Category: Flash News

On March 20th, an oil depot in southern Russia was attacked by a drone and caught fire. On March 19th local time, the emergency department of Krasnodar Krai in southern Russia announced that an oil depot located in the area caught fire due to the wreckage of a drone falling, with a burned area of 1700 square meters. The oil depot has currently been shut down with no reports of casualties. According to Ukrainian media reports, a Ukrainian drone attacked an oil depot in the Krasnodar Krai of Russia in the early hours of the same day, and a fire broke out at the depot after the attack.

On March 20th, senior US government officials announced on March 19th that President Trump will sign an executive order aimed at closing the Department of Education on the 20th. According to USA Today, it is expected that Trump will sign the executive order at a ceremony at the White House, attended by several Republican governors and state education commissioners. The summary of the White House executive order shows that Trump will instruct Education Secretary Linda McMahon to take “all necessary measures” to push for the closure of the Department of Education and return educational power to the states.

On March 20th, earlier this year, in order to complete exports before US President Trump threatened to impose tariffs, a large amount of Canadian crude oil flooded into the United States, causing a sharp drop in local inventories. Nowadays, the scale of oil imports from Canada by the United States is significantly declining. Preliminary data from the US Energy Information Administration shows that the volume of crude oil imported by the United States from Canada fell to 3.13 million barrels per day last week, the lowest level since March 2023. Meanwhile, Enbridge Inc. stated that there is no need to allocate space on Canada’s largest oil export pipeline network next month, indicating that exports of crude oil to the United States may continue to remain low.

On March 20th, Chinese technology stocks, represented by the Hang Seng Technology Index, have continued to strengthen since March, while multiple Hong Kong and A-share technology related ETFs have continued to attract funds. According to statistics, as early as the fourth quarter of 2024, institutions began to lay out the upstream hardware of China’s AI industry chain. Currently, long-term funds in the Asia Pacific region and emerging markets have exceeded Chinese assets. At the current moment, multiple foreign institutions believe that breakthroughs in Chinese AI technology, represented by DeepSeek, have driven the rise of technology stocks in this round. With more favorable factors driving this trend in the future, it is expected to continue. (Shanghai Stock News)

On March 20th, large financial institutions in the United States are preparing for economic uncertainty. Despite Wall Street’s expectation that the capital market would regain vitality after the US presidential election ended in November last year, the US government’s tariff policies have gradually eroded this optimism. Several large financial institutions in the United States have announced layoffs. Among them, Morgan Stanley Bank plans to lay off 2000 employees by the end of this month, accounting for 2% to 3% of the company’s total workforce. JPMorgan Chase Bank began layoffs in February, expected to affect nearly 1000 employees. In addition to this round of layoffs in February, JPMorgan Chase will carry out multiple rounds of layoffs this year. Goldman Sachs Group has also accelerated employee performance evaluations, with an expected layoff of 3% to 5%, affecting nearly 1400 employees. BlackRock announced approximately 1% layoffs in January. Bank of America’s investment banking division has also cut 150 junior positions.

On March 20th, Bakkt Holdings reported a loss of $2.95 per share in the fourth quarter. In the fourth quarter, the operating loss was 11.7 million yuan, a year-on-year decrease of 85%. The company has appointed Akshay Naheta as co CEO.

On March 20th, the reform of public offering fees continues to advance, and fund holders are once again welcoming favorable news. On March 19th, several fund companies announced that some of their index fund index usage fees would be borne by fund managers. Industry insiders indicate that after the implementation of the above adjustments, all index fund usage fees in the industry will be borne by fund managers. (Shanghai Stock News)

On March 20th, European Council President Costa had a phone call with Ukrainian President Zelensky. Costa said that Zelensky’s communication with Trump has inspired him, and stopping attacks on energy and other civilian infrastructure will be an important and real first step in ending the conflict.

On March 20th, popular Chinese concept stocks fluctuated, with the Nasdaq China Golden Dragon Index falling 0.44%. Wanguo Data fell by about 14%, Baidu fell by over 4%, Tencent Music, Vipshop, and Jike fell by over 2%, while iQiyi, Ideal Auto, NIO, and JD.com fell slightly; Xiaopeng Motors rose by over 5%, Ctrip, TAL, Manbang, and NetEase rose by over 1%, while Alibaba and New Oriental saw slight increases.

On March 20th, the Russian Ministry of Foreign Affairs stated that Russia has lodged a solemn protest with the Moldovan Ambassador to Russia regarding the blockade of its diplomatic embassy in Moldova and demanded a prompt lifting of the provocative blockade. It is reported that on the 19th, Moldovan police received so-called news that there was a bomb inside the Russian Embassy in Moldova, and subsequently the Russian Embassy was completely sealed off for several hours. The Russian Ministry of Foreign Affairs stated that the Moldovan side has blatantly violated the Vienna Convention on Diplomatic Relations. At present, the blockade has been lifted.