GMT EIGHT - OPPORTUNITIES IN CHINA

The US government shutdown is nearing a historic record, with Trump misjudging the determination of the Democratic Party. A "critical moment" has arrived!

The government shutdown in the United States is approaching 32 days, nearing the longest historical record of 35 days. At the same time, a severe humanitarian crisis is rapidly escalating as the Supplemental Nutrition Assistance Program (SNAP), which provides food assistance to 42 million Americans, is set to expire on November 1st. The Senate is planning a new round of voting on November 3rd, but the two parties are still unwilling to compromise on key issues.

CICC: Maintains BYD ELECTRONIC (00285) with a "outperform industry" rating, target price of HK$50.

In the field of AI robotics, the company has started to manufacture intelligent logistics robots on a large scale for use within the group, helping to improve warehouse and distribution efficiency.

The third quarter report of the chip design sector on the Science and Technology Innovation Board: 59 companies achieved positive revenue growth, and 10 companies turned losses into profits.

Financial reports disclosed by 68 chip design companies show that 59 science and technology innovation board chip design companies achieved positive revenue growth in the first three quarters of 2025, accounting for over 86% of the total; 26 companies achieved positive net profit attributable to mother in the first three quarters and realized year-on-year growth.

In October, LEAPMOTOR (09863) delivered a total of 70,289 vehicles, an increase of over 84% compared to the same period last year.

In November, Lafa, the all-new personalized strategic product Lafa 5, is about to start pre-sale. In addition, the first model of the Lafa A series, the A10, will also debut at the 2025 Guangzhou Auto Show.

US I Bond interest rates rise slightly to 4.03%, fixed rates lowered but still outperforming most savings products.

The US Department of the Treasury's official website announced on Friday that the annualized interest rate for the new round of inflation-linked savings bonds (I Bonds) has been set at 4.03%, effective from this Saturday, and will be maintained for six months.

Hong Kong Monetary Authority: The amount of negative equity residential mortgage loans decreased to HK$156.8 billion at the end of the third quarter.

On October 31, the Hong Kong Monetary Authority announced the latest survey results on negative equity residential mortgage loans as of the end of the third quarter of 2025.

Warner Bros. explores acquiring Xiang Bobo, receives "buy" rating and $28 price target from Redburn.

Redburn Atlantic raised Warner Bros. Discovery's rating from "neutral" to "buy" on Thursday, with a target price of $28.

New stock news | De Magnesium Medicine submits application to Hong Kong Stock Exchange. Revenue from skin prescription drugs ranks first among innovative drug companies in China.

According to the disclosure made by the Hong Kong Stock Exchange on October 30th, DeMai Medicine Co., Ltd. (referred to as DeMai Medicine) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC as its exclusive sponsor.

US Stock Market Move | Vetoed CoreWeave (CRWV.US) Acquisition Offer Core Scientific (CORZ.US) Rises Over 6%

As of the time of drafting, the stock has risen by over 6%, to $22.08.

Hwang Renxun appears in Seoul, all topics revolve around HBM, 2nm process and autonomous driving.

NVIDIA CEO Huang Renxun meets with leaders of Samsung Electronics and Hyundai, emphasizing that cooperation between NVIDIA and large Korean technology companies will continue to escalate; "Fried chicken and beer culture" and the $5 trillion market jointly take the stage: Huang Renxun joins forces with Samsung and Hyundai, accelerating the Korean AI landscape.

Consumption resilience drives performance: MasterCard's (MA.US) Q3 revenue and profit exceed expectations.

Due to strong consumer and corporate spending, Mastercard (MA.US) exceeded analysts' expectations in profits for the third quarter.

The price of copper breaking through the roof step into a correction trajectory? The market is hotly discussing whether copper will replicate the "high places are cold" of gold.

After the price of copper soared to a historic high, the upward trend may cool down.

The Bank of Japan kept interest rates unchanged as scheduled, with two "hawkish" members voting to support a rate hike.

The Bank of Japan keeps interest rates unchanged on this date.

Powell "cut interest rates but remained dovish" did not promise a rate cut in December. The US dollar rose in response and gold is at risk of "fading".

On Wednesday, Federal Reserve Chairman Jerome Powell stated that after two consecutive interest rate cuts, it is not certain whether there will be another rate cut at the next meeting in December, causing the US dollar exchange rate to rise.

Microsoft Corporation (MSFT.US) reports better-than-expected Q1 performance with a significant increase in data center spending, raising concerns about the "money-burning" AI business.

Microsoft (MSFT.US) released its first-quarter report after the market closed on October 29th, Eastern Time. The announced increase in expenses exceeded Wall Street's expectations, causing concerns in the market about the high costs of artificial intelligence infrastructure.

Meta's performance plummeted after the earnings release! One-time taxes dragged down Q3 net profits by 83%, while AI investments continued to surge, causing concern in the market.

Meta plans to significantly increase total spending in 2026 and intends to continue maintaining historically high levels of investment in data centers and other infrastructure to drive its artificial intelligence (AI) development goals.

The Federal Reserve once again cuts interest rates by 25 basis points. Powell says the rate cut in December is not a foregone conclusion.

The Federal Reserve cut interest rates for the second time on Wednesday, but Chairman Powell's subsequent remarks caused the market to cool significantly, as he released significant uncertainty about whether there would be another rate cut in December.

IPO Preview | Traditional chemical industry leader breaking into the Hong Kong Stock Exchange, can Binhe Chemical Group solve the dilemma of "increasing revenue without increasing profit"?

When the "industry leader" status meets continuously shrinking profitability, how should we describe Binhua Group's second listing story?

collective intelligence consultation: In late October, the global laptop panel market enters the off-season cycle period.

In October, the global display panel market presents a pattern of "shrinking demand, supply adjustment, and price stabilization".

It is almost certain that the Federal Reserve will cut interest rates by 25 basis points. Powell's forward guidance may enter a "silent moment."

The market has a widespread expectation for two things at this week's Federal Reserve policy meeting - policymakers will decide to cut interest rates by 25 basis points, and Powell may not provide too much forward guidance.

National Bureau of Statistics: China's Innovation Index steadily increasing in 2024, our country's innovation environment continues to improve.

The trend of China's innovation index shows that the innovation environment in our country is continuously improving, innovation investment continues to increase, innovation output is growing rapidly, innovation performance is steadily improving, and the foundation of a strong country in science and technology is constantly being strengthened, providing solid support for high-quality development.

After-hours surge! Bloom Energy (BE.US) turned its Q3 losses into profits compared to the previous year, with revenue and profits both exceeding expectations.

Bloom Energy's third-quarter performance exceeded expectations.

Cold reception in the artificial intelligence boom! Adobe (ADBE.US) CEO claims that stock price is severely undervalued.

Adobe's CEO stated that his company has been undervalued due to Wall Street's focus on chips and artificial intelligence training infrastructure.

Everything about breaking through the 7000 mark has been set up! The S&P 500 is gathering momentum to challenge the milestone point.

Wall Street expectations + technical factors + capital inflows + restart of stock buybacks + endorsement of historical data... The S&P 500 index is just one step away from reaching 7000 points.

Tesla, Inc. (TSLA.US) Chairman urges shareholders to ignore voting advisors' opposition and support Musk's "largest in history" compensation plan.

On the eve of the shareholders' meeting next week, Tesla's board chairman, Robyn Denholm, publicly urged shareholders to ignore the dissenting opinions of proxy advisory firms, labor unions, and corporate governance groups and vote in favor of CEO Musk's compensation plan.

AMD (AMD.US) officially separates from ZT Systems manufacturing department and launches a full-stack AI solution.

AMD recoups real gold and bets on a full-stack AI computing solution: focusing resources on the full-stack AI development ecosystem and computing power platform of CPU+GPU+ROCm software stack.

The strongest earnings season of the S&P 500 in four years? Nearly 70% of the companies that have reported have exceeded revenue expectations.

The sales of companies in the S&P 500 index are expected to reach the highest level in four years in this financial reporting season, and US companies seem to be able to handle the impact of tariffs well.

Daqo New Energy Corp Sponsored ADR(DQ.US) Q3 polycrystalline silicon sales volume surged 134% month-on-month, turning losses into profits under non-GAAP standards.

Costs are down and ASP is rising. According to the latest financial report data, the company's overall revenue in the third quarter of 2025 was approximately $244.6 million, compared to approximately $75.2 million in the second quarter of 2025. By comparison, in the third quarter of 2024, overall revenue was approximately $198.5 million.

CSRC Chairman Wu Qing makes a major statement! Will launch the implementation of deepening the reform of the Growth Enterprise Board.

Chairman Wu Qing of the China Securities Regulatory Commission announced at the annual meeting that they will start implementing a deepening reform of the ChiNext board, setting new listing standards that better fit the characteristics of emerging industries and future industrial innovation and entrepreneurship enterprises, providing more precise and inclusive financial services for new industries, new formats, and new technology companies.

Pan Gongsheng: The overall operation of the bond market is currently running well. The People's Bank of China will resume open market operations of buying and selling government bonds.

The 2025 Financial Street Forum Annual Meeting will be held from the 27th to the 30th in Beijing Financial Street. This year's forum theme is "Global Financial Development under Innovation, Change, and Reshaping".

Trading reminder: The Double Ninth Festival holiday is approaching, and the Hong Kong stock market will be closed on October 29th.

On October 29th, Hong Kong will have a holiday for the Double Ninth Festival. The Hong Kong stock market will be closed on October 29th (Wednesday) and will resume trading on October 30th (Thursday).

Moving forward in the fog! The Federal Reserve is expected to cut interest rates again this week. Could internal disagreements intensify?

The Federal Reserve is expected to cut interest rates for the second time in a row this week in order to support the shaky job market.

Financial Outlook | The Cost of AI Ambitions: Can Meta (META.US) prove that its expenses are justified with performance?

Meta Platforms (META.US) will release its third quarter financial report after the market closes on Wednesday, with a particular focus on the progress of its artificial intelligence business.

A-share market opening express | Three major indices collectively open higher, storage chip sector leads gains.

The Shanghai Composite Index rose by 0.48%, while the ChiNext Index rose by 1.75%. In terms of market performance, the storage chip, CPO, and lithography machine sectors were among the top gainers.

The anticipated gold collapse has happened. Now everyone is waiting to buy at the bottom?

The Tuesday gold crash not only did not cause panic, but instead ignited a fervor for small investors around the world to rush into the market "bottom fishing". At the same time, the core views of most precious metals analysts remain steadfast. However, analysts led by Bank of America strategist Michael Hartnett have raised doubts, believing that the "devaluation trade" logic supporting gold prices is not solid.

Shenwan Hongyuan Group: What are the similarities and differences between Naoe Economics and Abenomics?

The market believes that Abenomics is equivalent to "Abeconomics 2.0". However, due to differences in political and economic environments, it is not appropriate to equate the two.

U.S. sanctions on Russian oil companies subverted market expectations, causing hedge funds with large short positions to miss out on the rising market.

The hedge fund holding a record short position in Brent crude oil failed to take advantage of this week's rise in oil prices.

CPI data strengthens expectations of interest rate cuts, economists warn that inflation may return. The yield on 10-year US Treasury bonds may rise to 6%.

On Friday, the US stock market saw a big rally and hit a new all-time high, as the September Consumer Price Index (CPI) came in lower than expected, providing more solid reasons for the Federal Reserve to continue lowering interest rates next week and in December.

US Stock Market Move | Banking stocks rose across the board, with Goldman Sachs Group, Inc. (GS.US) up more than 3%.

On Friday, bank stocks in the US rose across the board. As of the time of writing, Goldman Sachs (GS.US) and Morgan Stanley (MS.US) rose by over 3%.

US Stock Market Move | Pony.ai (PONY.US) rose nearly 8%, sprinting towards the goal of a fleet of a thousand vehicles and achieving a balance between profits and losses per vehicle.

On Friday, Pony.ai (PONY.US) surged nearly 8%, reaching $19.29.

Meta (META.US), TikTok is accused of violating data access rules, and the EU may impose a fine of up to 6% of global revenue.

According to the preliminary investigation results of the European Union, Meta Platforms (META.US) and TikTok under ByteDance have both violated the EU regulations on the management of illegal content.

"AI bubble talk" is rampant, Goldman Sachs doesn't believe in rumors.

Concerns about the AI bubble in US stocks have resurfaced.

A-share market closing review | Innovation and entrepreneurship soared! Technology returns to the forefront.

Today, the market surged strongly, with the Shanghai Composite Index breaking through the box range formed since August 25th and hitting a ten-year high. Technology stocks returned to the forefront, driving the index of innovation and entrepreneurship to collectively rise sharply!

Strong Q3 performance and improvement in cash flow, Eni S.p.A. Sponsored ADR (E.US) has increased its stock buyback plan by 20%.

ENN Oil emphasized that due to the significant improvement in cash flow prospects and better-than-expected profit performance, the company will expand the scale of stock buybacks this year.

A-share market opening express: A-shares fluctuate and rise! Shanghai Composite Index breaks through previous high point, storage chip concept is active.

On October 24th, the A-share market fluctuated and rose, with the Shanghai Composite Index breaking through the previous high and hitting a new high for the year. As of 9:41, the Shanghai Composite Index rose by 0.41%, the Shenzhen Component Index rose by 1.07%, and the ChiNext Index rose by 1.41%.

In the "data shortage" era, the CPI is coming. Will the market be surprised or pleased tonight?

This month, Wall Street is extremely eager for data, with the release of the September Consumer Price Index (CPI) report on Friday becoming almost the sole focus. This also increases the likelihood of it becoming a key event that could impact market trends.

A-share pre-market report | US and Europe initiate new round of sanctions against Russia! International oil prices skyrocket, Chinese assets surge in the late night

The communique of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China has been released. It proposes accelerating high-level technological self-reliance, building a strong domestic market, and expanding high-level opening-up to the outside world.

Securities firm morning meeting highlights | Favorable factors of supply and demand for thermal coal are superimposed. The price of coal at the production site is expected to continue to rise.

In today's brokerage morning meeting, Zhongxin Capital pointed out that the supply and demand of thermal coal is favorable, and the price of coal at the producing areas is expected to continue to rise.

The arms race of AI infrastructure is heating up. Alphabet Inc. Class C (GOOGL.US) and Anthropic have reached a huge deal of one hundred billion chips!

Alphabet (GOOGL.US) subsidiary Google will supply up to 1 million specialized artificial intelligence chips to the emerging AI company Anthropic PBC.

Responding to the manufacturing industry reshoring trend, Apple Inc. (AAPL.US) has shipped its first batch of "Made in America" AI servers from Texas.

Apple announced on Thursday that its factory in Houston, Texas has begun shipping advanced servers for use in artificial intelligence applications.

Latest

1 m ago

CITIC Securities: Structural opportunities still exist, timing is of limited importance.

1 m ago

sent a message to Zheng Liwen: Moving towards unification step by step requires patience and dedication.

3 m ago

According to a report released by China Galaxy on November 2, it gave a "recommended" rating to Kelun Pharmaceutical (002422.SZ). The reasons for the rating include: 1) The volume and price of large infusion and antibiotic intermediates are under pressure, and innovation has slightly increased R&D expenses; 2) The data on Lushenashu's monoclonal antibody were impressive at ESMO, and approval for second-line lung cancer has opened up market space. (Daily Economic News)

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Betta Pharmaceuticals (300558.SZ) has reached a strategic cooperation agreement with Seon's Biotechnology, obtaining the exclusive distribution rights of the FRSW117 product in the Greater China region.

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Nenghui Technology (301046.SZ) plans to jointly establish a joint venture company with AI computing power operator Zhejiang Lisan.

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