A-share pre-market report | Dawn in the Middle East! Crude oil and gold plunged, US stocks light communications concept leader rose 10%

Pre-market News 1. Dawn in the Strait of Hormuz, oil prices plummet! US stocks and bonds stabilize, gold plunges 6% Type: Market Sentiment: Positive Israeli Prime Minister Netanyahu stated that Israel will "comply" with President Trump's request to "pause" further airstrikes on energy facilities. This statement caused oil prices to plummet, easing market pressure. US stock indexes recovered most of their losses in the last hour before closing, with US bonds stabilizing. Gold faced intense selling pressure in the macro environment of hawkish central banks and surging global bond yields. Spot gold plummeted by 3.5%, dropping below $4500 per ounce, hitting a six-week low. 2. Central Bank: Implementing a moderately loose monetary policy, firmly maintaining the stable operation of the stock and other financial markets Type: Macro Sentiment: Positive The Communist Party Committee of the People's Bank of China held an enlarged meeting, where they stated their intention to continue to implement a moderately loose monetary policy. They will focus on supporting key areas such as expanding domestic demand, technological innovation, and small and micro-enterprises, while optimizing structural monetary policy tools. They will fully leverage the central bank's macro-prudential management and financial stability functions to firmly maintain the stable operation of the stock, bond, foreign exchange, and other financial markets. They will also advance legislation and amendment of laws related to the People's Bank of China and financial stability. 3. Ministry of Finance: Securities trading stamp duty reached 49.9 billion yuan in the first two months of this year, an increase of 1.1 times year-on-year Type: Market Sentiment: Positive The Ministry of Finance announced the fiscal revenue and expenditure situation for January and February 2026. Data shows that the stamp duty for the first two months was 114.3 billion yuan, a 34.7% increase year-on-year. Among them, the stamp duty for securities trading reached 49.9 billion yuan, an increase of 1.1 times year-on-year. A spokesperson from the Ministry of Finance stated that this was mainly due to active trading in the stock market and increased transaction volume. 4. Securities Regulatory Commission held a symposium on the "15th Five-Year Plan" for the capital market investment institutions, mentioning long-term capital entering the market, etc. Type: Macro Sentiment: Positive Chairman Wu Qing of the Securities Regulatory Commission held a symposium in Beijing. The meeting proposed important breakthroughs in the construction of China-specific market stabilization mechanisms, promoting the entry of long-term capital into the market, and enhancing investor returns. Participants put forward specific suggestions on how to further deepen investment-side reforms, increase the adaptability of institutional inclusiveness, and strengthen the inherent stability of the capital market. Investment Calendar Huawei China partner data storage summit Investment Tips Investment Tips: Every investor must understand that what deepens moats as time goes by are "assets," and what becomes more detrimental to business over time are "costs." -Zhang Lei's "Value" Institutional Views 1. Huatai: Market breakthrough may require verification of economic data and annual reports in mid to late March. 2. Hualong Securities: Despite geopolitical disturbances, there are still multiple favorable factors supporting the market's stable operation. 3. Orient: As the conflict deepens, the market has taken a cautious stance and will continue its bottoming journey in uncertain circumstances. Upcoming Market Prospects 1. Fiber optic communication conference releases strong demand signals! US stocks in the optical communication sector rise 10% Type: Market Hot Topic Wanlian Securities: LightCounting has raised its forecast for shipments of 800G and 1.6T optical modules. It is expected that by 2026, shipments of 800G optical modules will more than double, and shipments of 1.6T optical modules will grow from a small base in 2025 to tens of millions of ports. 2. Ministry of Industry and Information Technology: Developing the new materials industry, enhancing the independent security level of key materials in key areas Type: Market Hot Topic EB SECURITIES: In the context of escalating security games, the domestic logic of "supply security + domestic substitution" for key semiconductor materials is strengthening marginally. Focus on leading companies in high-end materials with technical accumulation, production capacity, and deep ties with downstream wafer fab clients. 3. Alibaba: Pingtouge's independently developed GPU achieves mass production Type: Market Hot Topic Yongxing Securities: With the rapid development of downstream applications like AI and data centers, the demand for high-performance computing accelerator chips is expected to grow significantly; the GPU industry chain's attention from capital may enhance the process of domestic substitution of GPUs and promote the independent controllability of GPU core technology. Express Announcements Slightly Positive Announcements 1. Hubei Dinglong: Construction and operation of the 300-ton/year KrF/ArF photoresist industrialization project 2. China Jushi Co., Ltd: Net profit reached 3.285 billion yuan in 2025, a 34.38% year-on-year increase 3. East Money Information: Net profit reached 12.085 billion yuan in 2025, a 25.75% year-on-year increase Slightly Negative Announcements 1. Shenzhen Longsys Electronics: Directors Li Zhixiong and Vice General Manager Gao Xichun plan to collectively reduce their holdings by up to 2.423 million shares 2. Sino Geophysical: Vice General Manager Zhang Hui placed under investigation 3. Guangdong Shunna Electric: Shareholder Zhang Mingyuan to reduce holdings of 6.9 million shares of the company between March 12 and March 18 Overseas Markets Self-Selected Brother Reminders: US stocks oscillated for two consecutive days, with all three major indexes closing lower but with significantly narrowed losses during the trading day. Optical communication and storage chip stocks bucked the trend, with SanDisk continuing to hit new highs; most popular Chinese stocks declined, with Alibaba falling by 7.09%. This article is reprinted from "Tencent Self-selected Stocks," Edited by Chen Xiaoyi.