A[Morning News Selection on October 13]
1. The three major U.S. stock indexes closed mixed on Monday, with the Dow up 0.38%, the Nasdaq down 0.44%, and the S&P 500 index down 0.06%; the storage, optical communications, and computer hardware sectors fell, with Quantum falling more than 9%, Corning falling 6%, SanDisk falling nearly 6%, SK Hynix and AMD falling more than 4%, and Micron Technology and Seagate Technology falling more than 3%.
2. The Korean stock market suffered a heavy setback in early trading. As of press time, the KOSPI index's decline expanded to 4%, SK Hynix fell nearly 5%, and Samsung Electronics fell nearly 4%.
3. The Ministry of Finance and the State Administration of Taxation issued an announcement on the 12th that starting from April 1, 2027, the export value-added tax rebate rate for new energy vehicles will be reduced from 13% to 9%, and the export value-added tax rebate for products such as electronic cigarette equipment and devices will be cancelled.
4. Wang Li, deputy director of the General Office of the China Securities Regulatory Commission, said on the 12th that Wu Qing, chairman of the China Securities Regulatory Commission, will attend the opening ceremony of the 2026 Financial Street Forum Annual Meeting on October 19 and deliver a keynote speech.
5. Data released by the China Association of Automobile Manufacturers on the 12th showed that in September, 1.053 million vehicles were exported, including 571,000 new energy vehicles, a year-on-year increase of 1.6 times; from January to September this year, 4.006 million new energy vehicles were exported, a year-on-year increase of 1.3 times.
6. The Hong Kong Exchange and S&P Dow Jones Indices cooperated to launch the S&P 500 HKEX Technology 100 Index. About 60% is allocated to the HKEX Technology 100 Index and 40% is allocated to the S&P 500 Index.
7. Lianxun Instruments announced that the net profit attributable to shareholders of listed companies in the first three quarters of 2026 is expected to be 1.900 billion-2.100 billion yuan, a year-on-year increase of 1866%-2073%, and a month-on-month increase of 197%-241%. Yuanjie Technology announced that its net profit in the third quarter is expected to increase by 579%-660% year-on-year.
8. Ultrasonic Electronics announced that Q3 net profit is expected to increase by 181%-206% month-on-month, and copper-clad laminate product orders will increase with sufficient orders; Northern Rare Earth announced that net profit in the first three quarters is expected to increase by 135%-139% year-on-year, and the prices of major rare earth products are generally at a high level. Hanyu Pharmaceutical announced that its net profit in the first three quarters is expected to increase by 503%-531% year-on-year.
9. Microguide Nano announced that it plans to raise no more than 4.944 billion yuan in additional capital, which will be used for semiconductor equipment projects, cutting-edge thin film deposition technology research and development center projects, etc.
10. 2Lianban Remote Shares announced that it is planning to acquire control of a certain company; Kerisi announced that it is planning to purchase 100% equity of Shenzhen Honggang Optoelectronic Packaging Technology Co., Ltd., and the stock will be suspended from today.
11. Xingyun Technology announced that it has increased the total amount of the computing power service contract to 3.357 billion yuan, an increase of approximately 9.96% from the original contract.
12. JPT announced that it has received optical fiber connector purchase orders of approximately 1.11 billion yuan from North American customers so far in 2026.
13. Fenghua Hi-tech announced that the controlling shareholder Guangsheng Holding Group plans to reduce its holdings by no more than 6.8556 million shares; Huagong Technology announced that the indirect controlling shareholder increased its holdings by 239,200 shares yesterday and plans to continue to increase its holdings by 50 million to 100 million yuan.
14. Jianghuai Automobile announced that sales of new energy passenger vehicles fell by 18.85% year-on-year in September.
15. Saudi Arabia is studying to expand the crude oil pipeline transportation capacity to areas outside the Persian Gulf to 10 million barrels per day in the next two to three years.
16. The President of the Cleveland Fed advocates small and rapid adjustments to monetary policy to keep inflation expectations stable and avoid major corrections in the future.
17. Data from real estate brokerage companies show that the number of second-hand housing contracts in the United States in September hit the lowest level in the past 12 years, and soaring mortgage interest rates have severely dampened demand for home purchases.
18. Meta released the new artificial intelligence model Muse Wonder, and executives said its performance was at the forefront of the industry. Zuckerberg hinted that Meta will further increase spending in the future, and model development is expected to be significantly accelerated.
19. Microsoft is preparing to deploy the latest version of its self-developed chips in data centers with a scale of several gigawatts.
20. Apple will hold a new smart home product launch conference in New York on October 13. The main product is a smart home hub.
21. Goldman Sachs strategists have turned bullish on the short-term trend of global stock markets and expect corporate earnings to further boost the market.
22. Kazakhstan, a major buyer in the gold market, began selling gold reserves as rising U.S. bond yields increased the appeal of the U.S. dollar.
23. The Royal Swedish Academy of Sciences announced on the 12th that Robert E. Hall and Michael Woodford won the Nobel Prize in Economic Sciences in recognition of their development of new macroeconomic models and significantly improved their ability to implement effective stabilizing policies. A[Overnight global news you need to know on Tuesday: Trump confirmed the US-Iran negotiations, there were reports that the United States may relax sanctions on Iran, international gold and silver plummeted, and Chinese concept stocks performed brilliantly]
1. Trump said that U.S. officials spoke with mediators aiming to end the war between the United States and Iran on the 28th.
2. According to reports, US officials said that Trump is ready to relax sanctions on Iran and unfreeze its frozen assets in exchange for progress on the Iranian nuclear issue. But Trump said the report was untrue.
3. According to reports, Iranian officials are pessimistic about reaching an agreement with the United States before the mid-term elections.
4. According to reports, sources said that Iran has agreed to stop uranium enrichment in exchange for the United States easing sanctions.
5. The vice chairman of the Iranian Parliament’s National Security and Foreign Policy Committee said that the nuclear issue is no longer the core or axis of negotiations, and the Strait of Hormuz is currently the focus of negotiations.
6. White House National Economic Council Director Hassett said that the three-month annualized core inflation rate is close to the Fed’s target.
7. Federal Reserve Governor Cook said that he expects to continue to face inflationary pressures from artificial intelligence and conflicts in the Middle East in the coming months, and that the labor market is ready for interest rate increases.
8. The Federal Reserve’s Barkin stated that low unemployment is a key factor in supporting consumption, and artificial intelligence cannot be said to be completely immune to interest rate pressure.
9. U.S. bond yields continued to surge during the session on Monday, with the 10-year U.S. Treasury bond yield rising to over 5.27%, a new high since 2007; and the 30-year Treasury bond yield setting a new high since 2002.
10. European Central Bank President Lagarde said that there are no signs that higher inflation is becoming entrenched; it is appropriate for the European Central Bank to take appropriate response measures.
11. Nvidia’s board of directors approved an increase in the stock repurchase plan by US$150 billion, bringing the total to US$235 billion. The repurchase plan is expected to be implemented before fiscal year 2028.
12. Anthropic released the Sonnet 5.5 model, which runs significantly faster than Sonnet 5 and is a low-cost alternative and complementary solution to Opus 5.5.
13. Meta CEO Zuckerberg announced that the company has officially launched a new business pillar, the Meta Enterprise Platform, designed to help companies use AI to achieve business growth and transformation.
14. AMD agreed to acquire AI startup World Labs for US$8.2 billion to advance future AI computing.
15. Qualcomm is developing semiconductor chips for wearable devices, including smart glasses, enhanced AR/XR devices, smart watches, etc. Key products include Snapdragon AR and XR.
16. OpenAI is reported to be stepping up preparations and will soon launch a resident AI assistant named "o" to compete head-on with Meta Muse.
17. Private equity firms Bridgepoint and Astorg are reported to be considering selling the financial technology company Fenergo, which may value it at 2 billion pounds or more.
18. HPE Technology announced that it will integrate Nvidia’s OpenShell into its private cloud AI solution.
19. TSMC is accelerating the expansion of its 2nm production capacity. It is reported that monthly production may reach 120,000 pieces by the end of the year, which is higher than the previous market estimate of 90,000 to 100,000 pieces.
20. Samsung Electro-Mechanics announced an investment of 4.27 trillion won to expand packaging substrate production facilities to expand packaging substrate production capacity. The project is located in Sejong Factory, South Korea.
21. Nvidia and OpenAI are reported to have been invited to participate in the meeting between Trump and House Speaker Johnson.
22. The three major U.S. stock indexes collectively closed down, with the Nasdaq falling 0.92%, the S&P 500 falling 0.77%, and the Dow Jones Industrial Average falling 0.67%. Optical communications and memory chip sectors were among the top decliners, with ARM falling by more than 8%, Qualcomm falling by more than 7%, and Intel and SK Hynix falling by more than 5%. Nvidia rose more than 1% after the company announced it would increase its stock repurchase authorization by $150 billion. The Nasdaq China Golden Dragon Index rose 1.12%. Major European stock indexes closed mixed, with Germany's DAX30 index rising 0.07%.
23. International precious metal futures generally closed lower. COMEX gold futures fell 4% to US$4,148.5 per ounce; COMEX silver futures fell by 5.82% to US$61.03 per ounce.
24. The international crude oil futures settlement price closed higher. WTI crude oil futures November contract rose 0.21%, Brent crude oil futures November contract rose 0.92%.
25. Putin signed a presidential decree to increase the number of Russian armed forces to 2,441,630, of which 1,550,500 are on active duty.
26. The EU failed to reach an agreement on providing more Patriot missiles to Ukraine.
27. Israel confirmed Netanyahu’s secret visit to the United Arab Emirates. B[Meta launches a handheld dedicated device to facilitate users to use Muse anytime, anywhere] On September 24th, MetaPlatforms Inc. released MuseCharm, a palm-sized device for using the company's artificial intelligence assistant Muse, equipped with a 2-inch display and a new operating system. The product was launched on stage by Meta's CEO. The device has features such as an OLED touch screen, 5G modem and camera, and can be navigated with the thumb, allowing users to customize and interact with virtual Muse characters. MuseCharm, which will be available in December and is expected to be priced about the same as a smartwatch, will allow users to access the Muse range without Wi-Fi and interact with other MuseCharm devices when nearby. The company initially planned to bring the device to market in 2027, but Zuckerberg pushed the team to bring it forward to 2026 and make it available for sale by the end of the year, according to people familiar with the matter. B[Yuyuan Tantian: The user privacy agreement has been revised 13 times in 3 years, and Anthropic handed over global user data to US intelligence agencies] Silicon Valley in the United States is setting off a fierce debate around the speed and security of AI development. On September 12, Anthropic CEO Dario Amodei, OpenAI CEO Sam Altman and xAI founder Elon Musk reached a rare public consensus late at night in the United States that AI development needs to slow down. Although Altman only responded to one of Amodei's suggestions - embedding third-party evaluators; Musk only said "Dario is right" in this regard, this topic has quickly divided Silicon Valley into two camps recently.
On the other side, Nvidia CEO Jensen Huang, Meta CEO Mark Zuckerberg and others have made it clear that companies should "run as fast as possible" and can stop on their own if they feel it is unsafe. There is no need to "press the brakes" uniformly.
On the surface, this debate is a battle over technical lines, but in reality the dispute is over who has the right to define AI safety standards. Paradoxically, Amodei, who claims AI is safe, actually behaves contrary to this.
On September 14, foreign media revealed that many American companies such as NVIDIA have begun to restrict or stop using Anthropic’s cutting-edge models.
American companies began to no longer use large American models. One of the triggers was Anthropic's unilateral modification of the data retention agreement: it is mandatory to retain user interaction data for 30 days for security review, and users have no right to refuse.
This is not the first time it has revised its user data agreement.
Master Tan sorted out the 13 version revisions since Anthropic released the first version of the "Privacy Policy" in 2023, and compared it with the privacy information management system standard ISO/IEC 27701, and found that Anthropic users' privacy data security risks are getting higher and higher.
Most mainstream AI companies at home and abroad have stated in their privacy policies that they will cooperate with law enforcement agencies’ data retrieval requirements in accordance with the law. But what is different about Anthropic is that, in addition, its privacy policy stipulates that as long as it feels necessary, it can share user data with US intelligence agencies without going through legal procedures. The judgment and standards are completely defined by the enterprise.
Why does Anthropic do this? Analyzing the content and timing of each privacy policy modification, we can find three steps for Anthropic to become an "intelligence center."
First, transfer overseas user data to the United States.
Starting from May 2024, Anthropic mentioned in five versions of its privacy policy that relevant data of users in Canada, Brazil, South Korea, the European Union and other places will be transferred to the United States in accordance with the terms by registering subsidiaries or supplementary regulations. The current policy for Canadian users even states that U.S. data protection standards may be looser. This means that as soon as the user's data reaches the United States, it is no longer protected by the standards of the country where the user is located.
Second, expand the sources of user data.
Between June 2024 and September 2025 alone, the number of user data sources available to Anthropic increased from 3 to 6, including user conversations, self-generated data, and user identity data newly added this year. These data can be recovered and used to train Anthropic's large model. The larger the amount of data and the more types, the stronger the ability of the trained large model may be. To this end, Anthropic also simultaneously revised the regulations related to large model training - from not being used by default in 2024 to being used by default in September 2025. Even if the user refuses to provide data, Anthropic may flag it on the grounds of "security" and still use it for large model training.
Third, provide intelligence to U.S. intelligence agencies in exchange for benefits.
On February 23, 2026, Anthropic released a report saying that it found that Chinese companies were involved in so-called "distillation" activities, and stated in the report that it "is sharing technical indicators with relevant intelligence agencies." Since then, Anthropic has continued to provide additional relevant intelligence: On June 10, 2026, it submitted a letter to the U.S. Senate, stating that by analyzing 28.8 million user conversation data and 25,000 user accounts, it had obtained new information on Chinese companies’ participation in so-called “distillation” activities.
To become an intelligence center, it is not enough to have data, you also need people. In July 2026, Anthropic’s official website announced three “Threat Intelligence Manager” positions. Two of the positions give priority to the following conditions: Fluency in languages such as Mandarin or Russian, experience in conducting intelligence analysis in a government or military environment, and holding a "Top Secret Security Clearance" in the United States. They are respectively responsible for investigating whether there is public opinion manipulation or model "distillation" supported by foreign governments in user interaction data.
On September 10, an Anthropic threat intelligence report was released that was highly consistent with the responsibilities of the July recruitment position. It analyzed approximately 200 million alleged so-called "distilled" interaction data between users and Claude models.
On September 12, Anthropic CEO Amodei cited this report and proposed three plans to "slow down" the development of AI.
First, collect data from all over the world to define "threats", then recruit "our own people" to analyze the data, and then turn the company's security standards into American standards. When American standards are introduced to the world, the "AI development risks" mentioned by Amodei will naturally no longer exist.
At this time, looking back at the "technical consensus" reached by the three giants, it is essentially a problem of the US AI industry itself. What they want to slow down is the speed at which others are catching up; what they want to speed up is their own collection of data, mining of intelligence, and definition of rules and security. (Yuyuan Tantian) A[List of U.S. stock market pre-market news: The Federal Reserve’s interest rate decision was announced in the early morning; Zuckerberg opposed the “AI deceleration theory”; Micron said that substantial new memory production capacity will not be added until 2028] On September 16th, the financial news of the U.S. stock market that investors need to focus on is as follows:
1. The three major U.S. stock index futures collectively rose. Dow Jones futures rose 0.24%, S&P 500 futures rose 0.32%, and Nasdaq 100 futures rose 0.56%.
2. International oil prices fell collectively. WTI crude oil futures prices fell 1.94% to US$98.795/barrel; Brent crude oil futures prices fell 1.37% to US$107.261/barrel.
3. International gold and silver spot prices both rose. Spot gold prices rose 1.10% to US$4,341.14 per ounce; spot silver prices rose 1.45% to US$64.57 per ounce.
4. The three major European stock indexes rose across the board. Britain's FTSE 100 index rose 0.61%, France's CAC40 index rose 0.57%, and Germany's DAX30 index rose 0.30%.
5. The Federal Reserve will announce its September interest rate resolution, summary of economic forecasts and interest rate dot plot at 2 a.m. Beijing time on September 17. At 2:30 a.m., Federal Reserve Chairman Kevin Warsh will hold a press conference. The market is now almost certain that the Fed will raise interest rates by 25 basis points this time.
6. Meta CEO Zuckerberg said that AI laboratories should strengthen model safety through independent evaluators and consultants, rather than slowing down AI development through coordinated actions.
7. Micron Technology executive Sadana predicts that truly meaningful new memory supply will not start to ramp up until 2028, and there is still no balance point between supply and demand.
8. SK Hynix responded to reports that it is cooperating with Intel to produce semiconductor chips in the United States, saying that there is no conclusion yet.
9. SK Hynix reached an agreement with the labor union and agreed to pay 50% of profit dividends in cash, eliminating the threat of interruption of its production activities.
10. Anthropic has signed its first data center lease in Australia with Singaporean data center developer Zerra. The project has a planned total capacity of 2.16GW and is scheduled to be put into operation in phases starting in 2027.
11. Musk once again hinted that his “two trump cards”: Tesla and SpaceX may deepen cooperation or even merge.
12. People familiar with the matter said that Starbucks is considering selling a majority stake in its Japanese business, with a valuation expected to be about US$3 billion.
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