GMT EIGHT - OPPORTUNITIES IN CHINA

Sun Dong: Hong Kong's traditional advantage industries are gradually upgrading and transforming, while strategic emerging industries are accelerating their development and growth.

On October 28, Sun Dong, Secretary for Innovation, Technology and Industry of Hong Kong, replied in writing to a question from a Legislative Council member.

New IPO News | Syngenta's Hong Kong IPO Said to Be Valued at Least US$66 Billion, Expected to Be One of the World's Largest IPOs Next Year

New progress has been made on the Hong Kong listing of Syngenta, the agrochemical giant under Sinochem Holdings.

Surging global demand drives output growth; major US natural gas producer expects record production this year.

As global demand surges, US energy companies expect natural gas production to hit a record high in 2026.

Commodity futures close

Ethylene glycol rose 5.62% consecutively, lithium carbonate fell 4.64% consecutively, caustic soda fell 3.40% consecutively, butadiene rubber rose 3.32% consecutively, PVC rose 3.29% consecutively, asphalt rose 3.29% consecutively, polypropylene rose 2.77% consecutively, coking coal rose 2.70% consecutively, and low-sulfur fuel oil rose 2.54% consecutively.

JP Morgan: The Fed will hold steady tonight, a US$4.1 trillion funding gap is closing in step by step, and the real highlight for US Treasuries is next week.

JPMorgan expects the Fed to hold steady but hawkish dissents may emerge; the Treasury is likely to keep auction sizes unchanged at its November refunding, and the funding gap for fiscal years 2027 to 2030 will reach US$4.1 trillion.

Nomura (NMR.US) H1 net profit up 27% year-on-year, wealth management net inflows hit record high

Nomura Holdings (NMR.US) released on October 28 its results for the second quarter of fiscal 2026/27 (JulySeptember), ended September 2026: net revenue was JPY607.5 billion (approximately US$3.9 billion), up 18% year-on-year.

Allies aren't buying either! Pro-US countries' purchases of US Treasuries plunge 60% in the first eight months; Japan plummets 99%, South Korea posts record net selling.

Now, even Washington's closest partners are no longer reliably footing the bill for US deficits.

Deutsche Bank (DB.US) Q3 results beat expectations, marking a third consecutive quarter of record profit.

Deutsche Bank (DB.US) announced its third-quarter 2026 results on Wednesday.

John Lee: Hong Kong plays an important role in green capital innovation and governance

Accelerating climate change and biodiversity loss both present challenges, meaning the gap between green capital, innovation, and governance must be bridged, and Hong Kong can make many contributions in these areas.

Paul Chan: World Must Address Three Major Challenges Including Sustainable Transition Financing; Hong Kong Will Contribute in Three Areas

Paul Chan proposed that the world must join forces to address three core challenges: sustainable transition financing, sharing of scientific and technological achievements, and talent training. Hong Kong will leverage its strengths in finance and innovation and technology to serve as a "super connector" and "super value-adder," guiding financial resources to empower innovation and using technological innovation to improve people's livelihoods.

Core inflation exceeding expectations combined with officials collectively turning hawkish: the Reserve Bank of Australia may raise rates for the fifth time this year next week.

Australia's core inflation exceeded expectations, officials collectively turned hawkish, and the market is betting that the Reserve Bank of Australia will raise rates for the fifth time this year next week, with the energy shock putting pressure on the fight against inflation.

UBS Group AG (UBS.US) Q3 profit climbs as Credit Suisse integration nears completion and cost savings exceed expectations

UBS released its Q3 2026 financial report on October 28.

Centaline: Hong Kong's property price index has accumulated a rise of 7.08% in the first nine months; property prices are expected to rise 2% to 3% in the fourth quarter.

The Hong Kong Rating and Valuation Department's latest release shows that the private domestic price index for September 2026 stood at 320.8 points, up 0.19% month-on-month, rising for two consecutive months.

Knight Frank: Hong Kong home prices expected to rise 8-10% year-on-year in 2026

The bank expects the residential market to remain stable through the end of the year, with transaction volume growth continuing to outpace price growth, and forecasts full-year home prices to rise 8-10% year-on-year.

Grant Thornton report: Total number of long-suspended Hong Kong listed companies up 19% year-on-year to 102

Grant Thornton (Hong Kong) CPA's research report on fraud allegations and trading suspensions faced by Hong Kong listed companies shows that as of August 31, 2026, the total number of long-suspended Hong Kong listed companies across the Main Board and GEM increased 19% to 102, up from 86 in 2025 and 80 in 2024.

OpenAI's first AI hardware "Donut" supply chain overview: AAC TECH (02018) and other core beneficiaries

According to market rumors, the "Donut" is only the first product in OpenAI's consumer hardware lineup, and the company will subsequently launch multiple AI hardware devices such as AI earbuds, AI glasses, and a smart pen. As the product matrix gradually materializes, core suppliers in the supply chain are expected to continue receiving orders and realize long-term growth.

SFC: Main services of the Integrated Fund Platform fully operational, helping to consolidate Hong Kong's position as a leading global wealth management center

On October 28, the Securities and Futures Commission (SFC) issued a statement welcoming the launch of platform and agent services by Hong Kong Exchanges and Clearing Limited on the Integrated Fund Platform.

Some annuity, insurance, and public mutual fund institutions have recently increased their purchasing efforts.

Reporter has learned that investment institutions generally believe the A-share market is currently oversold, and some annuity, insurance, and public fund institutions have increased their buying efforts.

CHINA OVERSEAS (00688) Reports Revenue of RMB130.4 Billion and Operating Profit of RMB14.49 Billion for the First Three Quarters

China Overseas Land & Investment (00688) announced its third-quarter 2026 results. In the third quarter of 2026, as global geopolitical conflicts eased somewhat but remained volatile, China's economy stayed generally stable, macro policies continued to take effect, and the economy maintained development resilience under pressure.

STANCHART (02888) Announces Q3 Results: Profit Before Tax US$2.3 Billion, Up 29% Year-on-Year

Standard Chartered (02888) announced its Q3 2026 results. On a reported basis, operating income rose 14% to US$5.8 billion; net interest income rose 9% to US$3 billion, driven by trading volumes and balance sheet portfolio optimization; profit before tax was US$2.3 billion, up 29%.

BEIJING ENT (00392): Beijing Yanjing Brewery (000729.SZ) reported a net profit attributable to shareholders of RMB2.134 billion for the first three quarters, up 20.56% year on year.

Beijing Enterprises Holdings (00392) announced Beijing Yanjing Brewery's (000729.SZ) results for the first three quarters of 2025: operating revenue of RMB14.016 billion, up 4.34% year on year; net profit attributable to shareholders of Yanjing Brewery of RMB2.134 billion, up 20.56% year on year.

A-share Midday Review | ChiNext Index rises 3%, humanoid Siasun Robot&Automation concept surges, baijiu leads declines

The market displayed a pattern of "broad index gains, growth stocks leading, and divergence among heavyweight stocks."

German President Experiences Volkswagen's Latest Intelligent Driving Technology; Horizon Robotics (09660) Volkswagen Collaboration Achieves High-Level Attention

German President Experiences Volkswagen's Latest Intelligent Driving Technology; Horizon Robotics (09660) Volkswagen Collaboration Achieves High-Level Attention.

September Hong Kong private residential property price index rises 0.19% month-on-month; Colliers: maintains full-year property price growth forecast of 8% to 10%

The Hong Kong Rating and Valuation Department announced today that the private residential property price index for the whole territory rebounded to 320.8 in September, up 0.19% month-on-month, rising for two consecutive months, and up 9.34% year-on-year; it has accumulated a rise of 7.1% in the first nine months.

HKD interbank rates show mixed developments; one-month rate reverses losses to rise, reported at 2.71%.

On October 28, HKD interbank rates showed mixed developments, with the one-month rate, which is linked to mortgage loans, reported at 2.71351%, up 1.351 basis points.

OpenAI reportedly plans to purchase Alphabet Inc. Class C (GOOGL.US) TPU chips, expanding its computing power through multiple avenues.

OpenAI is reportedly interested in purchasing artificial intelligence (AI) computing chips from Alphabet's Google, according to a person familiar with the matter, as part of the ChatGPT developer's broader efforts to build out its AI infrastructure.

Hong Kong Rating and Valuation Department: September home price index up 0.19% month-on-month, rising for two consecutive months

Data from the Hong Kong Rating and Valuation Department show that the private domestic price index for the whole territory rose to 320.8 in September, up 0.19% month-on-month, rising for two consecutive months, and up 9.34% year-on-year.

NXP Semiconductors NV (NXPI.US) Q3 Earnings Call: Raises Data Center Target to US$1 Billion, Expects Double-Digit Growth and 60% Gross Margin by 2027

NXP Q3 revenue was US$3.79 billion, up 19% year over year; automotive revenue exceeded US$2 billion for the first time, and SDV annualized revenue surpassed US$1.5 billion; it added a US$5 billion buyback authorization, bringing the total to US$6.3 billion, with Q4 guidance at US$3.85 billion.

Storage chain repricing amid tighter AI financing! SK Hynix (SKHY.US) "surges on profit warning-beating results," Seagate (STX.US) "slumps despite profit warning-beating results"what is the market pricing in?

In the last week of October, the AI storage chain entered a dense earnings season. Two representative companies delivered "profit warnings" almost simultaneously, yet the market gave sharply opposite stock price reactions.

A-share Market Open Brief | All three major indices open higher, computing power hardware chain leads gains

As of 9:31, across the Shanghai and Shenzhen markets, a total of 4,003 stocks advanced, 1,311 declined, and 262 were unchanged.

Suzhou Dongshan Precision Manufacturing (02384) Debuts on HKEX: "A+H" Dual-Capital Layout Takes Shape, PCB and Optical Modules Twin Engines Capture Growth Opportunities

AI computing power "shovel seller" Dongshan Precision (02384) officially listed on the Hong Kong Stock Exchange today (October 28).

HK Stock Market Move | ASMPT (00522) opens nearly 5% higher; Q3 profit of HK$533 million, turning profitable year-on-year

ASMPT (00522) opened nearly 5% higher. As of press time, it was up 4.87% at HK$127.1, with a turnover of HK$6.737 million.

RBNZ keeps benchmark rate at 2.75%, says monetary policy may need tightening in future

On October 28, the Reserve Bank of New Zealand kept its benchmark interest rate at 2.75%, below the market expectation of 3.00%. The RBNZ said global economic growth remains resilient, but factors such as geopolitical tensions, high energy prices, financial stress, and the surge in artificial intelligence-related investment are increasing economic vulnerability. Monetary Policy Committee members unanimously agreed on the inflation outlook, but differed on the weighting of different risks and the timing of the policy response. The committee believes that monetary policy may need to be tightened in the future, but specific actions will still depend on the economic outlook.

Australia's inflation upside risks emerge, RBA faces further tightening pressure at next week's policy meeting.

Reserve Bank of Australia (RBA) Governor Michele Bullock said at a Senate committee hearing on Wednesday that some international and domestic upside inflation risks have emerged or are emerging, and inflation may therefore be higher than the central bank's August baseline scenario.

Assets under management grew more than 7-fold year-on-year: BITFIRE GROUP (01611) officially discloses operating data for the first time, as its strategic transformation is being realized in business scale.

On October 26, BITFIRE GROUP (01611) disclosed its operating data for September and the third quarter of 2026 in an announcement for the first time.

Broker Morning Meeting Highlights | The debt resolution policy mix is drawing to a close, with the fiscal focus shifting toward stabilizing growth.

Guotai Haitong Securities believes that the debt resolution policy mix is drawing to a close, implicit debt risks have been significantly mitigated, and the fiscal focus is shifting toward stabilizing growth.

JIANGSU EXPRESS (00177) will pay an interim dividend of RMB0.25 per share on December 31.

Jiangsu Expressway (00177) announced that it will pay an interim dividend of RMB0.25 per share on December 31, 2026.

HUANENG POWER (00902) signed the Tiancheng Leasing Framework Agreement with Tiancheng Leasing

Huaneng Power International, Inc. (00902) announced that on October 27, 2026, the Company entered into the Huaneng Group Framework Agreement with Huaneng Group, the ultimate controlling shareholder of the Company, for a term from January 1, 2027 to December 31, 2027.

A-share Pre-market Briefing | U.S. memory and optical communications sectors continue to strengthen; PCB industry chain Q3 net profit surges year-on-year

Several companies in the memory and PCB industry chains reported substantial year-on-year net profit growth: Junzheng Co., Ltd.'s Q3 net profit rose 2,595% year-on-year and 61% quarter-on-quarter; Nanya New Material rose 1,296% year-on-year and 218% quarter-on-quarter; Jin'an Guoji rose 1,031% year-on-year and 105% quarter-on-quarter.

AI compute provider Crusoe: CoreWeave (CRWV.US) selloff is "overblown," AI compute demand is "overwhelming"

Chase Lochmiller, CEO of data center developer and AI compute provider Crusoe, said the recent selloff in so-called "neoclouds" is "overblown," and noted that competitor CoreWeave has struck "some very good deals."

Profit surges 7-fold, revenue tops KRW100 trillion for the first time: SK Hynix (SKHY.US) responds to AI bubble debate with record quarterly results

SK Hynix's third-quarter operating profit of KRW83.3 trillion exceeded expectations, and the company announced shareholder returns of about KRW100 trillion for the year.

AstraZeneca PLC Sponsored ADR (AZN.US) CEO hints at foray into cancer vaccines: mRNA technology has years of accumulation, more news expected within months

AstraZeneca considers developing cancer vaccines; CEO says mRNA technology has accumulated experience; personalized vaccine reduces melanoma recurrence rate by 42%, but cost and production capacity remain obstacles to rollout.

Cash reserves far exceed those of almost every U.S. company! Anthropic (ANT.US) holds US$131.7 billion as it sprints toward an IPO, with cash potentially exceeding US$230 billion after fundraising

The latest filings show that Anthropic's cash reserves already exceed those of almost every U.S. company.

ASMPT (00522) Announces Q3 Results: Profit Attributable to Shareholders of HK$533 million, Turning from Loss to Profit Year-on-Year

ASMPT (00522) announced its Q3 2026 results. During the period, the group recorded sales revenue of HK$5.247 billion, up 48.7% year-on-year; total new orders of HK$8.845 billion, up 137.9% year-on-year; profit attributable to shareholders of the company for the period of HK$533 million, turning from loss to profit year-on-year; and basic earnings per share of HK$1.28.

Barclays Sounds the Alarm: A Double Blow from a Stronger Dollar and Violent Rate Swings Will End the "Honeymoon Period" for Carry Trades

Barclays expects G10 currency volatility to rise and persist, with carry trade returns declining since late August. The bank warns against buying the dip, and emerging market currencies may be repriced.

LUFAX (06623) Announces Q3 Results: Total Revenue RMB6.18 billion, New Consumer Finance Loans Up 25.2% YoY

LUFAX (06623) Announces Quarterly Results for the Period Ended September 30, 2026. In the third quarter of 2026, total revenue was RMB6.18 billion; net loss was RMB1.494 billion.

Hong Kong Stock Concept Tracker | PCB Industry Chain Enters Earnings Realization Period; Two Companies' Q3 Net Profit Surges Over 10-Fold (with Concept Stocks)

On October 27, 10 listed companies in the PCB industry chain collectively released their third-quarter reports, with Nanya New Material and Jin'an Guoji both posting third-quarter net profit growth of more than 10-fold.

AI boom collides with "warehouse shortage": U.S. large warehouse vacancy rate plunges from 9.5% to 5.4% in one year

As the AI boom drives data center construction, the United States is facing a shortage of large warehouses suitable for assembling data center equipment.

HK Stock Concept Tracker | Major Move! Shanghai Issues Satellite Internet Industry Action Plan; Domestic Constellation Networking Accelerating into a Rapid Growth Phase (with Concept Stocks)

On October 26, six departments including the Shanghai Municipal Commission of Economy and Informatization issued the "Shanghai Satellite Internet Industry Innovation and Development Action Plan (2027-2030)" (hereinafter referred to as the "Action Plan").

Expectations for a recovery in automotive chips are becoming increasingly divergent, and NXP Semiconductors NV (NXPI.US) saw after-hours selling after its Q4 guidance fell short of expectations.

NXP's Q3 revenue was US$3.79 billion, up 19% and beating expectations, but its Q4 guidance midpoint of US$3.85 billion fell short of expectations, sending the stock down nearly 9% at one point in after-hours trading.

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Goldman Sachs: Cuts HSBC Holdings (00005.HK) target price to HK$188, maintains "Buy" rating; deposit competition in focus

3 m ago

China Index Academy: In January-September, the number of finely decorated project launches in key monitored cities fell 28.7% year on year, while the fine decoration rate remained flat year on year.

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Hong Kong Stock Market Movers | Optical Communication Concept Shows Strong Momentum; Cambridge Technology (06166.HK) and Zhongji Innolight (03308.HK) Both Rise Over 8%

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Sun Dong: Hong Kong's traditional advantageous industries are gradually upgrading and transforming, while strategic emerging industries are accelerating their development and growth.

10 m ago

Citi: Guangdong Investment (00270.HK) results in line with expectations; 5.7% dividend yield is the highest among Hong Kong-listed utilities

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