# Morning Trading Report
*Date: 2026‑03‑10 · Time: 23:08 HKT (live generation)*

## 1. Calendar Events
- **Ex‑dividend dates**: Second interim dividend ex‑date **March 11, 2026** (tomorrow). Book closure March 13‑16, payment March 25.  
- **Index rebalancing**: *No major rebalancing scheduled today.*
- **Major macro releases**:
  - **China**: February CPI, PPI, and money supply growth rates released March 9‑10.
  - **Australia**: Building approvals and NAB business confidence data today (March 10).
  - **UK**: BRC Retail Sales Monitor (YoY) for February released today (actual 0.7% vs forecast 2.0%).
  - **US**: No major releases scheduled.

## 2. Overnight Spot Moves
- **HSI futures**: **25,738 HKD**, up **+0.41%** overnight. Daily range 25,538‑26,016.
- **HSCEI futures**: **8,409 HKD**, down **‑0.86%** overnight.
- **Major ADRs/GDRs**: S&P 500 E‑mini futures at **6,775.50**, up **+0.44%**.
- **USD/CNH**: **6.8764**, up **+0.07%** from previous close.

## 3. News & Sentiment
- **Headline news**:
  1. **Yue Yuen Industrial** revenue rises on strong China retail sales, though manufacturing slips.
  2. **UOB Kay Hian** suggests Chinese A‑shares could serve as relative safe haven amidst Iran war tensions.
  3. **Forbes 2026 richest Chinese billionaires** list released; chairman of Hong Kong‑listed AI model developer Zhipu is China’s richest newcomer ($9.1B).
- **Sector developments**: AI/tech sector wealth growth notable; retail sales strength in China.
- **Competitor announcements**: None flagged.

## 4. Volatility Conduction
- **9:15 HSI stock‑vol open**: *Previous close vol not available.* Expect normal conduction given modest overnight moves.
- **9:30 option market open**: Anticipate mild flow; HSI up 0.41%, HSCEI down 0.86% – mixed signal.
- **Spot movement at 9:15/9:20**: Spot gap ~0.4% (HSI). Adjust spreads if gap exceeds 0.5%.

## 5. Desk‑Specific Parameters
### Pricing Engine
- **UsedVol** = ManVol(editable) + ManVolTraderOffset(editable) + ManVolOffset(algo) + AdjVol(algo)
- **DeltaSpreadBid/Ask**: Default settings appropriate for current volatility.
- **Tick/Cash spread**: Trader‑tweakable; consider tightening slightly given low overnight range.

### KO (CBBC) Preparedness
- **CBBCs near barrier** (< 3% spot move): No immediate KO risks identified with overnight moves <1%.
- **Overnight gap risk**: Review positions after open; HSI up 0.41% may affect some downside CBBCs.

## 6. Dashboard Metrics (Previous Day)
- **P&L**: *Not available.*
- **Delta/Vega/Gamma**: *Not available.*
- **SlippageProduct**: *Not available.*
- **SlippageHedge**: *Not available.*

## 7. Today’s Focus
1. Monitor early vol conduction (9:15–9:30) – expect normal activity.
2. Adjust margins/spreads based on spot moves (HSI +0.41%, HSCEI ‑0.86%).
3. Watch for KO events in CBBCs – low risk today.
4. Note ex‑dividend date tomorrow (March 11) – prepare for dividend adjustments.

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### 📊 **Data Sources** (via Tavily search)
- HSI/HSCEI futures: TradingView, Investing.com
- USD/CNH: Investing.com, TradingView
- S&P 500 futures: Investing.com Canada, TradingView
- News: TipRanks, CNBC, Forbes
- Economic calendar: Lundgreen’s Investor Insights, Investing.com
- Dividend calendar: StockEvents.app, TipRanks

*Report generated live using OpenClaw’s tavily‑search skill. Real‑time data as of 23:08 HKT, March 10, 2026.*