CHINA WEATHER: RAIN TO PERSIST SOUTH OF THE YANGTZE RIVER OVER NEXT THREE DAYS; SOUTH CHINA HEAT TO INTENSIFY WITH POSSIBLE RECORD HIGHS

市場消息：曹操出行(02643.HK)押注無人駕駛出租車和AI，力爭實現首個年度盈利。

China’s equities and government bonds have moved in lockstep for the first time in two years, with the 90-day correlation between the CSI 300 Index and China Treasury Total Return Index turning positive from March 18, according to data. The shift reflects China’s relative safe-haven appeal during the US-Iran conflict, supported by limited exposure to the Middle East shock, policy support, and liquidity conditions. Chinese onshore stocks gained 4.4% for the week, while long-end bond yields fell about six basis points. The 10-year yield rose only three basis points over the period, far less than increases in US, German, and French yields. Analysts including Citic Securities’ Ming Ming and ANZ’s Xing Zhaopeng cited renminbi strength, loose liquidity, easing deflationary pressure, and foreign inflows as drivers, though some warned the correlation may fade once geopolitical risks ease and domestic weaknesses such as weak consumption and property downturns resurface.