The head of the International Energy Agency (IEA) stated that the oil supply gap in April will double compared to March. Fatih Birol, the IEA chief, mentioned in a podcast released on Wednesday that the agency is considering whether to initiate another emergency release of oil reserves and has advised governments to implement additional energy-saving measures, such as promoting remote work and lowering speed limits for vehicles. Birol noted during the program hosted by the CEO of Norges Bank Investment Management that the situation in April will be significantly more severe than in March. He explained that March's oil supply benefited from shipments already en route prior to the outbreak of the Iran conflict, which eased conditions somewhat. Birol added that the supply shortfall in April is expected to be twice as large as that in March. Last month, 32 member countries of the IEA, including the United States, released 400 million barrels of oil from emergency reserves to curb crude prices, marking the largest reserve release in the agency's history. Birol emphasized that the IEA is assessing market conditions on a daily, even hourly, basis to determine if further intervention is necessary.
Overnight, U.S. stocks closed higher collectively, with gains in semiconductor and memory-related stocks. At the close, the Dow Jones Industrial Average rose by 224.23 points, or 0.48%, to 46,565.74; the S&P 500 increased by 46.8 points, or 0.72%, to 6,575.32; and the Nasdaq Composite advanced by 250.32 points, or 1.16%, to 21,840.95. Western Digital surged over 10%, while SanDisk gained more than 9%. Micron Technology and Intel both rose over 8%. Aluminum stocks broadly advanced, influenced by the missile attack that halted production at the Middle East's largest aluminum producer, with Alcoa and Century Aluminum (which hit a record high) both climbing over 8%. Nike shares fell 16%, marking their largest single-day decline since June 2024. Most popular Chinese stocks closed higher, with the Nasdaq Golden Dragon China Index up 0.31%. The Hang Seng Index ADRs also rose, closing at 25,377.36 points, an increase of 83.33 points or 0.33% compared to the Hong Kong market close. NYMEX WTI crude oil futures for the current month fell by $2.47, or 2.44%, to $98.91 per barrel. COMEX gold futures for the current month rose by $106.00, or 2.27%, to $4,784.6 per ounce.
Iran's deputy parliament speaker stated that "the Supreme Leader has not approved any negotiations at present." According to a report by Iran's Fars News Agency on April 1, Ali Nikzad, during a public gathering in Iran's Tafresh, emphasized that decisions regarding war, peace, and any negotiations fall under the authority of Iran's Supreme Leader, as per the constitution. Market sources indicated that multiple U.S. intelligence agencies recently assessed that the Iranian government currently has no intention of engaging in substantive negotiations to end the conflict.
On the evening of April 1 local time, NASA's next-generation lunar rocket, the Space Launch System, launched from the Kennedy Space Center in Florida, carrying out the Artemis 2 manned mission to orbit the moon. This marks the first U.S. manned mission to the moon since 1972.
Strategists warned that a prolonged conflict in the Middle East poses risks to global fertilizer supplies. Analysts from ANZ noted in a research report that the Middle East accounts for approximately 30% of global fertilizer trade and is a crucial hub for natural gas exports. They added that transport disruptions in the region have begun to impact fertilizer availability. Energy shocks are also affecting fertilizer production costs, as nitrogen fertilizers are gas-intensive. The report highlighted that fertilizer exporters like China and Russia are implementing trade restrictions to secure domestic supplies, further tightening global availability. These disruptions are expected to affect global food production, raising concerns about increased agricultural costs and yield losses.
Elon Musk's SpaceX has reportedly submitted a confidential application for an initial public offering (IPO) to the U.S. Securities and Exchange Commission, taking a significant step toward what could become the largest IPO in history. According to sources familiar with the matter, the satellite manufacturing and rocket launch company filed the application privately. Previous reports suggested that SpaceX plans to raise between $40 billion and $80 billion through the IPO, with a potential valuation target of $1.75 trillion.
CATL (03750) showcased its energy storage sodium-ion battery for the first time, with a cycle life exceeding 15,000 cycles. The related energy storage products are designed to cover large-scale energy storage applications ranging from 2 to 8 hours, as well as data center energy storage scenarios, and are expected to achieve commercial deployment within the year. The dedicated sodium-ion battery for energy storage exhibited platform-based design compatibility with existing 587Ah lithium batteries, allowing systems to support both lithium and sodium batteries.
SIHUAN PHARM (00460) and BIOCYTOGEN-B (02315) have entered into a strategic collaboration to accelerate the development of innovative drugs in areas such as weight loss through an AI-driven fully human antibody R&D platform. SIHUAN PHARM announced that the group has officially signed a strategic cooperation agreement with Biocytogen (Beijing) Pharmaceutical Technology Co., Ltd. Leveraging the group's comprehensive experience in drug development, large-scale production, and commercialization, combined with Biocytogen's leading AI-driven fully human antibody development platform, the partnership will focus on joint R&D of innovative drugs in high-potential disease areas, including weight loss, establishing a long-term, mutually beneficial relationship to advance the development and commercialization of cutting-edge global therapies.
CEB Water (01857) has secured two water projects in Jiangsu, continuing to optimize its business portfolio and deepen its presence in the Yangtze River Delta region. The company announced that it recently obtained the EPC+O projects for the third phase of the Huaiyin East City Sewage Treatment Project in Huai'an, Jiangsu, and the first phase, second stage of the Jiangyin High-tech Zone Sewage Treatment Plant. The consecutive awards of these projects mark a solid step forward in CEB Water's efforts to strengthen its foothold in the core Yangtze Delta region and expand in the water environment management sector, demonstrating its commitment as a leading environmental service provider to regional water environment governance and sustainable development.
PHARMARON (03759) reported that its commercial-scale formulation workshop has commenced operations and received orders from a major international pharmaceutical company, with potential improvements in gross margin for small-molecule CDMO services. The company disclosed in an investor relations activity record that the commercial production workshop for formulations at its Beijing second campus has been completed. In the first quarter of 2026, PHARMARON signed a strategic cooperation agreement with a large international pharmaceutical firm to provide commercial production services for the latter's first orally administered small-molecule GLP-1 receptor agonist submitted for registration. During the reporting period, the value of newly signed orders increased by over 14% year-on-year, with more than 950 new clients added and over 3,300 active clients. Revenue from the top 20 global pharmaceutical companies grew by 29.4% year-on-year. The small-molecule CDMO services involved 1,102 drug molecules or intermediates, including 34 projects in process validation and commercial stages, and 47 projects in Phase III clinical trials. As revenue from the small-molecule CDMO segment grows and projects advance to later stages, the gross margin for these services is expected to improve compared to 2025. The company maintains steady growth in 2026, with new orders continuing to increase since the beginning of the year, and clinical research services revenue anticipated to sustain growth.
BRAINAURORA-B (06681) has become a strategic partner of the Beijing Frontier Brain-Computer Interface Research Institute, collaborating to advance the clinical translation of key brain-computer interface technologies. The group announced that it has officially become a strategic cooperation unit of the institute. On March 27, 2026, the company's subsidiary, Zhejiang Brain Aurora Medical Technology Co., Ltd., signed a strategic cooperation agreement with the Beijing Frontier Brain-Computer Interface Research Institute.
ABBISKO-B (02256) has received orphan drug designation from the European Medicines Agency for its FGFR4 inhibitor, ipagratinib. The company announced that its self-developed, highly selective small-molecule FGFR4 inhibitor, ipagratinib (ABSK-011), has been granted orphan drug designation by the EMA for the treatment of hepatocellular carcinoma. Currently, ipagratinib is undergoing clinical studies in multiple regions globally. The EMA's ODD will provide significant support for the product's clinical development, regulatory submission, and commercialization process in Europe. Public information indicates that ipagratinib is a highly selective, oral small-molecule FGFR4 inhibitor developed by Abbisko. In addition to the EMA's ODD, ipagratinib has previously received orphan drug designation and fast track designation from the U.S. Food and Drug Administration, as well as breakthrough therapy designation from China's National Medical Products Administration.
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