Hang Seng Index futures opened the day session up 0.62% at 24,998, trading 8 points below spot.

Omdia reports U.S. smartphone shipments fell 3% YoY in Q1 2026 to 33.4 mln units. The decline reflects a high Q1 2025 base after vendors and carriers pre-stocked ahead of potential U.S. tariffs. Demand was also restrained by more conservative carrier upgrade promotions, rising memory and storage costs, and launch delays that trimmed sales of key high-end models. Expectations of price increases prompted some channel pre-stocking of lower-end models ahead of Q2 2026.

EIA: U.S. oil demand in March rose 2.2% YoY to 20.383 mln b/d, compared with a 4.5% YoY increase in February.