PBOC conducted CNY80 bln of overnight reverse repos today; with CNY56 bln of 7-day reverse repos maturing, net liquidity injection amounted to CNY15 bln.

Zhongtai Securities says it remains constructive on the tech-innovation theme medium- to long-term, noting that technology-focused financial support and capital-market financing reforms in China should improve funding conditions for quality tech firms. After a sizeable recent correction in tech-growth stocks, it recommends selective exposure to AI, semiconductors and high-end equipment companies with core technology advantages, visible order growth and stable profitability. The firm cautions sector momentum will depend on overseas interest-rate dynamics, global risk appetite and changes in corporate earnings.

美國官員：目標是在與烏克蘭及歐洲取得的進展基礎上，繼續推進相關工作，並與俄羅斯討論有關提議。