# Morning Trading Report
*Date: [REDACTED_PHONE] · Time: 07:00 HKT*

## 1. Calendar Events (Next 2 Weeks)

### Ex‑dividend Dates (HKEX Listed Equity)
| Date | Stock (Symbol) | Div Amount (HK$) | Div % | Payable Date | Note |
|------|----------------|------------------|-------|--------------|------|
| 2026‑03‑31 | Swire Properties Limited (01972.HK) | 0.8000 | (Second interim dividend in lieu of a final dividend) | 2026‑05‑07 | Ex‑Date within next 7 days: none |
| 2026‑04‑02 | Wharf (Holdings) Limited (00004.HK) | 0.2000 | (Second interim dividend in lieu of a final dividend) | 2026‑04‑23 | |
| 2026‑04‑08 | Swire Pacific Limited A (00019.HK) | 2.5000 | (Second interim dividend in lieu of a final dividend) | 2026‑05‑08 | |
| 2026‑04‑08 | Swire Pacific Limited B (00087.HK) | 0.5000 | (Second interim dividend in lieu of a final dividend) | 2026‑05‑08 | |
| 2026‑03‑26 | SF Real Estate Investment Trust (02191.HK) | 0.1322 | | 2026‑04‑21 | |
*Source: AAStocks Corporate Events (dividend) – filtered for next 2 weeks.*

### Index Rebalancing (Next 2 Weeks)
- *No HSI/HSCEI/HSTI rebalancing dates identified within next 2 weeks (source: AAStocks timeout).*

### Major Macro Releases (China Only)
- *China macro calendar for March 2026 not retrieved (Tavily search failed).*

## 2. Overnight Spot Moves

### Hong Kong Indices (Overnight Moves)
| Index | 4pm Close (Mark) | T‑1 (Day‑on‑Day) | T0 (Close‑to‑Present) |
|-------|------------------|------------------|----------------------|
| HSI | 25,465 (real‑time) | ▼ 251 (‑0.98%) | Same (market not open) |
| HSCEI | 8,671 (real‑time) | ▼ 28 (‑0.32%) | Same (market not open) |

*4pm Close (Mark): Yesterday's close (most recent trading day).  
T‑1: Day‑on‑day change from previous close to yesterday's close.  
T0: Close‑to‑present move from yesterday's close to current live spot (AAStocks real‑time).*

### Major ADRs/GDRs (AAStocks.com)
| Stock (Symbol) | Last Close | Current | Change | % Change | Note |
|----------------|------------|---------|--------|----------|------|
| *ADR real‑time prices not populated on AAStocks (streaming data missing). Excess move calculation unavailable.* | | | | | |

### Interest Rate Moves (Pre‑9:15am Proxy)
**US Treasury Yields (3M, 6M, 1Y, 2Y)**
- *Data not retrieved (Tavily search failed).*

**Hong Kong IRSB Rates** (if available before 9:15am)
- *Data not retrieved (Tavily search failed).*

### FX Rates
| Pair | Current | 1D Change | 5D Change |
|------|---------|-----------|-----------|
| USD/HKD | 7.8272 | +0.0119% ▲ | N/A |
| HKD/CNY | *Not retrieved* | | |

*Source: AAStocks real‑time FX (USD/HKD).*

## 3. News & Sentiment (HKEX Stocks & Macro)
- **HKEX Stocks (.HK)**: *No news retrieved (Tavily search failed).*
- **Macro Developments**: *No news retrieved.*
- **Sector Themes**: *No sector data.*

## 4. Volatility Conduction
- **9:15 HSI stock‑vol open**: *Previous close vol: __.*
- **9:30 option market open**: *Anticipate early flow based on overnight moves.*
- **Spot movement at 9:15/9:20**: *Adjust spreads if spot gap > 0.5%.*

## 5. Desk‑Specific Parameters
### Pricing Engine
- **UsedVol** = ManVol(editable) + ManVolTraderOffset(editable) + ManVolOffset(algo) + AdjVol(algo)
- **DeltaSpreadBid/Ask**: *Default settings.*
- **Tick/Cash spread**: *Trader‑tweakable.*

### KO (CBBC) Preparedness
- **CBBCs near barrier** (< 3% spot move): *None identified.*
- **Overnight gap risk**: *Review positions after open.*

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

## 7. Today’s Focus
- Monitor early vol conduction (9:15–9:30).
- Adjust margins/spreads based on spot moves.
- Watch for KO events in CBBCs.
- Note interest rate alignment between HK and US.

---

*This is an automated report based on the updated checklist. Data sourced via AAStocks scraping (partial) and Tavily search (failed).*