At the opening of the US stock market, the Dow Jones Industrial Average rose 0.63%, the S&P 500 rose 0.93%, and the Nasdaq rose 1.29%. Li Auto (LI.O) fell 3.2%, and the company's adjusted net profit in Q4 last year fell 12% year-on-year; Tesla (TSLA.

1. The central bank: Improve the macro-prudential management of real estate finance and improve the real estate finance system. 2. The State Administration of Financial Supervision and Administration: Continue to promote the expansion and efficiency of the urban real estate financing coordination mechanism, and resolutely do a good job in the delivery of houses. 3. Institutions: From January to February, the number of various types of foreclosure houses listed for auction in the national judicial auction market totaled 172,000, an increase of about 4.5% year-on-year. 4. Kunming: For employee families with two or three children who purchase their first self-occupied housing, the maximum amount of housing provident fund loans will be increased by 20% and 30% respectively. 5. Qingdao: For eligible young talents, housing vouchers will be issued according to the standards of 100,000 yuan for doctors and 50,000 yuan for masters. 6. The inventory of new houses in 50 cities decreased by 11% year-on-year, and the destocking cycle in many hot cities such as Beijing and Guangzhou is still more than 20 months. 7. Is the "small spring" in the Shanghai real estate market coming? Some intermediary stores sold 10 houses a day. 8. China Index Academy: 20 cities recorded a month-on-month increase in average residential rents in February. 9. Huizhou, Guangdong: 5 allocation-type affordable housing projects have been planned, with a total of more than 3,000 units. 10. China Resources Land's total contract sales in February were about 13.5 billion yuan, a year-on-year increase of 46.9%. 11. Wuxi Xishan District introduced a housing purchase subsidy policy, with a maximum subsidy of 50,000 yuan per unit. 12. The land supply plan for Jiaxing City in 2025 was released, with 104 hectares of commercial residential land, a year-on-year decrease of 16%.

[Market Watcher Tool·PTA Analysis] The sharp drop in PX prices triggered a bottom-hunting frenzy in the market, and PTA prices rose by $8 in a single day! Does the strange operation of manufacturers "buying while reducing production" indicate that prices are about to bottom out?