The market is gradually becoming desensitized to war news.

This morning Trump tweeted again, saying that talks with Iran are going well, and the bombing of the Iranian power plant has been postponed for another 10 days. It was initially set for March 23, then postponed to March 28, and now it has been further postponed to April 6.

Additionally, Reuters reported that Iranian executives and representatives of the Supreme Leader are reviewing the 15-point proposal from the U.S. This has released two moderate signals to the market:

1. Trump does not want to continue fighting.
2. Iran is open to negotiations, and both sides have begun to meet.

Moreover, around noon, news emerged that the AIS data of two container ships under COSCO Shipping changed from “anchored” to “underway,” heading towards the Strait of Hormuz. The market speculates that this is a signal that the strait is starting to reopen.

As a result, global capital markets collectively rose, with the South Korean composite index climbing from -4.4% to -0.4%, and the Nikkei rising from -2% to -0.43%. The A-share market also opened low and then rose, with the median of both markets up +1.24%, which is quite comfortable.

However, just after the A-share market closed, the situation changed again, with bad news following one after another:

1. The COSCO ships failed to pass through the strait and were turned back by Iran.
2. Iran publicly announced it would continue to close the Strait of Hormuz.
3. The U.S. and Israel attacked Iran’s steel mills and associated power plants.
4. Iranian drone fleets launched counterattacks, targeting Israel’s largest transportation hub.

The information is changing too quickly; it used to change every few days, but now it is changing every few hours. According to the experience from the Russia-Ukraine conflict, as war information changes frequently, the funds tracking war information may become fatigued, and their reactions to the war will diminish.