B[Hong Kong’s Hang Seng Index closed up 1.46% and the Hang Seng Technology Index rose 0.29%] On October 30, Hong Kong’s Hang Seng Index closed up 1.46% and the Hang Seng Technology Index rose 0.29%. The consumer sector strengthened, with Mao Geping rising by over 13%, Mengniu Dairy rising by over 9%, Mixue Group rising by over 8%, Dongpeng Beverage rising by over 7%, Nongfu Spring rising by nearly 6%, and Bubble Mart rising by over 4%. The PCB, chip, and semiconductor sectors fell. Shenghong Technology fell by more than 9%, Tianshu Intelligent Core fell by more than 8%, Guanghe Technology fell by more than 7%, Xinqi Micro Packaging fell by more than 8%, GigaDevice fell by more than 8%, Lens Technology fell by more than 6%, and Huahong Grace fell by more than 6%. B[Hong Kong’s Hang Seng Index closed up 0.51% and the Hang Seng Technology Index fell 0.36%] On October 26, Hong Kong’s Hang Seng Index closed up 0.51% and the Hang Seng Technology Index fell 0.36%. The PCB and optical communications sectors collectively fell. YOFC Optical Fiber and Cable fell nearly 9%, Lens Technology fell more than 7%, Cambridge Technology fell more than 7%, and Haiguangxin fell more than 6%. Most chip stocks fell, with GigaDevice falling nearly 6%, Huahong Grace falling more than 4%, and Biren Technology falling more than 5%. Gold stocks fell across the board, with Zijin Mining falling more than 5%, Chifeng Gold and Lingbao Gold falling more than 4%. Physics AI concept stocks strengthened, Huanchuang Technology rose by more than 15%, Hesai rose by more than 8%, and Yuejiang rose by more than 8%. A[Selected key performance announcements of A-share listed companies on Sunday] October 25th, according to incomplete statistics, as of press time, a number of A-share listed companies including Demingli, Tianqi Lithium, Huasheng Lithium, Huasi, Wanlishi, Xinyichang, Tianyuan, Guangxun Technology, and Lens Technology released performance reports for the first three quarters/third quarter of 2026 on Sunday. Among them, Demingli announced that its net profit in the third quarter increased by 2903% year-on-year and 2% month-on-month. Tianqi Lithium announced that its net profit in the third quarter increased by 1,324% year-on-year and decreased by 42% month-on-month. A[Selected key performance announcements of A-share listed companies after the market closing] October 20th, according to incomplete statistics, as of press time, after-market sales include CATL, Yunnan Germanium Industry, Tianyue Advanced, Tianqi Lithium, Montage Technology, CSSC Special Gas, HiSilicon, San Many A-share listed companies, including Yizhong Energy, Zhongfu Industrial, Hainan Mining, Fuxin Technology, Changyu Group, China Mobile, Fuyao Glass, Shiyun Circuit, and Times Wanheng, have released performance forecasts or reports for the first three quarters/third quarters of 2026. Among them, CATL announced that its net profit in the first three quarters increased by 31.6% year-on-year. Yunnan Germanium Industry announced that its net profit in the first three quarters increased by 870% year-on-year. B[The folding screen concept fluctuated and surged, and Jingyan Technology rose by more than 11%] On October 20, the folding screen concept fluctuated and Jingyan Technology rose by more than 11%. Previously, Corson Technology hit the daily limit, and Lens Technology, Rongqi Technology, Liande Equipment, Tonglian Precision, Yi'an Technology, Furong Technology, and Yashi Optoelectronics followed suit. According to the news, Apple’s first foldable screen mobile phone iPhone Duo officially went on sale for only one minute, and the inventory of all models was quickly sold out. B[Lens Technology (06613): Plans to acquire 59.7805% equity of PMG International for US$25 million] On October 16, Lens Technology (06613) announced on the Hong Kong Stock Exchange that on October 16, the company (buyer) and Mr. Lu Songshou (seller), PMG International, Yuanshi Technology and Lu Shaohua signed the "About PMG International Co., Ltd." Co., Ltd.) 59.7805% of the shares, the company conditionally agreed to purchase approximately 2.989 million common shares of Pei Meigao International held by Mr. Lu Songshou, accounting for 59.7805% of the entire issued share capital of Pei Meigao International, for a consideration of US$25 million. After the acquisition is completed, Permeco International will become a holding subsidiary of the company. Accordingly, the Target Group's financial results will be consolidated into the Company's financial accounts. A[Overnight global news you need to know on Tuesday: Federal Reserve Hammaker said interest rates need to be raised further; Russia and the United States have begun negotiations on a diesel deal; Meta launches the Muse Wonder AI model with "cutting-edge capabilities"]
1. Fed Hammaker said that interest rates need to be raised further; it prefers smaller and more frequent interest rate hikes.
2. Russian Deputy Prime Minister Novak said that Russian and American companies have begun negotiations on diesel supply transactions; Russia may supply 3.5 million tons of diesel to the global market per month in the future, returning to previous levels.
3. Majid Nuzaili, spokesman for the Yemeni government forces, issued a statement on the 12th saying that the government forces killed approximately 950 Houthi armed personnel in military operations in the past 24 hours.
4. Yahya Saraya, the military spokesman of the Yemeni Houthi armed forces, issued a statement saying that on the evening of the same day, the Yemeni Houthi armed forces used a ballistic missile to attack the King Khalid International Airport in Riyadh, the Saudi capital, and claimed that the missile accurately hit the target.
5. Qatar Airways issued a travel warning and announced that it would temporarily suspend flights to and from Riyadh and Dammam, Saudi Arabia.
6. Meta said that after 14 months of hard work, the new Muse model has reached the forefront of AI. This new artificial intelligence model called Muse Wonder has "cutting-edge capabilities."
7. Intel is accelerating the promotion of open infrastructure for the era of intelligent AI and has begun to provide GPU D series samples to customers.
8. NVIDIA and Cisco jointly launched a new pluggable optical module form factor USFP (Ultra-Dense Small Pluggable), aiming to expand the network scale of AI factories.
9. Commodity trader Trafigura announced the signing of a binding 10-year offtake agreement with US lithium technology startup EnergyX, involving 100,000 tons of battery-grade lithium products from projects in the United States and Chile.
10. The American supermarket chain Kroger plans to lay off more than one-third of its headquarters employees to simplify operating procedures and enhance market competitiveness.
11. The three major U.S. stock indexes closed with mixed gains. The Dow rose 0.38%, the Nasdaq fell 0.44%, and the S&P 500 fell 0.06%. The storage sector weakened, with SanDisk falling nearly 6%, and SK Hynix and AMD falling more than 4%.
12. The settlement price of WTI crude oil futures was US$93.74/barrel, an increase of US$1.89, or 2.06%. Brent crude oil futures settled at $106.65 per barrel, up $1.93, or 1.84%.
13. COMEX gold futures closed down 0.48% at US$4,195.9 per ounce; COMEX silver futures fell by 0.78% at US$60.57 per ounce. B[Synopsys and Amazon have reached a multi-year strategic IP agreement for custom chips, and the cooperation between the two parties has further expanded into cloud and AI-driven engineering fields] On October 10, Synopsys recently announced that it has reached a strategic agreement with Amazon to further promote Amazon’s innovation in the field of custom chips and promote the development of increasingly complex AI-driven products and cloud infrastructure. The multi-year agreement marks Synopsys' further expansion of its silicon IP business to meet growing demand for application-optimized IP, with Amazon becoming a major customer. In addition, the two parties plan to collaborate to apply AI to engineering workflows from chips to systems, including deploying Synopsys' AI-driven EDA, physical simulation, and agent AI solutions, and developing customized agent AI capabilities to help Amazon engineering teams design, analyze, optimize, and verify complex chips and systems more efficiently. B[The concept of glass substrates fluctuated and weakened, and Vogel Optoelectronics approached the lower limit] On October 8th, the concept of glass substrates fluctuated and weakened, Vogel Optoelectronics approached the lower limit, Dier Laser and Medicay fell more than 10%, and Gobiga, Delong Laser, Caihong Shares, Lens Technology, Linuo Medicine Kit, and Triumph Technology all fell more than 5%. B[DBS: NVIDIA's valuation is still low and AI stocks are far from a bubble] On October 5, Hou Wey Fook, chief investment officer of DBS Group, said that NVIDIA's price-to-earnings ratio and its expected 70% earnings growth next year indicate that technology stocks driven by artificial intelligence are still far away from a bubble. Aggregated data shows that Nvidia's current 12-month price-to-earnings ratio is 17 times. Hou compared that to Cisco Systems' valuation of about 100 times before the dot-com bubble burst. He said in a TV interview: "If the representative company in the field of artificial intelligence is defined as Nvidia, and its current price-to-earnings ratio is only more than ten times, how can we say it is a bubble?" He added that there are still "tailwind factors" for semiconductor and artificial intelligence investments. However, Hou recommends using a "barbell strategy" to "control the overall volatility of the portfolio", that is, allocating technology stocks on the growth side, while matching investment-grade fixed income assets to provide stable returns, and using hedge funds and gold as intermediate risk diversification tools.
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