A[Overnight global news you need to know on Friday: The three major U.S. stock indexes collectively closed higher, and the storage sector opened lower and moved higher; Meta released the open-weighted model Muse Spark Open; Israeli officials said the United States and Israel are negotiating on a plan to attack Iran]
1. Fed Hammaker said that successive supply shocks may trigger inflationary thinking. If public inflation expectations deteriorate, the Fed may need to take more radical actions to deal with it.
2. The U.S. PPI increased by 6.3% year-on-year in September, estimated at 5.3%, and the previous value of 5.4%. The U.S. PPI increased by 1.3% month-on-month in September, which was expected to be 0.6%. In September, PPI rose at the fastest rate in more than four years, and the impact of rising energy costs was further transmitted to the economy.
3. Freddie Mac said in a statement Thursday that the average interest rate on 30-year fixed-rate mortgages remained at 7.4%. The rate is hovering at its highest level since November 2023.
4. Data from the Investment Company Institute (ICI) show that the asset size of U.S. money market funds dropped to $7.92 trillion.
5. The U.S. Central Command stated that Iran’s Islamic Revolutionary Guard Corps’ statement that it controls the Strait of Hormuz is untrue. The United States and its regional partners still control the relevant waters and commercial ships continue to pass through.
6. A spokesman for the multinational coalition led by Saudi Arabia said at a press conference that Yemen’s Houthi armed forces have killed 17 people and injured 333 people in attacks on King Khalid International Airport in Riyadh since October.
7. Israeli officials said that the United States and Israel are consulting on a plan to attack Iran.
8. When communicating with people from the country’s business community, Russian President Vladimir Putin stated that Russia will respond to attacks launched by Ukraine against Russian oil refineries and other logistics and energy facilities.
9. India has set the windfall profit tax on gasoline exports at 2.5 rupees per liter and diesel export windfall tax at 8.5 rupees per liter, effective from October 16.
10. MSCI implemented a freeze on the Türkiye index; MSCI initiated consultations on Indonesia’s proposal to reclassify from an emerging market to an independent market status.
11. The Chicago Board Options Exchange (Cboe) announced that its Cboe Options Exchange (C1) will add morning and after-closing trading sessions for designated stock and ETF options starting next Monday. Options on popular companies such as Alibaba, Nvidia, and Apple are covered by the announcement.
12. Meta released the open weight model Muse Spark Open and cooperated with Apple to promote this model to run locally on Mac computers.
13. Google Quantum Artificial Intelligence released a major breakthrough in quantum computing, and the Willow chip project broke through key resource bottlenecks.
14. Some investors attending Anthropic’s investor day event on Wednesday discussed a valuation of about $1.5 trillion, people familiar with the matter reported. Some investors were disappointed by slower quarter-on-quarter growth in the latest quarter.
15. UniCredit Bank of Italy has officially received approval from the European Central Bank to complete the acquisition of control of Commerzbank.
16. The three major U.S. stock indexes collectively closed higher. The Dow rose 1.08%, the Nasdaq rose 0.08%, and the S&P 500 rose 0.33%. The Philadelphia Semiconductor Index once fell by more than 4% and finally closed down 0.88%, marking the seventh consecutive day of decline. The Storage Concept Index opened lower and closed higher.
17. COMEX gold futures closed up 2.06% at US$4,192.5 per ounce; COMEX silver futures rose by 3.09% at US$57.605 per ounce.
18. The settlement price of WTI crude oil futures was US$97.97/barrel, an increase of US$2.88, or 3.03%. Brent crude oil futures settled at $105.92 per barrel, down $0.14, or 0.13%. B[Alibaba and TSMC are listed to expand U.S. stock options trading hours next week] October 16th, as the U.S. stock market essentially enters “24-hour trading,” options matching stocks will also see an expansion of trading hours. According to an announcement from the Chicago Board Options Exchange (Cboe), its Cboe Options Exchange (C1) will add morning and after-hours trading sessions for designated stock and ETF options starting next Monday. Options on popular companies such as Alibaba, TSMC, NVIDIA, Apple, and Tesla are all covered by the announcement. For investors, the most direct change is that these stock options can participate in pre-market trading of U.S. stocks from 7:30 to 9:25 a.m. ET, or continue trading for 15 minutes after the end of regular trading. This coverage includes the "Seven Big Tech" in the U.S. stock market, as well as popular companies such as AMD, Broadcom, Intel, Micron, Oracle, Marvell Technology, SanDisk, Palantir, and Robinhood. Alibaba, TSMC, Nokia, Pfizer, Bank of America, and Ford are also on the announcement list. B[Guohai Securities: Maintain Alibaba-W “Buy” rating Target price 184 Hong Kong dollars] On October 14, Guohai Securities issued a research report stating that taking into account the continued acceleration of cloud revenue/profit growth, the orderly reduction of losses in the instant retail business, and the gradual stabilization of the traditional e-commerce business, the profit forecast of Alibaba-W has been adjusted. The company’s FY2027-2029 revenue is expected to be 11,312/12,862/1,488.6 billion yuan, respectively, and the net profit attributable to the parent company is respectively 11,312/12,862/1,488.6 billion yuan. 955/1558/214.9 billion yuan, Non-GAAP net profit attributable to the parent company was 1360/1758/236.3 billion yuan respectively, and the corresponding P/E was 18.6x/1 1.4x/8.3x, Neutral gives Alibaba a total target market value of 3.1134 billion yuan in fiscal year 2028, corresponding to a target price of 156 yuan/184 Hong Kong dollars, maintaining a "buy" rating. B[Hong Kong’s Hang Seng Index closed down 0.13% and the Hang Seng Technology Index rose 0.91%] On October 14th, Hong Kong’s Hang Seng Index closed down 0.13% and the Hang Seng Technology Index rose 0.91%. Mingxing Internet stocks generally rose, with Meituan rising by more than 6%, Xiaomi Group rising by more than 5%, and Alibaba rising by more than 3%. The biopharmaceutical sector led the decline, with Ascletis Pharmaceuticals falling more than 12%, Lepu Biologics falling more than 6%, and Peg Biopharmaceuticals falling more than 5%. The optical communications sector fell, with Haiguangxin falling more than 8%, YOFC Optical Fiber and Cable falling more than 6%, Cambridge Technology falling more than 6%, and Zhongji InnoLight falling more than 4%. A[Morning News Selection on October 12]
1. The Central Committee of the Communist Party of China and the State Council recently issued the "Opinions on Developing New Productivity". The opinion proposes to fully implement the "artificial intelligence +" action. Accelerate the application of new generation intelligent terminal scenarios such as intelligent connected new energy vehicles, artificial intelligence mobile phones and computers, and humanoid robots; strengthen the efficient supply of computing power, algorithms, data, etc.; vigorously promote the application of artificial intelligence in various industries; ensure that artificial intelligence is safe, reliable, and controllable.
2. The China Securities Regulatory Commission held an expert symposium on capital markets and financial situations on the 10th to listen to opinions and suggestions. Experts at the meeting suggested: continue to strengthen the construction of market stabilization mechanisms, further expand medium and long-term funding sources, channels and market entry methods, develop and expand patient capital, etc.
3. Zheng Shanjie, director of the National Development and Reform Commission, chaired a symposium on private enterprises on the 10th. Zheng Shanjie said that the National Development and Reform Commission will increase counter-cyclical adjustments, promote the early start of construction of clear major projects such as the "15th Five-Year Plan" and the "Six Networks" construction implementation plan, and stimulate the release of domestic demand potential.
4. Four departments including the Ministry of Industry and Information Technology jointly issued the "Notice on Further Strengthening the Management of Innovative Design and R&D Testing and Verification of Automotive Products (Draft for Comments)". It is mentioned that automobile manufacturers are not allowed to make false, exaggerated or misleading publicity, and are not allowed to induce drivers to ignore their safe driving responsibilities; they are not allowed to equip fully hidden door handles, and are not allowed to use folding displays, flexible displays, etc.
5. The Ministry of Finance released the "Report on the Implementation of China's Fiscal Policy in the First Half of 2026" on the 9th. It is proposed that a more proactive fiscal policy will be effectively implemented to support the all-round expansion of domestic demand.
6. The Ministry of Finance recently arranged to use local government debt balance limit of 550 billion yuan to improve counties and districts’ general public budget security capabilities and support local governments to expand effective investment.
7. The China Securities Regulatory Commission revised and issued the "Measures for the Operation and Management of Publicly Offered Securities Investment Funds (Draft for Comments)" after a lapse of 12 years. It plans to lower the threshold for the establishment of equity funds, hybrid funds, and FOF from 200 million yuan to 50 million yuan, and plans to lift the mandatory liquidation line of "200 million yuan in three years" for sponsored funds and equalize the exit conditions with ordinary funds.
8. According to dealers, wholesalers and terminal retailers in Henan, Shandong, Guangdong, Anhui and other places, overall channel inventory is still being reduced. The inventory of some interviewed wine merchants has dropped by about 10%-20% year-on-year. The turnover of large single products of famous wines is relatively fast, and some terminal inventories have been controlled within 1-2 months.
9. This week (October 12 to 16), many companies have lifted their bans. Shaanxi Energy and Jinke Co., Ltd. have the largest number of shares lifted, accounting for more than 80% of the total number of shares lifted this week. In addition, the market value of five stocks of Shougang Holdings-U, Dapuwei-UW, Jinke, Jerry Technology, and Changjiang Nengke has exceeded 1 billion yuan.
10. Yuexin Semiconductor announced that it will be listed on the GEM on October 13.
11. Luxshare Precision announced that the company and Luxshare Technology are involved in the Section 337 investigation and are still in the early stages of filing the case. Fii Industrial announced that the U.S. International Trade Commission has launched a Section 337 investigation into the company and its holding subsidiaries, involving a "vertical power supply system" patent.
12. Guanghe Technology announced that its net profit in the first three quarters is expected to increase by 100%-107% year-on-year; Jingwang Electronics announced that its net profit in the first three quarters is expected to increase by 205%-265% year-on-year; Hongfuhan announced that its net profit in the first three quarters is expected to increase by 108%-145% year-on-year; China Jushi announced that its net profit in the first three quarters is expected to increase by 100%-110% year-on-year.
13. Tianfu Communications announced in response to rumors of restrictions on overseas import and export policies: Currently, relevant policies do not restrict optical device products and do not affect the company's business.
14. The Shanghai Stock Exchange issued a supervisory letter to Dongbai Group. Dongbai Group announced on the same day that its wholly-owned subsidiary Dongbai Chuangzhi plans to acquire 52.67% of the equity of Kuailing Optoelectronics, a light detection chip company, for 316 million yuan.
15. Beibu Gulf Port announced that it plans to acquire 100% equity of Henggang Terminal, and the stock will resume trading today.
16. Xiontao Co., Ltd. announced that its solid-state battery business has not yet entered the mass production stage.
17. Harbin Pharmaceutical Co., Ltd. announced that the company’s director and president were placed on file and a lien was implemented.
18. Bohai Leasing announced that a subsidiary of its holding subsidiary Avolon plans to purchase 140 B737 MAX series aircraft from Boeing, with a total value of no more than US$26.953 billion.
19. The three major U.S. stock indexes collectively closed higher last Friday, with the Dow Jones Industrial Average rising 0.83%, the Nasdaq Composite Index rising 0.64%, and the S&P 500 Index rising 0.59%. Most popular technology stocks rose. Amazon rose by more than 3%, Microsoft and Tesla rose by more than 2%, Apple fell by more than 1%, and AMD and Intel fell by more than 2%. Popular Chinese concept stocks generally rose, with Century Internet rising nearly 7%, Li Auto, Alibaba, and Miniso rising more than 5%.
20. The airport in Riyadh, the capital of Saudi Arabia, was attacked consecutively on Saturday and Sunday, killing 12 people and injuring more than 300 people. The Houthis claimed responsibility and said the attack was a response to "Saudi aggression." Trump said the United States might consider joining a Saudi-led military campaign and changed his tune to say he would not rule out attacking Iran before the midterm elections.
21. The United States and Russia have reached an arrangement to allow Russia to export diesel. Trump said that relevant diesel will enter the global market starting this month, with a total volume of approximately 13.5 million barrels.
22. Trump said on Sunday that Russia and Ukraine agreed to implement an "energy ceasefire" immediately. Zelensky responded that Ukraine supported the arrangement, while stressing that Russia must also abide by it.
23. A University of Michigan survey showed that the U.S. consumer confidence index fell to a five-month low in October, with inflation expectations rising slightly. The United States will release CPI data for September on Wednesday. Rising gasoline prices are expected to accelerate overall inflation, but core price pressures have eased, which is expected to support the Federal Reserve's view that it will not raise interest rates this month.
24. Nvidia is in preliminary negotiations with Reflection AI, a US open weight model developer, to discuss acquiring the startup or further increasing investment. Amazon is in talks to acquire artificial intelligence startup Decart AI, a deal that could be worth about $7 billion.
25. Micron Technology’s board of directors approved expanding the size of the stock repurchase plan to US$35 billion, which will take effect in December.
26. Anthropic disclosed new misconduct by its AI model, some involving US government websites. Microsoft's CEO has called for an "emergency brake" mechanism for advanced artificial intelligence to prevent agent models from spiraling out of control.
27. The yield premium between France and Italian government bonds reached a new high since the creation of the euro last Friday. Well-known economist Krugman warned that France's deteriorating public finances may trigger a European debt crisis. Bundesbank officials also believe that the risk of the European debt crisis has risen sharply. B[Almost all of the top 30 Chinese concept stocks by market capitalization rose, with Li Auto and Pony.com up more than 6%.] On October 9, most Chinese concept stocks listed on the US stock market rose. Among the top 30 Chinese concept stocks by market value, only Max Intelligent and Shengmei Semiconductor fell, and the other 28 stocks all rose. In terms of individual stocks, Li Auto rose 6.83%, Pony.ai rose 6.77%, Futu Holdings rose 5.41%, Tencent Music rose 5.16%, Miniso rose 5.02%, Bilibili rose 4.78%, Alibaba rose 4.27%, and NetEase rose 4.16%. B[Hang Seng Technology Index closed down 1.1% and the optical communications sector rebounded] On September 29, Hong Kong’s Hang Seng Index closed down 0.48% to 24523.57 points, and the Hang Seng Technology Index closed down 1.08% to 4249.62 points. The optical communications sector rebounded, with YOFC Optical Fiber and Cable rising by over 7%, Cambridge Technology rising by 5%, and Zhongji InnoLight rising by over 3%. Heavyweight technology stocks fell collectively, with Tencent and Meituan falling about 2%, and Alibaba falling more than 1%. Automobile stocks fell, with NIO down 5%, Xpeng Group down 4%, and WeRide down nearly 3%. A[While the overall U.S. stock market fell, most Chinese concept stocks rose, NetEase rose more than 5%] September 28th, while the overall U.S. stock market weakened during the session, most Chinese concept stocks listed in the U.S. rose, with the Nasdaq China Golden Dragon Index rising 0.6%. Among the popular Chinese concept stocks, NetEase rose 5.03%, Zai Lab rose 4.28%, Pony.ai rose 3.63%, Beike rose 3.25%, BOSS Zhipin rose 3.01%, Huazhu Group rose 2.65%, Li Auto rose 2.19%, and Bilibili rose 1.85%. Alibaba fell 0.59%, Baidu fell 1.15%, and Xpeng Motors fell 1.14%. Among the top 30 popular Chinese concept stocks by market capitalization, 21 rose and 9 fell. B[Hong Kong’s Hang Seng Index closed down 1.01% and the Hang Seng Technology Index fell 1.33%] On September 23, Hong Kong’s Hang Seng Index closed down 1.01% and the Hang Seng Technology Index fell 1.33%. Large model concept stocks fell, Zhipu fell by more than 12%, and MINIMAX-W fell by nearly 4%; large technology and Internet stocks generally fell, with Alibaba falling by more than 4%, Xiaomi Group falling by more than 3%, and Tencent Holdings falling by more than 2%. PCB concept stocks strengthened, with Kingboard Laminated Board rising by over 11%, Kingboard Group rising by over 5%, and Shenghong Technology rising by over 3%; Chinese real estate stocks rose, with Ronshine China rising by over 22%, and Vanke rising by 4%. A[Selected evening news on September 22]
1. During his investigation in Shanghai, Li Qiang emphasized that we should accelerate the cultivation and expansion of emerging industries and future industries, and continue to expand and strengthen advanced manufacturing.
2. Alibaba stated that it will fully invest in the construction of AI infrastructure, with the goal of exceeding 20GW of global data centers operated by Alibaba Cloud by 2032.
3. The media under the Ministry of Industry and Information Technology issued an article saying that the "de-Ningdeization" argument is inappropriate. It is normal market behavior for car companies to adjust their supply chains, add suppliers, and deploy self-research.
4. Meta’s consumer-grade AI smartphone Muse, launched in early September, has topped the list of free iPhone app downloads in the United States for three consecutive days since reaching the top last week, triggering the market’s optimistic expectations for CPU demand brought about by the popularity of smartphones.
5. Saudi Arabia has restarted its east-west oil pipeline and is preparing to resume crude oil exports from Yanbu Port later on Tuesday, trade sources said.
6. Senior Iranian officials said that Iran can reopen the Strait of Hormuz within 7 days if the United States reduces military pressure and lifts the naval blockade on Iran.
7. Company news: ① Xingyun Technology: Signed a 453 million yuan computing power service procurement contract. ② Baiwei Storage: It plans to invest 4.5 billion yuan to build the third phase of the wafer-level advanced packaging and testing manufacturing project. ③CICC: 7.3219 million A-shares have effectively declared objections to the stock-swap merger and merger, and trading will resume tomorrow. ④Sichuan University Zhisheng: A case was filed by the China Securities Regulatory Commission for suspected violations of information disclosure laws and regulations.
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