GMT EIGHT - OPPORTUNITIES IN CHINA

U.S. October ISM Manufacturing PMI rises to 55.5, beating market expectations; production growth hits a near five-year high

The pace of U.S. manufacturing expansion accelerated in October, with production activity posting its strongest growth in nearly five years, indicating that U.S. manufacturing is continuing to recover after a prolonged slump.

US Stock Market Move | Gold and silver and non-ferrous metals concept stocks rose broadly; Gold Fields Limited Sponsored ADR (GFI.US) gained more than 6%.

On Monday, gold, silver, and non-ferrous metals concept stocks rose broadly. Gold Fields Limited Sponsored ADR (GFI.US) gained more than 6%, and Harmony Gold (HMY.US) rose nearly 6%.

US Stock Market Move | Popular Chinese concept stocks rose broadly, with Bilibili, Inc. Sponsored ADR Class Z (BILI.US) up nearly 8%.

On Monday, the Nasdaq Golden Dragon China Index rose more than 3%, with popular Chinese concept stocks rising broadly. Bilibili, Inc. Sponsored ADR Class Z (BILI.US) and XPeng Inc. (XPEV.US) gained nearly 8%.

Bernstein: Datadog (DDOG.US) and Cloudflare (NET.US) shares have been oversold; strong AI business growth is expected to drive Q3 results above expectations.

Bernstein believes that Datadog and Cloudflare are expected to leverage the rapid growth of their artificial intelligence (AI)-related businesses to deliver performance above the industry average in their upcoming third-quarter earnings reports.

A-share Evening Highlights | CSRC Releases Multiple Policies to Stabilize the Market and Expectations; Major News Emerges from US-Iran Talks

The CSRC, in a Q&A format, released multiple policies to stabilize the market and expectations, covering two structural monetary policy tools, enriching market investment instruments, adjusting and optimizing share buyback rules for market support, and leveraging the counter-cyclical adjustment of margin trading and securities lending, among other aspects.

HENG TAI (00197) Announces Annual Results: Net Loss of Approximately HK$232 million, Up 13.3% Year-on-Year; Trading Resumes on November 3

HENG TAI (00197) announced its results for the fiscal year ended June 30, 2026. Total revenue from continuing operations was approximately HK$255.5 million, down about 40.1% year-on-year; net loss was approximately HK$232 million, up 13.3% year-on-year; basic loss per share was 116.09 HK cents.

US Stock Market Move | Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose more than 5% as Apple Intelligence integrates with Alibaba's Qwen.

On Monday, Alibaba (BABA.US) rose more than 5% to $103.23.

VISTAR HOLDINGS (08535) changes controlling shareholder, receives a general offer at a discount of approximately 86.79%, and will resume trading on November 3.

VISTAR HOLDINGS (08535) and the offeror Mr. Zeng Kai jointly announced that on October 15, 2026, the offeror acquired 900 million shares from the sellers (Success Step, Noble Capital and Legend Advanced), representing 75.0% of the total issued share capital of the company as at the date of this joint announcement, for a total consideration of HK$28.5 million, equivalent to HK$0.0317 per sale share.

US Stock Market Move | WTI crude oil futures fall more than 6%, oil stocks broadly decline.

On Monday, oil stocks broadly declined, with ConocoPhillips (COP.US) falling 2.68%, Occidental Petroleum (OXY.US) dropping 2.56%, and Petrobras (PBR.US) declining 2.26%.

Is the AI stock selloff not a crash signal? Wall Street veteran strategist Yardeni: Valuation pullback combined with upward earnings revisions means semiconductor stocks present a buying opportunity.

Yardeni Research President and Wall Street veteran strategist Ed Yardeni said on Monday that the recent selloff in AI-related stocks does not signal a broad market crash, but rather helps cool down the previously overheated AI investment frenzy.

US Stock Market Move | Oracle Corporation (ORCL.US) falls over 4% in premarket trading; Moody's Corporation affirms its Baa2 debt rating and maintains a negative outlook.

On Monday, Oracle Corporation (ORCL.US) fell over 4% in premarket trading to $125.14.

SOMERLEY CAP (08439) announces interim results: profit attributable to owners HK$3.071 million, up 13.62 times year-on-year.

Somerley Capital (08439) announced its interim results for the six months ended September 30, 2026: total revenue of approximately HK$31.6 million, up approximately 23.4% year-on-year; profit attributable to owners of the company of HK$3.071 million, up 13.62 times year-on-year; earnings per share of 2.07 HK cents.

US Stock Market Move | SK Hynix (SKHY.US) rises over 4% in premarket trading; Nomura says there is a fundamental mispricing of memory

On Monday, SK Hynix (SKHY.US) rose over 4% in premarket trading to $155.38.

Shifts in the Senate and House ripple across US stock sectors! Healthcare unlikely to see broad gains; clean energy competes for policy dividends; AI infrastructure faces delivery and cost tests.

If Democrats achieve strong election results, the clean energy and housing sectors may gain support from policy expectations, while AI, data center, and defense companies may face stricter oversight.

US Stock Market Move | $115 billion acquisition finalized! Lumentum (LITE.US) falls nearly 6% in premarket trading

On Monday, Marvell Technology (MRVL.US) fell more than 2% in premarket trading, while Lumentum (LITE.US) fell nearly 6% in premarket trading.

Oracle Corporation (ORCL.US) Returns to the Bond Market! Plans to Issue US$10 Billion in Bonds to Fund AI Infrastructure

Oracle Corporation is seeking to raise US$10 billion through a US dollar bond issuance.

Hong Kong Financial Development Bureau: Promoting Hong Kong's Development into a Leading Digital Payment Hub

The Hong Kong Financial Development Bureau released a report proposing a strategic vision to promote Hong Kong's development into a trusted, interoperable, multi-currency and multi-rail payment hub.

Paul Chan: Hong Kong's economy is expected to record its strongest growth in five years this year.

Paul Chan said the Hong Kong government will raise its full-year economic growth forecast, expecting Hong Kong to achieve its strongest full-year growth in five years.

Probability of a "blue Congress" rises to about 72%! Midterm election "Senate suspense" affects AI trades, Treasury market wary of further fiscal expansion

Investors are positioning around control of Congress over spending and the outlook for artificial intelligence. A Democratic-controlled Congress could mean investigations into AI and other industries. Analysts say a Republican sweep could mean changes to tax policy and increased defense spending.

Hong Kong Securities Clearing Company: Adjusts the service hours of the HKEX back-up center, effective from November 16

The adjusted service hours are from 9:00 a.m. to 5:00 p.m.

Trump says he will issue "preventive pardons" to Musk and his staff "if necessary" should Democrats win Congress.

U.S. President Trump said that if Democrats take control of Congress after the midterm elections, he is willing to offer protective pardons to Elon Musk and his core staff.

Cyberport, the Hong Kong Financial Services and the Treasury Bureau, and the Hong Kong Monetary Authority launch the "Blockchain and Digital Asset Pilot Subsidy Scheme 2.0" and tConnect Launchpad

Cyberport continues to drive the development of Hong Kong's digital asset and fintech ecosystem. Today it launched two digital asset and fintech initiatives: the "Blockchain and Digital Asset Pilot Subsidy Scheme 2.0," commissioned by the Hong Kong Financial Services and the Treasury Bureau, and the tConnect Launchpad, a collaboration platform supported by the Hong Kong Monetary Authority.

DEEPZERO (02723) Signs Strategic Cooperation with Baidu AI Cloud to Jointly Promote Integrated AI Decision-Making Solutions

DEEPZERO (02723) announced that the company has signed a strategic cooperation framework agreement with Beijing Baidu Netcom Science Technology Co., Ltd. The two parties will engage in in-depth cooperation across three major areasintelligent sales forecasting, intelligent supply chain optimization, and user insight and product matchingto jointly build integrated AI decision-making solutions.

Title context: A Responsible Person from Relevant Departments of the CSRC Answers Questions from Reporters on Recent Work Related to Stabilizing the Market and Stabilizing Expectations Text: A responsible person from relevant departments of the CSRC answered questions from reporters on recent work related to stabilizing the market and stabilizing expectations.

A responsible person from relevant departments of the CSRC answered questions from reporters on recent work related to stabilizing the market and stabilizing expectations.

SpaceX (SPCX.US) takes another step in its wireless ambitions: in talks to acquire Boost Mobile, aiming to become the fourth-largest U.S. carrier

SpaceX is in talks with EchoStar to acquire its wireless service brand Boost Mobile or to obtain access to its network.

Marvell Technology, Inc. (MRVL.US) $115 billion acquisition finalized; Lumentum (LITE.US) releases earnings early: Q1 results beat expectations, next-quarter guidance strong

Lumentum's revenue rose 136.5% year over year last quarter, slightly beating expectations, with strong guidance for the next quarter; on the same day, Marvell announced an all-stock acquisition of the company for $115 billion, the largest equity M&A deal of the year.

Accelerating transformation from "mining" to an AI data center operator! Cipher (CIFR.US) turns profitable year-over-year in Q3, with first HPC revenue recognized

Accelerating its transformation from a Bitcoin miner into a large-scale developer and operator of high-density AI/HPC (high-performance computing) data centers, the most important change in Cipher Digital's third-quarter earnings report is arguably the first recognition of AI/HPC leasing revenue.

Travel demand remains resilient! Marriott (MAR.US) Q3 profit and RevPAR beat expectations, full-year outlook raised.

Hotel operator Marriott International released its fiscal 2026 third-quarter (ended September 30) financial results before the U.S. market opened on Monday.

Hong Kong EnsembleTX upgrade: enables 24x7 round-the-clock settlement of tokenized deposits, participating banks expand to 12

The Hong Kong Monetary Authority announced that EnsembleTX, the pilot phase of the Ensemble project, has entered a new chapter, supporting 24x7 round-the-clock settlement of interbank tokenized deposits through tokenized central bank money.

A-Share Announcement Highlights | BYD Company Limited (002594.SZ) October New Energy Vehicle Sales 490,200 Units, Up Nearly 11% Year-on-Year

BYD Company Limited (002594.SZ) announced that in October, its new energy vehicle production was 488,100 units and sales were 490,200 units.

HKMA's EnsembleTX completes its first cross-bank transaction of "tokenized gold x tokenized deposits"

The HKMA's EnsembleTX has completed its first cross-bank transaction of "tokenized gold x tokenized deposits".

Market capitalization has surged by US$1 trillion in nearly four months, with a 36x P/E ratio hitting a new high since 2008: Apple Inc. (AAPL.US) earnings leave almost no room for disappointment.

Apple trades at a 36x P/E ratio, the most expensive since 2008, with a market capitalization of US$5.03 trillion to reclaim the global top spot, but high valuation and low growth make Wall Street cautious, leaving no room for error in its earnings report.

Three departments: The stock repurchase and increased shareholding relending policy will shift from a phased arrangement to a long-term institutional arrangement; the relending rate will be lowered from 1.25% to 1%.

The meeting proposed that the stock buyback and increased shareholding relending policy will shift from a temporary arrangement to a long-term institutional arrangement, and the relending rate will be reduced from 1.25% to 1%; financial institutions should adhere to the principle of market-based pricing, reasonably add a margin on top of the relending rate, and increase loan disbursement.

ONEWO (02602) enters into a series of debt settlement agreements involving approximately RMB662 million

ONEWO (02602) announced that on November 2, 2026, certain subsidiaries and related parties of the Group entered into a series of debt settlement agreements with various sellers and debtors, pursuant to which the sellers and debtors agreed to settle certain payables owed by the sellers and/or debtors to certain subsidiaries of the Group by transferring properties or parking spaces to certain subsidiaries of the Group. The aggregate consideration of these debt settlement agreements is approximately RMB662 million.

PBOC Takes Action! Third SFISF Operation Tender to Launch Tomorrow, Applications Exceed RMB100 Billion

This morning, the People's Bank of China, the China Securities Regulatory Commission, and several securities firms and fund companies held a symposium. According to attendees, the People's Bank of China stated at the meeting that it will launch the third Securities, Funds, and Insurance Companies Swap Facility (SFISF) operation tender tomorrow.

The Hong Kong Gold Exchange and China CITIC Bank International have completed a tokenized deposit gold test.

As the sole settlement bank of the Hong Kong Gold Exchange, China CITIC Bank International successfully completed the tests, including cross-bank settlement, with the goal of officially launching the service commercially in the market next year.

After the tech stock selloff, UBS sees opportunities to buy on dips: The market underestimates the AI supercycle, and 2027 may mark an inflection point for returns.

UBS says that after the recent AI pullback, hyperscaler valuations look attractive because the market expects the AI cycle to be shorter than the cycle that actually unfolds. Hyperscale data center operators may be nearing the stage when their massive AI investments begin to pay off, and Gerry Fowler, UBS Chief European Equity Strategist and Head of Derivatives, believes 2027 could mark an inflection point.

Hang Seng Indexes Company and Cyberport Join Forces to Promote Index Design Solutions Using Generative AI

On November 2, Hang Seng Indexes Company and Cyberport announced at Hong Kong FinTech Week 2026 that they are joining forces to promote a one-stop index design solution based on the "Thematic Index Exploration Program," using generative AI to enhance the efficiency of thematic index development and respond more quickly to market demand for thematic investment products.

HKEX's clearing houses accepting eligible government bonds and other assets as non-cash collateral welcomed by CMU

This arrangement marks a significant breakthrough in expanding the use of RMB-denominated assets as collateral.

XIZHI TECH-P (01879) enters into tutoring agreement for A-share listing

XIZHI TECH-P (01879) announced that following the company's successful listing on the Stock Exchange, it has carefully assessed capital market opportunities. In order to promote business development, deepen industrial layout, and enhance the company's overall competitive strength, the company intends to initiate work relating to the issuance of RMB-denominated ordinary shares within mainland China.

Chan Kwok-ki: 600,000 visitor arrivals to Hong Kong in the past three days, up more than 30% year on year

Hong Kong Chief Secretary for Administration Chan Kwok-ki said that in the past Friday to Sunday, total visitor arrivals to Hong Kong were about 600,000, up 34% year on year, of which mainland and non-mainland visitors accounted for about 470,000 and 130,000 respectively.

Preview of US Stock Market | All three stock index futures rise together; WTI falls below $100; midterm elections, Apple earnings, and nonfarm payrolls take turns appearing this week.

On Monday, November 2, before the U.S. stock market opened, all three major U.S. stock index futures rose together.

TRIGIANT (01300) pre-won the bid for China Telecom Corporation's centralized procurement project for feeder and accessory products (2026-2028)

TRIGIANT (01300) announced that on October 28, 2026, China Telecom Corporation published the tender result announcement for its centralized procurement project for feeder and accessory products (2026-2028) (the "Tender Result Announcement") through its online business platform. Jiangsu Trigiant Technology Co., Ltd. (the "Trigiant Technology"), a wholly-owned subsidiary of the Group, is a relevant winning candidate and pre-won the bid for the following specific project:

Fragrance demand leads growth, China market recovers: Estee Lauder Companies Inc. Class A (EL.US) Q1 revenue and profit both beat expectations, full-year guidance raised.

Estee Lauder's revenue and profit both beat expectations last quarter, led by fragrance and the China market, and the company raised its full-year guidance.

XUNFEIHEALTH (02506): Proposes to implement full circulation of H shares

XUNFEIHEALTH (02506) announced that the company has submitted an application to the CSRC to convert 35,119,600 domestic shares of the company into H shares. Upon obtaining the filing and/or approval of all relevant regulatory authorities (including but not limited to the CSRC and the Stock Exchange) and compliance with all applicable laws and regulations, such unlisted shares will be converted into H shares and become eligible for listing and trading on the Main Board of the Stock Exchange. According to the company's articles of association, no further shareholders' meeting is required to approve the conversion and listing.

UK factory output posts strongest growth in over two years! Cost pressures resurface, reinforcing the Bank of England's rate hike path this week.

UK orders and output are accelerating their recovery, but rising input costs and stalled hiring mean that improving demand has yet to translate smoothly into corporate profits and job growth.

Global Payments acquisition rumors spark valuation debate! "The Big Short" Burry: The real opportunity lies in Fiserv (FISV.US) and PayPal (PYPL.US)

Burry believes Fiserv's potential acquisition price is $100 to $120, implying 100% to 140% upside from the current price; he reiterates that PayPal is a "fat pitch" while questioning the value of a Global Payments acquisition.

CSPC PHARMA (01093): Positive topline results from Phase III clinical trial of Prusogliptin Tablets combined with Dapagliflozin Tablets and Metformin Hydrochloride Extended-Release Tablets for the treatment of type 2 diabetes

CSPC PHARMA (01093) announced that the Group's developed Prusogliptin Tablets (the Product) recently obtained topline analysis data from a Phase III clinical trial of triple combination therapy with Prusogliptin, Dapagliflozin, and Metformin in patients with type 2 diabetes mellitus (T2DM).

CSPC PHARMA (01093): Phase I/II Clinical Trial of SYS6052 (Recombinant Herpes Zoster Virus Vaccine (CHO Cells)) Officially Launched in China

CSPC PHARMA (01093) announced that the Phase I/II clinical trial of SYS6052 (recombinant herpes zoster virus vaccine (Chinese hamster ovary (CHO) cells)) developed by the Group has officially been launched in China.

CSPC PHARMA (01093): Phase I clinical trial of SYS6057 (recombinant respiratory syncytial virus vaccine (CHO cell)) officially launched in China

CSPC PHARMA (01093) announced that the Phase I clinical trial of SYS6057, a recombinant respiratory syncytial virus (RSV) vaccine (Chinese hamster ovary (CHO) cell) developed by the Group (the Product), has officially launched in China.

Latest

8 m ago

US President Trump: Oil prices fell $10 today, the largest single-day drop in history.

10 m ago

One official involved in the negotiations: What is being discussed is the draft version of the U.S.-Iran agreement that has been under negotiation for the past eight days.

10 m ago

Trump: Oil prices will fall further because we have won on the Iran issue.

15 m ago

UK Maritime Trade Operations: On 1 November 2026 at 20:20 UTC, a vessel was struck by an unidentified projectile 9 nautical miles northeast of Lima, Oman.

16 m ago

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