White House National Economic Council Director Hassett: The strong U.S. economy provides a safety net for Asia.

Key News 1. RatingDog China Services PMI reached 52.1 in March, marking the 39th consecutive month of expansion. 2. Seven departments, including the Ministry of Industry and Information Technology, announced: They will coordinate the use of existing policy funding channels, such as those for new infrastructure and new urbanization, to support the upgrading and renovation of aging equipment in the petrochemical and chemical industries that meet the eligibility criteria. 3. Two departments jointly deployed a new round of crackdowns on clustered illegal and criminal activities related to "black and gray industries" in the financial sector. 4. Mandatory national standards for mobile power bank safety have been released to comprehensively improve safety. Individual Stock News 1. Data on main force capital flows shows that PetroChina Capital saw the largest net inflow of main force capital at 1.294 billion yuan, followed by Zhongji Xuchuang, Tongyu Communication, Hengtong Optic-Electric, and Tianfu Communication. CATL saw the largest net outflow of main force capital at 2.302 billion yuan, followed by Sungrow Power, Zhongli Group, BYD, and Zhongchao Holdings. 2. Hygon Information released its first annual version of the DCU software stack, building an AI security barrier. 3. Ugreen and CATL (Contemporary Amperex Technology Co., Limited) have reached a strategic cooperation agreement. 4. Saiwei Electronics: The company's OCS chips are currently in the trial production stage and have not yet entered mass production. 5. Xiuqiang Glass: The company's deep-processed glass products have not yet been applied to the aerospace photovoltaic field. 6. Hongming Electronics: Some of the company's electronic components have been applied to the commercial aerospace field. 7. BOE Technology Group Co., Ltd.: The company expects its AMOLED shipments to continue to grow in 2026, with a target of 160 million units. 8. Soling Technology: Some projects in the fields of intelligent cockpit and intelligent connected vehicles have entered mass production or been delivered in small batches.

A-share coal concept stocks weakened in early trading, with Yunnan Coal Energy and Chitianhua falling by more than 7%, Shaanxi Black Cat and Zhengzhou Coal & Electricity falling by more than 6%, and Tianyuan Shares and Lanyan Holdings following suit.