To The Moon

On April 1, the Hang Seng Biotech Index surged 6.78% in a single day, followed by another 0.89% gain on April 2, closing at 15,641. From the ETF side, funds tracking healthcare and biotech moved higher in sync with the index. $CAM HSBIOTECH(03069)$ rose 0.58%, $CSOP HSBIOTECH(03174)$ gained 0.92%, and $GX CN BIOTECH(02820)$ increased 1.17%, showing a consistent upward trend alongside the broader sector. Capital allocation into passive products is also picking up. At the stock level, $HANSOH PHARMA(03692)$ rose 5.18%, $INNOCARE(09969)$ gained 4.44%,

Over the past two days, the European defense ETF $WisdomTree Europe Defense Fund(WDEF)$ has shown strong momentum. It rose 6.14% on March 31 and gained another 5.53% on April 1, bringing the two-day cumulative increase close to 12%. First, looking at the policy side. On March 30, the European Commission approved a defense industrial program worth approximately €1.5 billion. More than €700 million is allocated to the production of missiles, ammunition, and counter-drone systems, while about €260 million is designated to support Ukraine’s defense system. Such spending directly translates into defense orders and has a very direct impact on company revenues. Next, the situation in the United States. On April 1, Donald Trump stated in an interview with

On March 31, the US and Iran signaled a potential de-escalation of conflict, leading to a clear improvement in market risk appetite. US equities broadly rallied, with the $NASDAQ(.IXIC)$ rising 3.80% on the day. Against this backdrop, the biotech sector stood out, with $Spdr S&P Biotech Etf(XBI)$ gaining 7.53%, significantly outperforming the broader market. Looking over a longer time frame, this performance did not emerge in a single day. As of the March 31 close, XBI has risen approximately 4.8% compared to December 31, 2025, while the Nasdaq has declined about 7.1% over the same period. Since the escalation of tensions in the Middle East on February 28, volatility in tech stocks has increased, whil

Korean stocks rebounded sharply today, with the KOSPI closing at 5,478.70, up 8.44% on the day. The index surged intraday, and a rise of more than 5% in futures triggered a temporary halt in program trading. KOSDAQ 150 futures also hit circuit breakers. After previously falling to around 4,900, the market has largely recovered losses from the past week, with sentiment improving. In terms of daily performance, Korea-related ETFs moved higher across the board. The leveraged product $Direxion Daily MSCI South Korea Bull 3x Shares(KORU)$ posted the largest gain, rising 16.84%. Among broad-based ETFs, $iShares MSCI South Korea ETF(EWY)$ gained 5.65%, $Franklin FTSE South K

South Korea’s stock market remains under pressure. The KOSPI index has fallen to around 5,052, dropping 4.3% in a single day. Over the past month, it has declined nearly 19%, marking the largest monthly drop since October 2008, and has pulled back more than 20% from its February high. From the perspective of daily performance, Korea-related ETFs broadly came under pressure. Among broad-based products, $韩国ETF-iShares MSCI(EWY)$ and $Franklin FTSE South Korea ETF(FLKR)$ both fell about 3.8%, largely reflecting the decline of the overall market. The actively managed $Matthews Korea Active ETF(MKOR)$ dropped a smaller 3.13%, showing relative resilience. The defense-th

On March 30, Japanese equities weakened significantly. The Nikkei 225 Index closed down 2.79%, with deeper losses seen intraday, while the Topix Index also declined by around 2.9%. The market structure was highly concentrated, with heavyweight technology stocks dragging down the index. Advantest fell 5.19%, SoftBank Group dropped 6.31%, TDK declined 4.42%, Fanuc fell 4.22%, and Tokyo Electron also moved lower. These companies are concentrated in semiconductor equipment, electronic components, and automation, forming the core growth segment of the Japanese market. Due to the high concentration of weights, technology stocks had an outsized impact on the index. Advantest accounts for more than 12%, SoftBank over 5%, while TDK and Fanuc both exceed 2%. When these stocks correct simultaneously,

Yesterday, the U.S. biotech sector showed strong momentum, with the $纳斯达克生物技术指数(NBI)$ rising 2.64% in a single day. From a structural perspective, gains were broadly distributed across small- and mid-cap innovative drug companies, with $Sarepta Therapeutics(SRPT)$ surging nearly 35% and multiple names such as $Arrowhead Research Corporation(ARWR)$ and $Arvinas Holding Company LLC(ARVN)$ rising more than 5%, indicating a clear breadth-driven rally. From a one-day performance perspective, biotech-related ETFs moved higher across the board, with stronger gains in innovative and high-beta segments.

Yesterday, the $NASDAQ(.IXIC)$ fell 0.8%, while semiconductor stocks rose against the trend. $Taiwan Semiconductor Manufacturing(TSM)$ gained 1.42%; semiconductor equipment stocks saw $Applied Materials(AMAT)$ rise 3.37%, $Kirkland Lake Gold(KLA.AU)$ rise 3.62%, $Lam Research(LRCX)$ rise 2.37%, and $ASML Holding NV(ASML)$ rise 2.18%. Looking back to the period since the outbreak of the Middle East conflict, the Nasdaq has been more volatile, down about 4%. In comparison, semiconductor manufacturing equipment stocks have rebounded fast

Oil prices saw significant volatility last night. During the US trading session on March 23, Brent crude fell sharply from around $113 to $96, marking a drop of more than 13% in a single day — one of the most dramatic moves in recent years. Prices then rebounded quickly and are now fluctuating around $102, with the market still facing high uncertainty. From the perspective of ETF performance, the sharp swings in oil prices led to clear divergence across related products. $United States Oil Fund LP(USO)$ , which tracks oil prices directly, fell 8.95% for the day, while $United States Brent Oil Fund LP(BNO)$ declined 9.52%. The 2x leveraged long oil ETF $ProShares Ultra B

Gold fell more than 8% intraday, breaking below $4,200 and reaching the $4,100 level. It has now declined for multiple consecutive days, wiping out all of this year’s gains. On March 22, US President Donald Trump issued an ultimatum to Iran in the evening New York time, demanding that it reopen the Strait of Hormuz within two days or face attacks on its power facilities. Iran responded that if attacked, it would “completely close” the strait and target energy and infrastructure. This escalation directly pushed oil prices higher. Rising oil prices have changed the market’s view on inflation. As energy costs increase, investors are reassessing the US inflation path, believing that the previous disinflation trend may be interrupted. In this context, expectations for Federal Reserve rate cuts