A股电网设备板块局部走低，新能泰山跌停，中利集团跌超9%，亿能电力、泽宇智能、东方电缆跟跌。

【期货热点追踪】多晶硅期货继续探底，创下2025年6月以来新低，机构分析表示，在库存消化周期过长、现货有价无市的背景下，期现价格的收敛压力或将拖累主力合约进一步下探。

China’s deflation cycle is likely approaching its end, according to Zhaopeng Xing of ANZ. He expects both producer and consumer prices to have risen in March, with the 1Q GDP deflator likely returning to positive territory for the first time in three years. While higher oil prices are contributing to inflation, he notes they are unlikely to resolve structural imbalances and may even weigh on household consumption. Still, policymakers may prefer “bad” inflation over deflation, with China expected to continue pursuing reflation by curbing price wars.