A[Morning News Selection on October 28th]
1. Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference yesterday. A reporter asked a question. It was reported that the EU plans to reduce imports of related products from China. Guo Jiakun said that China hopes that the EU will respect the principles of market economy and fair competition, avoid abusing trade remedy tools, and take practical actions to promote the healthy and stable development of China-EU relations.
2. The Shanghai Municipal Economic and Information Technology Commission issued the "Shanghai Action Plan to Accelerate the Development of New Generation Intelligent Manufacturing". It is pointed out that by 2028, the scale of the new intelligent manufacturing equipment industry promoted by AI will exceed 200 billion yuan, and the scale of the intelligent manufacturing system integration industry will reach 100 billion yuan.
3. The Henan Provincial Department of Commerce and other departments jointly issued the "Announcement on Optimizing the Implementation of Subsidy Activities for Local Independent Categories of Consumer Goods Trade-in in 2026". The subsidy standard is 15% of the final sales price of the product, with each subsidy not exceeding 1,500 yuan.
4. For illegally receiving more than 436 million yuan in property, Wang Huimin, former member of the Party Committee of the China Securities Regulatory Commission, was sentenced to death with a suspended sentence in the first instance.
5. TSMC is considering increasing the price of CoWoS advanced packaging services by 10% to 20%. As the demand for AI chips expands from GPUs to server CPUs and customized AI chips, advanced packaging production capacity is tightening, and related cost pressures may be transmitted to chip design companies.
6. The official account of Hongguo Short Drama issued a statement: Statements such as "The annual revenue of Hongguo Short Drama is approaching 40 billion yuan" and "The annual revenue of Hongguo Short Drama will reach 42 billion to 45 billion yuan this year" have appeared on the Internet. After verification, the above income data are untrue.
7. Dongshan Precision (02384.HK) announced the Hong Kong stock IPO allotment results: the Hong Kong public offering subscription level was 0.52 times, and 5.9055 million shares were finally allocated, accounting for 5.19% of the global offering.
8. Bubble Mart announced that the overall revenue (unaudited) in the third quarter of 2026 will decrease by 45%-50% year-on-year compared with the third quarter of 2025.
9. Yifei Laser announced that it plans to acquire 100% equity of Xingqihang, an optical module packaging and automated coupling equipment company, for 400 million yuan.
10. The Shanghai Stock Exchange issued a supervisory work letter regarding the abnormal fluctuations in the stock price of Shanghai Jiubai Co., Ltd. The objects involved include listed companies, directors, senior managers, general shareholders, controlling shareholders, actual controllers and other relevant parties.
11. Wuliangye announced that its third quarter revenue was 4.442 billion yuan, a year-on-year decrease of 37.68%; net profit was 958 million yuan, a year-on-year decrease of 48.25%.
12. Dongcai Technology announced that its net profit in the first three quarters was 443 million yuan, a year-on-year increase of 56.69%. The third quarterly report showed that Zhang Jianping became the third largest shareholder.
13. Sugon announced that its net profit in the third quarter was 753 million yuan, a year-on-year increase of 217% and a month-on-month increase of 1%. It was announced on the same day that it plans to repurchase shares for 300 million to 500 million yuan for employee stock ownership plans or equity incentives.
14. Tongguan Copper Foil announced that its net profit in the third quarter was 124 million yuan, a year-on-year increase of 345%; Jinan Guoji announced that its third-quarter net profit was 1.158 billion yuan, a year-on-year increase of 1031%; Shanghai Electric Co., Ltd. announced that its third-quarter net profit was 2.699 billion yuan, a year-on-year increase of 161%; Nanya New Materials announced that its third-quarter net profit was 990 million yuan, a year-on-year increase of 1296%.
15. Hengrui Pharmaceutical announced that its net profit in the third quarter was 2.458 billion yuan, a year-on-year increase of 89%; Founder Technology announced that its third-quarter net profit was 616 million yuan, a year-on-year increase of 327%; Ingenics announced that its third-quarter net profit was 1.419 billion yuan, a year-on-year increase of 2595%.
16. The three major U.S. stock indexes closed collectively higher, with the Nasdaq rising 1.18%, the S&P 500 rising 0.6%, and the Dow Jones Industrial Average rising 0.03%. The storage and optical communications sectors continued to strengthen, with Western Digital rising more than 6%, and SanDisk and Seagate Technology rising more than 3%.
17. Apple is reported to release 14- and 16-inch touch-screen MACBOOKs on Wednesday. Apple has discussed pricing its new 14-inch touchscreen Mac at $2,899. Apple's touchscreen MAC will become the company's most expensive laptop.
18. Opinion polls show that neither the right-wing camp led by current Israeli Prime Minister Netanyahu nor the opposition camp led by former Israel Defense Forces Chief of Staff Eisenkot obtained the majority of seats needed to form a government, but the opposition camp is in the lead.
19. Musk said that robots’ memory consumption will crush all existing computing devices on the planet. He also said that the robot uses low-power DRAM chips instead of high-bandwidth memory (HBM).
20. Seagate Technology’s revenue in the first fiscal quarter was US$4.2 billion, a year-on-year increase of 60%. It is expected to be US$4.11 billion. Revenue in the second fiscal quarter is expected to be US$4.8 billion. Seagate Technology fell more than 8% after the market closed.
21. SK Hynix announced its third quarter results for fiscal year 2026. Operating income was 104.62 trillion won, a month-on-month increase of 32%, a year-on-year increase of 328%, and is expected to be 98.96 trillion won; operating profit was 83.33 trillion won, a month-on-month increase of 38%, a year-on-year increase of 632%, and is expected to be 77.5 trillion won; SK Hynix expects that revenue and operating profit will increase to a new level of scale next year. SK Hynix plans to distribute at least 30 trillion won in cash dividends in 2026 and repurchase and cancel at least 60 trillion won in shares.
22. International oil prices continued to fall, with Brent crude oil futures for December delivery falling 1.7%, with a settlement price of US$113.88 per barrel. WTI crude oil futures for December delivery fell 1.8%, settling at $99.90 a barrel.
23. International precious metals rose. Spot gold prices rose 1.07% to US$4,060.13 per ounce; spot silver prices rose by 0.82% to US$54.39 per ounce. A[Overnight global news you need to know on Wednesday: Trump hinted that Venezuela may become a state of the United States; Bolsonaro "exiles" to the United States; strong technology stocks boosted the Nasdaq to close up 1%]
global news
1. In his speech in Texas, Trump hinted that Venezuela might become a state of the United States.
2. Polls show that both the right-wing camp led by Israel’s current Prime Minister Netanyahu and the opposition camp led by former Israel Defense Forces Chief of Staff Eisenkot failed to obtain the majority of seats needed to form a government, but the opposition camp is in the lead.
3. Brazilian Liberal Party Federal Representative Mauricio Marcon said on the 27th that Flavio Bolsonaro, the Liberal Party candidate who lost the presidential election, has left for the United States.
4. Apple is reported to release 14- and 16-inch touch-screen MACBOOKs on Wednesday. Apple has discussed pricing its new 14-inch touchscreen Mac at $2,899. Apple's touchscreen MAC will become the company's most expensive laptop.
5. NXP fell more than 7% after the market closed. The company expects fourth-quarter adjusted earnings per share of 4.14 to 4.58 US dollars, while the market expected 4.36 US dollars.
6. Seagate Technology fell more than 7% after the bell, and Western Digital fell more than 2%. Seagate Technology's revenue in the first fiscal quarter was US$4.2 billion, a year-on-year increase of 60%. It is expected to be US$4.11 billion. Revenue in the second fiscal quarter is expected to be US$4.8 billion.
7. Visa’s fourth quarter net revenue was US$12.14 billion, a year-on-year increase of 13%, with an estimate of US$12.09 billion; adjusted net profit was US$6.55 billion, a year-on-year increase of 13%, with an estimate of US$6.47 billion.
8. The United States and Russia are reported to have proposed a possible plan for American and Russian oil giants to establish a joint venture offshore Sakhalin Island in the Russian Far East.
9. A U.S. regulatory agency is reported to be investigating whether the prediction market operator Polymarket violated the agreement to ban U.S. users in 2022.
10. Russian President Vladimir Putin and Iranian President Pezeshyan met during the "Gas Exporting Countries Forum" summit in Moscow. Putin said that the two sides had a conversation on the situation in the Middle East and hoped that the situation would develop in a positive direction.
global market
1. The three major U.S. stock indexes closed collectively higher, with the Nasdaq rising 1.18%, the S&P 500 rising 0.6%, and the Dow Jones Industrial Average rising 0.03%. The storage and optical communications sectors continued to strengthen. Western Digital rose by more than 6%, SanDisk and Seagate Technology rose by more than 3%, Lumentum rose by more than 5%, Coherent rose by more than 6%, and Marvell Technology rose by more than 4%. Oracle expanded cooperation with Google, Intel, Nvidia, etc., and related companies rose. Cerebras rose by more than 10%, Oracle rose by 3.56%, and Intel rose by 3.6%.
2. International oil prices continue to fall, as traders weigh signs of cooling in the situation in the Persian Gulf and await the results of the Israeli election. Brent crude oil futures for December delivery fell 1.7% to settle at $113.88 a barrel. WTI crude oil futures for December delivery fell 1.8%, settling at $99.90 a barrel.
3. International precious metals rose. Spot gold prices rose 1.07% to US$4,060.13 per ounce; spot silver prices rose by 0.82% to US$54.39 per ounce.
4. Livermore’s leading index of Chinese concept stocks closed up 0.93%. Among the constituent stocks, Akso Health rose 11.02%, Brain Regeneration Technology rose 9.62%, Huirong Technology rose 7.99%, Legend Biotech rose 5.93%, and ASE Investment Holdings rose 5.46%. A[Overnight global news you need to know on Tuesday: European and American stock markets rose across the board, many U.S. semiconductor chip stocks soared by more than 10%, Fed Musallem said further interest rate hikes may be needed, Trump talked about AI development]
1. Fed Musallem said that interest rates may need to rise further to curb inflation driven by demand and supply; it is best to raise interest rates "early and gradually."
2. Regarding artificial intelligence, Trump said that the United States will remain cautious and restrict AI when necessary, but its overall position is that it will only encourage the development of AI.
3. EU member states reached an agreement on extending sanctions against Russia and agreed to extend relevant sanctions for three years.
4. The Governor of the Bank of Canada said that the inflation forecast will affect the decision-making in October, and it is necessary to decide whether to raise interest rates to guide the CPI back to 2%.
5. U.S. stocks opened higher and moved higher. The three major indexes collectively closed higher. The Nasdaq rose 2.26%, the S&P 500 rose 1.49%, and the Dow Jones Industrial Average rose 0.71%. The Philadelphia Semiconductor Index rose 4.29%, its best single-day performance since August 4. Many semiconductor chip stocks such as ARM and Intel soared by more than 10%; AMD rose by about 10%, reaching a new high. The market value exceeded US$1 trillion for the first time, ranking 16th in the total market value of listed companies in the world, and becoming the fourth American chip company to join the "Trillion Dollar Club". Major European stock indexes closed collectively higher, with Germany's DAX30 index rising 1.07%.
6. The settlement price of international crude oil futures closed sharply. WTI crude oil futures October contract fell 4.51%, Brent crude oil futures November contract fell 3.4%.
7. COMEX gold futures fell 0.99% to US$4,381 per ounce; COMEX silver futures fell 0.92% to US$66.53 per ounce.
8. SpaceXAI officially released the Grok 4.7 model. The Grok 4.7 input token is US$2 per million and the output token is US$6 per million.
9. OpenAI is reported to be developing new features to cope with competition from xAI’s Grok robot, and is also considering how to respond to Muse launched by Meta.
10. Paramount Skydance reached a settlement with 12 states regarding its acquisition of Warner Bros.
11. Nvidia plans to invest an additional US$1.5 billion in SB Energy, increasing its total commitment to US$3 billion.
12. Meta announced that the Petal submarine cable connecting France and the United States is expected to be put into use in 2029, and its capacity will double to P-bit level.
13. Amazon stated that it will deploy 5,000 smart glasses devices this year, with the goal of reaching more than 20,000 units by the end of 2027.
14. Qualcomm said it would cooperate with Google to introduce the Snapdragon X Elite platform into the first batch of Googlebook laptops.
15. Optical communications leader Coherent announced the expansion of its pluggable optical line system product portfolio, launching an optical line system in a compact QSFP package with full C-band high-power variable gain amplification capabilities.
16. Novo Nordisk’s CEO stated that by 2030, the company’s production capacity will be able to meet the needs of 5 million patients using Wegovy oral medicine.
17. US telecom giant T-Mobile said that customers can use 5G independent network roaming internationally.
18. Trump said that a meeting on Iran will be held today.
19. The Israeli military said it was attacked near the "Yellow Line" and carried out retaliatory strikes against Hamas targets.
20. British Prime Minister Burnham said that he had agreed to Saudi Arabia’s request to conduct defensive aerial refueling for a limited time to help stabilize the situation in the region.
21. According to reports, the Trump administration has proposed investing US$5 billion to launch an investment fund to rebuild energy facilities in the Gulf of Mexico.
22. Russia will extend its diesel export ban until the end of September. B[Imports and exports along the New Western Land-Sea Corridor reached 692.27 billion yuan in the first eight months] September 16th, according to Chongqing Customs statistics, in the first eight months of this year, the import and export of the provinces (autonomous regions and municipalities) along the New Western Land-Sea Corridor reached 692.27 billion yuan, a year-on-year increase of 10.8%, continuing two consecutive years. With a digit growth trend, special agricultural products, automobile and motorcycle products, laptops, etc. produced in the central and western regions of China are shipped to all parts of the world through the new channel. Global good products such as Thai durians and Lao bananas are also rapidly entering the Chinese market, injecting strong impetus into the central and western regions' deep integration into the joint construction of the "Belt and Road".
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