EBC Markets Briefing | Asian markets jump; Pinterest shares skyrocketed

China's A50 jumped to the highest level in more than 3 months on Thursday. Trump reaffirmed that the war was "very close to over" with authorities in Tehran eager to agree a peace deal.

The market became the latest in Asia to recoup losses driven by the Iran war, fuelling optimism that investors are looking beyond the conflict to refocus on economic fundamentals.

The country's export growth declined to a six-month low in March as the Middle East conflict hit global demand outlook, while imports logged their strongest growth in more than four years.

The rising trade surplus helped accelerate the GDP growth in Q1 to 5%, above economists' forecast for 4.8%. Industrial output remained strong, while retail sales slowed sharply.

However, Chinese tech companies reported their weakest quarterly profit growth in three years, weighed by massive AI spending and fierce price wars in the e-commerce space.

Leading financial institutions UBS Group and Goldman Sachs Group in January expressed optimism about the performance of Chinese stocks this year, with the market getting off to a strong start.

The A50 index was heading towards the previous highs around 15,700, a level that proved hard to overcome. The base scenario is extension of the recent gains in the coming sessions.

Asset recap

As of market close on 15 April, among EBC major products, Pinterest shares led gains. The move appears most consistent with a rebound driven by ongoing buyback support and investor repositioning.

Monarch Tractor has ceased operations, with its core assets to be acquired by Caterpillar that is pursuing the shift to AI-powered equipment and self-driving technology in the agricultural sector.

Gold prices slipped from one-month high on dwindling safe haven demand. Central banks are pivoting from massive gold accumulation to selling, driven by war-related liquidity needs and currency volatility.

EBC Financial Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Global Financial Collaboration or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

#CHINA-A50##EBCFinancialGroup##EBCGroup##EBCGlobal#