[Selected morning news on November 13] 1. Ministry of Commerce Spokesperson He Yadong said at the Ministry of Commerce’s regular press conference held on the 12th that regarding economic and trade consultations, China and the United States are maintaining close communication on issues of concern in trade, investment and other fields, and relevant progress will be announced in due course. 2. NVIDIA announced that the company’s board of directors has approved Huang Renxun’s resignation as the company’s president, CEO and director. Current executive vice president and chief financial officer Colette Kress will serve as interim CEO. 3. In response to the issue of relevant EU countries banning equipment from Chinese companies, Ministry of Commerce spokesperson He Yadong said that he has expressed serious concerns to the governments of relevant countries. China firmly opposes the politicization and pan-security of technical issues and hopes that relevant countries will correct their wrong practices in a timely manner and provide Chinese enterprises with a fair, just and non-discriminatory business environment. 4. The National Development and Reform Commission announced that starting from 24:00 on November 12, the prices of domestic gasoline and diesel (standard products) will be reduced by 645 yuan and 625 yuan per ton respectively. Car owners will spend 25.5 yuan less to fill a 50-liter tank with No. 92 gasoline. 5. The reporter learned from the interview that the mismatch between supply and demand is the leading factor in this round of electronic cloth price increases. The industry is currently showing a tight pattern of "conventional cloth gap + special cloth serious shortage". It is difficult to increase the volume of new production capacity in the short term. It is expected that the price of electronic cloth will continue to rise in the short term. 6. According to the National Railway Administration, the State Railway Administration recently officially approved the release of China’s railway industry’s first complete vehicle-level industry technical standard for new energy locomotives, successfully filling the gap in industry standards in the field of new energy locomotives in China and providing solid technical support for the green transformation of railway equipment. 7. SMIC announced that in the third quarter, it achieved operating income of 21.983 billion yuan, a year-on-year increase of 28.1%; net profit attributable to shareholders of listed companies was 2.847 billion yuan, a year-on-year increase of 87.6%. 8. The Shanghai Stock Exchange issued a regulatory work letter to Sunrise Oriental Holdings Co., Ltd. regarding stock price fluctuations. The Shanghai Stock Exchange issued a supervisory letter to Great Eastern regarding the stock price fluctuations of Wuxi Commercial Building Great Eastern Co., Ltd. 9. Yinglit announced that the proposed purchase of 100% equity of Baofeng Photovoltaic is expected to constitute a major asset reorganization and the stock will be suspended from trading. Hengyi Petrochemical announced that it plans to acquire a 51% stake in Shaoxing Hengming for 1.201 billion yuan. 10. Tianci Materials announced that its subsidiary plans to invest no more than 5 billion yuan to build a project with an annual output of 500,000 tons of electrolyte and supporting materials. 11. Qizhong Technology announced that it plans to raise no more than 2 billion yuan for multi-core heterogeneous integrated packaging and testing technology projects. Li New Energy announced that it plans to invest 7.32 billion yuan to build a 2.5 million kilowatt wind power project. 12. Anji Technology announced that Kechuang Semiconductor ETF China increased its stake in the company to 5%. The fund holds 11.4178 million shares of the company. 13. Huahong Grace announced that it plans to repurchase shares between 300 million and 500 million yuan for cancellation. Tianfu Communications announced that it repurchased 100,000 shares for the first time on November 12 at a cost of 14.5434 million yuan. 14. The three major U.S. stock indexes collectively closed down, with the Nasdaq falling 0.39%, the Dow Jones Industrial Average falling 0.36%, and the S&P 500 Index falling 0.35%. Most chip stocks fell, with Nvidia falling by 4.34% and its market value evaporating by US$182 billion. SanDisk fell by 4.1%. Applied Materials and Cerebras fell by more than 3%. Nvidia's GPU competitors, Broadcom and AMD, rose by more than 5%. 15. U.S. President Trump said that Cook should succeed Huang Jensen as CEO of Nvidia. 16. US President Trump stated on November 12, local time, that the United States does not need to reach an agreement with Iran. Trump said those days are long gone. He claimed that the United States already has access to hundreds of billions of dollars in Iranian funds and the Strait of Hormuz. 17. The Federal Reserve updated the 2027 Federal Open Market Committee (FOMC) meeting schedule and canceled the October interest rate meeting schedule. 18. It is reported that merger negotiations between SpaceX and Tesla are advancing, and the deal may be announced as early as December. Advisers from both sides are discussing terms, but the final delivery date could still be pushed back to 2027. 19. Cisco rose 8% after the market closed. The company raised its adjusted earnings per share guidance for fiscal year 2027 to US$5.47 to US$5.53, compared with the previous guidance of US$5.05 to US$5.11. Revenue guidance was raised to US$74.8 billion to US$75.8 billion, from US$72.2 billion to US$73.4 billion. 20. International oil prices rose. WTI crude oil futures for December delivery rose 2.6%, settling at US$88.74 per barrel; January Brent crude oil rose 3.3%, closing at US$95.82 per barrel.