Pre-market report on A-shares | Is the US willing to cease fire? Global assets surge Token Chinese name confirmed! The rise of "word element economy"
It is reported that the US government has proposed a 15-item plan to Iran to end the conflict, covering nuclear program, missile capabilities, and regional issues. The US side is considering promoting a one-month ceasefire to negotiate the above terms.
Pre-market headlines
1. The US intends to discuss a 15-point agreement with Iran in January, global assets rise, oil prices plunge
Type: Market
Sentiment Impact: Positive
According to reports, the US government has proposed a conflict resolution plan to Iran with 15 conditions covering nuclear programs, missile capabilities, and regional issues. The US is considering pushing for a one-month ceasefire to negotiate the above terms. International oil prices plummeted, with US oil falling below $90. International precious metals rose sharply, with gold up over 1% and silver up over 2%. US stock index futures collectively rose, Asian stock markets opened higher, with the South Korean stock index up over 2%.
2. Token calls increase by over a thousand times in two years! Officially defined, the "element economy" of the AI era is rising
Type: Industry
Sentiment Impact: Positive
At the China Development High-level Forum 2026 annual meeting, the director of the National Bureau of Statistics indicated that Tokens are not only the value anchor of the intelligent era but also the "settlement unit" connecting technology supply and commercial demand from an official perspective. The translation for Token was given as "element". The daily Token call volume in China has increased by over a thousand times in two years. Institutions suggest focusing on three core themes: AIDC, computing power leasing, and CDN.
3. US software stocks rekindle "AI panic"! Three major indices collectively fall, with tech stocks leading the decline
Type: Market
Sentiment Impact: Negative
US stocks fell on Tuesday, with tech stocks leading the decline, partially giving back the gains from Monday. With conflicting signals of increased military presence in the Middle East and negotiation, the Dow Jones index fell by 0.18% at the close. Software stocks are experiencing an "AI panic" again. In terms of news, Amazon's cloud computing service platform (AWS) is developing artificial intelligence agents for automated sales functions. Chinese concept stocks adjusted, with the Nasdaq China Golden Dragon index falling by 0.43%.
4. The People's Bank of China conducts a 500 billion yuan MLF operation on Wednesday, continuing to increase it for the 13th consecutive month
Type: Macro
Sentiment Impact: Positive
The People's Bank of China announced on March 24 that it will conduct a 500 billion yuan 1-year MLF operation on March 25 through fixed quantity, interest rate bidding, and multi-price bidding. With 4.5 trillion yuan MLF maturing in March, the central bank will net inject 50 billion yuan through MLF operations, continuing to increase it for the 13th consecutive month. Analysts believe that the central bank will continue to comprehensively use medium and long-term liquidity tools to ensure a stable and ample fund.
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CICC: Maintaining Outperform rating on 361 DEGREES (01361), raising target price to HKD 7.08.

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