20th, the State Administration for Market Regulation and the National Archives Administration jointly formulated and issued the “Management Measures for Registration Archives of Business Entities”, strengthening the standardized management of registration archives of business entities and effectively protecting and utilizing them. The Measures will officially come into effect from today (20th). The Measures stipulate that during the existence of the operating entity, the registration archives should be continuously preserved. After the cancellation of the operating entity, the retention period of the registration archives is generally 20 years. The registration authority should regularly evaluate the preservation value of the registration archives that have expired and decide whether to destroy them or transfer them to the national comprehensive archives at the same level for permanent preservation.

On March 20th, scientists from the University of Washington, Massachusetts Institute of Technology, and Harvard University in the United States successfully carved a new material form on diamonds: a time quasicrystal. This breakthrough is expected to bring revolutionary impact to fields such as quantum computing and precise timing. The relevant research paper was published in the latest issue of Physical Review X.

On March 20th, the net revenue of Joyful Group in the fourth quarter was 549.4 million US dollars, a year-on-year decrease of 3.6%, and the market expectation was 550.4 million US dollars; Adjusted net earnings per ADS of $1.77, estimated at $1.24; The expected net revenue for the first quarter of next fiscal year is between $482 million and $490 million, with a market expectation of $490.3 million.

① 08:30 Australian February seasonally adjusted unemployment rate; ② 09:00 China February Swift RMB’s share in global payments, one-year loan market quoted interest rate until March 20th; ③ 15: Germany’s PPI monthly rate for February, Switzerland’s trade account for February, UK’s three-month ILO unemployment rate for January, February unemployment rate, and number of unemployment benefit applicants for February; ④ 16: 00 European Central Bank President Lagarde delivers speech; ⑤ 16: 30 Swiss central bank announces interest rate decision; ⑥ 19: 00 UK CBI industrial order difference in March; ⑦ 20: 00 Bank of England announces interest rate decision and meeting minutes; ⑧ 20: 30 US initial jobless claims for the week ending March 15th, fourth quarter current account, March Philadelphia Fed Manufacturing Index; ⑨ At 22:00, the total sales of existing homes in the United States in February are annualized, and the monthly rate of leading indicators by the Chamber of Commerce in February is 22:30 US EIA natural gas inventory for the week ending March 14th.

On March 20th, several wealth management subsidiaries, including Bank of China Wealth Management, CCB Wealth Management, Shangyin Wealth Management, and China Post Wealth Management, have recently issued intensive announcements announcing the reduction of their performance benchmark for their wealth management products. The lower limit of the performance benchmark for some products has fallen below 2%, and the performance benchmark for some wealth management products has been lowered by more than 200 basis points. Du Juan, a senior researcher at Su Shang Bank, told reporters that the continuous downward adjustment of performance benchmarks for wealth management products reflects a decrease in market expectations for future returns on underlying assets. This is related to the maintenance of low market interest rates, volatile adjustments in the bond market, the implementation of self-discipline mechanisms for interbank deposit rates, the gradual maturity of high-yield assets, and the scarcity of new high coupon assets; The second is to avoid the problem of excessive deviation between the actual yield of wealth management products and the performance benchmark, adjust investors’ expected returns, and avoid misleading; Thirdly, as the management and operation of wealth management products become increasingly standardized, the actual return rate follows market fluctuations, and the performance benchmark is correspondingly lowered. (Securities Daily)

On March 20th, the Shanghai Composite Index recently showed a slight consolidation trend after reaching a new high for the year. Taking into account various factors such as economic fundamentals, policies, and global market capital trends, multiple top tier private equity firms have stated that there is still a high probability that the market will maintain a fluctuating upward trend in the short to medium term. Currently, the overall valuation level of A-shares still has strong appeal. In addition, since the beginning of 2025, the technology sector has performed well, and the private equity industry’s expectations for traditional core assets have also significantly increased. (China Securities Journal)

On March 20th, data showed that as of March 19th, more than 120 listed companies in the A-share market have disclosed their 2024 annual reports and cash dividend plans, with the latest closing price calculating the dividend yield. Thirteen companies have a dividend yield of over 3%, with the highest exceeding 6%. From an investment perspective, although the dividend asset market has significantly cooled down since the beginning of this year compared to last year, the stable profitability and low valuation characteristics have actually made dividend assets have a strong safety margin. In the eyes of industry insiders, after the overall logic remains unchanged and the stock price is adjusted, it is the time to restructure the dividend sector. (China Securities Journal)

On March 20th, as the market increasingly values whether fund performance can outperform performance benchmarks, reporters have found that the “New Wide Fund” index represented by the CSI A500 has replaced the traditional market value wide fund index and gradually appeared in the performance benchmarks of public products. In addition, in order to evaluate performance based on more scientific and reasonable performance comparison benchmarks, some industry themed funds have further refined and adjusted their performance comparison benchmarks, resulting in a more diverse index composition. Compared to traditional market capitalization broad-based indices, industry insiders believe that indices with a “Smart Beta” compilation approach as performance benchmarks have less impact on the excess returns of fund products due to style rotation, and the excess return curve may be smoother, which can intuitively reflect the fund manager’s stock selection ability. Moreover, such indices will promptly include representative emerging industry companies, and funds can adjust their investment portfolios according to the indices, grasp new market trends, and obtain excess returns. As the anchoring effect gradually becomes prominent, future performance benchmarks may be more refined and personalized when formulated, and may also pay more attention to dynamic adjustments. (China Securities Journal)