GMT EIGHT - OPPORTUNITIES IN CHINA

Commodity futures morning session close

Caustic soda fell 4.65% consecutively, apple fell 4.31% consecutively, palladium fell 3.81% consecutively, lithium carbonate fell 2.83% consecutively, and platinum fell 2.59% consecutively.

Spot gold fell below $4,100/oz, down 1.08% intraday.

HKD interbank rates show mixed development; one-month rate reverses decline to rise, reported at 2.75%.

On October 22, HKD interbank rates showed mixed development, with the one-month rate, which is linked to mortgage loans, reported at 2.74500%, up 6.583 basis points.

John Lee: Hong Kong will proactively align with the 15th Five-Year Plan and accelerate the development of the Northern Metropolis

On October 22, John Lee, Chief Executive of the Hong Kong Special Administrative Region, delivered a video address at the 4th Guangdong-Hong Kong-Macao Greater Bay Area Development Business Conference.

Low cost and low volatility make the Singapore dollar a new favorite funding currency for carry traders.

Strategists say that, due to low borrowing costs and diminished expectations of appreciation, the Singapore dollar is becoming more attractive as a funding currency for carry trades, offering advantages over the Japanese yen.

The Shenzhen Component Index fell 2.00%, now at 11469.932 points; the Shanghai Composite Index fell 1.06%, now at 3673.613 points; the ChiNext Index fell 2.96%, now at 2615.055 points.

National Development and Reform Commission: In 2025, China's gross ocean product exceeded 11 trillion yuan, accounting for 7.9% of GDP.

Recently, the National Development and Reform Commission and the Ministry of Natural Resources released the "China Marine Economy Development Report 2026," which systematically summarizes the achievements in China's marine economy development during the "14th Five-Year Plan" period.

"Strongest El Nio in history" approaches; Pictet Asset Management: nowhere to hide for global assets as inflation shock collides with high debt

The prospect of the strongest El Nio cycle in history is prompting a growing number of money managers to race to prepare their portfolios for what they say is an impending shock.

A-share Market Open Brief | Shanghai Composite Index Opens Higher Then Pulls Back; Motor and Siasun Robot&Automation Concepts Buck the Trend with Active Trading

The Shanghai Composite Index opened slightly higher by 0.04%, then fluctuated downward. As of 9:32, it stood at 3,696.76 points, down 0.44%.

BlackRock Fixed Income CIO: High-grade credit presents a "historic" opportunity, with hyperscaler debt the top choice

BlackRock's Rick Rieder believes high-grade bonds present a "historic" opportunity.

Bank of Korea holds rates steady as expected to assess impact of consecutive hikes; governor's remarks may signal future policy path.

The Bank of Korea announced on Thursday that it will keep the seven-day repurchase rate unchanged at 3%, in line with market expectations. After raising rates twice in a row for the first time in more than three years, the central bank chose to pause to assess the impact of rising borrowing costs.

Survey shows: Over 80% of economists expect the Bank of Japan to raise rates in December, with holding steady in October becoming the consensus

More than 80% of Bank of Japan watchers expect the next rate hike to come in December.

Academicians Appraise Innovations, Nationwide First in the Energy Storage Industry | Excellence Ruixin (02687) Discipline Large Model Lands at Tianjin University

The launch event for the Tianjin University Energy Storage Discipline Domain-Specific Large Model and the Seminar on AI-Empowered New Engineering Education Reform was held at Tianjin University. Version 1.0 of the Excellence Ruixin Energy Storage Discipline Domain-Specific Large Model was officially unveiled.

BITFIRE GROUP (01611) Named Best Digital Prime Broker in Asia-Pacific: A Compliance Breakthrough for Web3-Native Institutions

New Fire Technology (01611) Named Best Digital Prime Broker in Asia-Pacific: The Compliance Breakthrough of a Web3-Native Institution New Fire Technology has won the title of "Best Digital Prime Broker in Asia-Pacific," becoming the only Hong Kong Web3-native financial institution to be selected. It reflects that the main axis of competition in Hong Kong's digital asset market is shifting from "who has a license" to "who can turn compliance into institutional-grade services."

Commodity futures open

Nickel rose 2.83% for a consecutive gain, polysilicon fell 2.81% for a consecutive decline, lithium carbonate fell 2.74% for a consecutive decline, styrene rose 2.38% for a consecutive gain, and caustic soda fell 2.36% for a consecutive decline.

A-share Pre-market Report | Full Implementation of AI+; Nasdaq Rises 1.05%; NVIDIA Corporation (NVDA.US) Expands Production

The General Offices of the CPC Central Committee and the State Council issued a document to promote the deep integration of scientific and technological innovation with industrial innovation.

Has the sell-off really gone too far? As CoreWeave (CRWV.US) suffers a double blow in both stocks and bonds, bankruptcy bets plunge and Wall Street bullish reports surge

CoreWeave's unsecured bond yields surge to 15%, yet bankruptcy bets plunge 8 points: the confidence crisis and bull-bear counteroffensive of the AI neocloud.

Broker Morning Meeting Highlights | Economy Bottoming Out and Rebounding in Q3; Data Group Establishment Kicks Off Operational Mainline

Huayuan Securities believes that economic momentum will bottom out and rebound in Q3, there is limited pressure to achieve the full-year target, and market downside risks may be marginally alleviated.

If the SpaceX (SPCX.US) and SpaceX (TSLA.US) merger materializes, Musk's net worth could surge by $110 billion.

Depending on the specific details of the merger, Musk himself could also gain enormous benefits from it.

"Old ginger is still spicier"! Outperforming Semiconductor and Debt Fears, Post-Buffett Era Berkshire (BRK.A.US) Hits New Highs Again

Berkshire Hathaway Class B shares rose as much as 3.2% to $543.06 during Wednesday's session, setting a new all-time high and surpassing the previous record set on May 2, 2025. When Buffett announced his departure a year ago, the stock fell for several consecutive months; now the market has completed its first pricing of the "post-Buffett era" with a new high.

Tesla, Inc. (TSLA.US) Q3 Earnings Report: Savings on the Books, but the AI Story Drifts Further Away

After Tesla (TSLA.US) released its Q3 earnings report, its stock price fell more than 3% in after-hours trading.

51WORLD (06651): 51Sim Included in NVIDIA Halos SAFE Ecosystem List, Will Further Expand Safety Validation Business for Domestic and International Automakers

51WORLD (06651) announced that its subsidiary, 51Sim (Wanwu Mirror (Beijing) Computer Systems Co., Ltd.), has been included in the NVIDIA Halos SAFE ecosystem list announced by NVIDIA at GTC (October 21, 2026), and is the only Chinese company on the list.

CICC: How to hedge against AI risks?

CICC released a research report stating that it remains optimistic about the return prospects of AI assets and recommends addressing recent market volatility through asset allocation, effectively "buying insurance" for AI assets.

AI trading worries ease! Muse gains momentum as Meta (META.US) continues to "burn compute."

Meta's Muse AI agent achieves strong growth, and Meta is increasing its investment in artificial intelligence through spending guidance and new share issuance.

AI bet escalates further! Meta (META.US) plans to issue Class C shares to raise funds; Zuckerberg's "control" remains unchanged.

Meta has established a new class of non-voting shares to raise funds for its massive spending in the field of artificial intelligence (AI).

SANDS CHINA LTD(01928) third-quarter total net revenue increased 1.4% year-on-year to US$1.93 billion.

SANDS CHINA LTD(01928) announced that, under US GAAP, Sands China's total net revenue for the third quarter of 2026 increased 1.4% to US$1.93 billion from US$1.9 billion in the third quarter of 2025.

Amid AI bubble concerns, Texas Instruments Incorporated (TXN.US) delivers solid results: Q3 revenue and profit both beat expectations, Q4 guidance unexpectedly strong.

Analog chipmaker Texas Instruments (TXN.US) reported third-quarter fiscal 2026 results, with revenue of $6.06 billion, above analysts' expectations of $5.90 billion, up 27.7% year-over-year.

New player joins the AI agent race! Anthropic launches Claude Duet preview to challenge OpenAI and Meta

Anthropic announced on Wednesday the launch of the Claude Duet preview. This is an AI agent product aimed at small businesses and professionals, and is expected to compete with OpenAI's Dots and Meta's Muse.

SAP (SAP.US) Q3 revenue exceeds 10 billion mark for the first time; full-year cloud business revenue expected to reach the high end of the guidance range.

SAP achieved a milestone in the third quarter with quarterly revenue exceeding 10 billion euros for the first time, and cloud business growth surpassing expectations indicates that the artificial intelligence (AI) boom has not weakened market demand for its products. The company also expects full-year cloud business revenue to reach the high end of its previous guidance range.

Southwest Airlines Co. (LUV.US) Lowers 2026 Profit Guidance: Rising Fuel Costs, but Record Q3 Revenue and Strong Demand Support Earnings Resilience

Southwest Airlines Co. (LUV.US) reported third-quarter 2026 results after the market close on October 21, becoming the third major U.S. airline this month to lower its full-year 2026 profit forecast due to rising fuel prices. Despite a significant increase in fuel costs, the company still achieved record revenue in the third quarter, driving a substantial year-over-year expansion in profit margin.

New Stock News | Xinde Semiconductor Passes HKEX Hearing, Focused on Semiconductor Packaging and Testing Technology Solutions

According to a disclosure by the Hong Kong Stock Exchange on October 21, Jiangsu Xinde Semiconductor Technology Co., Ltd. has passed the listing hearing for the Main Board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor.

Lam Research (LRCX.US) Q1 revenue surges 54% YoY to a record high! Results and guidance only slightly beat expectations.

Lam Research announced its first-quarter fiscal 2027 results for the period ended September 27, 2026.

UISEE TECH (01511) Partners with Leading Automaker to Provide Intelligent Assisted Driving Software Solution, Another Key Implementation Milestone in the Passenger Vehicle Intelligent Driving Sector

UISEE TECH (01511) announced that, as a core technology partner, the company, together with a leading automaker and core technology ecosystem partners, has provided intelligent assisted driving software solutions for the recently launched all-new Buick LaCrosse, the all-new Cadillac XT5 gasoline version, and the PHEV intelligent hybrid four-wheel-drive Air version, covering major usage scenarios such as urban commuting and long-distance highway driving.

Meta (META.US) Q3 revenue up 26% year-over-year to $64.6 billion; nearly $10 billion in litigation expenses drag operating profit down 37%

The company's third-quarter revenue was $64.601 billion, up 26% year-over-year.

Tesla, Inc. (TSLA.US) Q3 net profit plunges 43%; vehicle deliveries fall 2% year-over-year to 486,500 units

Tesla released its third-quarter 2026 financial report, with its after-hours stock price rising more than 1% at one point.

IBM (IBM.US) Q3 revenue up 5% year-over-year to $17.1 billion; raises full-year free cash flow guidance

IBM's quarterly revenue was $17.103 billion, up 5% year-over-year.

SpaceX (SPCX.US) Stocks and Bonds Diverge Sharply! Aggressive Expansion Plans Push Up Debt Risk Premium as Bond Credit Spreads Widen by 9 Basis Points

Although SpaceX's third-quarter results significantly beat Wall Street expectations, driving the company's stock price up more than 12% at one point on Wednesday, its bonds were sold off by investors.

Middle East tensions escalate again, sparking inflation concerns; U.S. Treasuries sold off, with two-year yield rising to a one-week high.

U.S. Treasuries sold off on Wednesday, with yields rising across maturities.

Overnight US stocks | Risk appetite returns across the board as all three major indices rise; SpaceX (SPCX.US) gains 7.7%

At the close, the Dow rose 360.21 points, or 0.69%, to 52,856.09; the S&P 500 gained 44.60 points, or 0.58%, to 7,757.17; and the Nasdaq added 278.04 points, or 1.05%, to 26,702.85.

Tesla lowered its annual capital expenditure target from more than $25 billion to $20 billion.

Tesla CEO Musk: The goal is to produce 5 million vehicles per year by around 2030.

Anthropic launches Claude Duet research preview.

US Stock Market Move | Crypto-related stocks broadly rise; Strategy (MSTR.US) gains over 7%.

On Wednesday, cryptocurrency-related stocks rose broadly, with Strategy (MSTR.US) gaining over 7%.

Intel Corporation (INTC.US) Makes New Progress in U.S. Wafer Fab Expansion! New Arizona Plant to Begin Production in 2028; Surging AI Chip Demand Boosts Confidence in Capacity Expansion

Intel announced on Wednesday that its repeatedly delayed U.S. wafer fab expansion plan has made significant progress

A-share Evening Hotspots | Tech Tailwinds Arrive! Major Policy Document Issued by the General Offices of the CPC Central Committee and the State Council, Covering AI Development, Core Technology Breakthroughs, and More

The General Offices of the CPC Central Committee and the State Council have issued the "Opinions on Promoting the Deep Integration of Technological Innovation and Industrial Innovation."

XJ INTL HLDGS (01765) spends approximately RMB 115.4 million to acquire residential land in Jialing District, Nanchong City for the construction of staff supporting housing.

XJ INTL HLDGS (01765) announces that Nanchong Xinqi (a wholly-owned subsidiary of the Company) successfully won the land use right of the land parcel transferred by the bureau through public auction, with a consideration of approximately RMB 115.4 million. On October 21, 2026, Nanchong Xinqi (as transferee) entered into a land transfer contract with the bureau (as transferor) in respect of the land acquisition.

AI infrastructure investment boom is expected to continue! SpaceX (SPCX.US) computing power expansion plan exceeds expectations; JPMorgan is bullish on Dell Technologies, Inc. Class C (DELL.US), Credo (CRDO.US), and other beneficiary stocks across the supply chain.

JPMorgan stated in its latest research report that SpaceX's announced Q3 2026 results and latest computing power expansion plan further confirm the strong momentum of AI infrastructure construction and are expected to ease market concerns that power supply and financing constraints may slow AI investment.

ROBOSENSE (02498) subsidiary intends to provide loans with a principal amount of up to RMB 10 million to each of 2 directors.

ROBOSENSE (02498) announced that on October 21, 2026, Shenzhen RoboSense, an indirectly wholly-owned subsidiary of the Company, entered into loan agreements with Dr. Qiu Chunxin (an executive Director, the chairman of the Board and the chief scientist of the Company, and a substantial shareholder of the Company) and Mr. Liu Letian (an executive Director and the chief technology officer of the Company), respectively, pursuant to which Shenzhen RoboSense agreed to provide a principal amount of up to RMB 10 million to each of Dr. Qiu Chunxin and Mr. Liu Letian.

US Stock Market Move | Popular Chinese concept stocks fell broadly, with XPeng Group (XPEV.US) down 6%.

On Wednesday, the Nasdaq Golden Dragon China Index fell 3%, with popular Chinese concept stocks declining broadly, and XPeng Group (XPEV.US) dropping 6%.

Hainan Drinda New Energy Technology (02865) reported a net loss attributable to shareholders of approximately RMB 428 million for the first three quarters, a year-on-year increase of 2.25%.

Hainan Drinda New Energy Technology (02865) announced its results for the first three quarters of 2026, with revenue of approximately RMB 5.223 billion, a year-on-year decrease of 8.08%; net loss attributable to shareholders of the listed company of approximately RMB 428 million, a year-on-year increase of 2.25%; and basic loss per share of RMB 1.4.

Latest

5 m ago

Treasury bond futures morning close

5 m ago

Commodity futures morning session close

5 m ago

Stock index futures morning session close

7 m ago

Palladium continuous main contract falls 4% intraday, currently at 248.40 yuan.

8 m ago

HKD interbank rates show mixed developments; one-month rate reverses decline to rise, reported at 2.75%.

Seeking Coverage

Being Writer

Exploring Cooperation