Hong Kong Exchanges & Clearing Ltd. is planning to introduce “micro futures” on the Hang Seng Index and its tech benchmark, aiming to attract more retail participation in derivatives trading, according to people familiar with the matter. The proposed

US Dollar: 1. Federal Reserve Governor Milan: The job market has shown a continuous weakening trend. Current interest rates are about one percentage point higher than the neutral rate. 2. White House trade advisor Navarro: Powell remaining at the Fed after his term ends is "absolutely harmful." 3. Bessant seeks to reform oversight of the Fed, with the Bank of England becoming a reference point. 4. Fed advisor: Warsh may need five years to shrink the Fed's balance sheet. 5. TD Securities: This oil price volatility is unlikely to prompt the Fed to take aggressive policy measures. Euro: 1. Traders reduced their bets on a European Central Bank (ECB) rate hike, expecting a 65 basis point increase by the end of the year. 2. ECB President Lagarde: Prepared to act at any meeting if necessary; interest rates could be raised as early as April. 3. According to a Reuters poll: 38 out of 60 economists believe the ECB will keep its deposit rate at 2.00% throughout 2026. 21 out of 60 economists believe the European Central Bank (ECB) will raise interest rates at least once in 2026 (compared to 3 out of 72 economists in a March 13 survey). 4. Bank of France Governor Villeroy: It is too early to discuss when interest rates might rise. The ECB has not made any pre-commitment regarding any interest rate path. 5. Bank of France: Under its baseline scenario, it expects economic growth of 0.9% in 2026, up from the previous forecast of 1.0%; it has revised its 2026 inflation forecast upward to 1.7% (from 1.3%). 6. ECB Governing Council member Rehn: The ECB remains calm and maintains a broad perspective on the Iran issue. Pound Sterling: 1. Bank of England Monetary Policy Committee member Green: Tightening financial conditions will affect the economy. Japanese Yen: 1. Affected by expectations of interest rate hikes, the yield on Japanese two-year government bonds rose to its highest level in 30 years. Korean Won: 1. The aftermath of the Iran war continues, and the Bank of Korea issued a warning of financial stability risks. 2. Market News: South Korea announced measures to stabilize its bond market. The South Korean Ministry of Finance stated that it will repurchase 5 trillion won of government bonds. South Korean government bond futures rose slightly. Other: 1. Swedish Central Bank Deputy Governor Bunge: Currently, I think it's best to wait and see, maintain the current monetary policy direction, but at the same time remain highly prepared to act. 2. Reserve Bank of Australia Assistant Governor Kent: It is essential to ensure that initial price increases do not lead to a rise in long-term inflation expectations.

ECB Governing Council member Rehn: The Iranian issue does not have a direct impact on medium-term inflation.