The SMI index shows signs of recovery, buoyed by demand for UBS and Swisscom, while Geberit faces challenges. Oil prices have surged amid escalating tensions in the Middle East. In China, the Caixin/S&P Global PMI for manufacturing indicates a gradual economic recovery, though the labor market remains strained, highlighting the need for policies to boost household income to meet 2024 growth targets. The Shanghai Stock Exchange rose 0.6%, with major companies in Shanghai and Shenzhen up 0.9%.