GMT EIGHT - OPPORTUNITIES IN CHINA

G7 launches an "oil price cooling war"! Release of 100 million barrels of oil reserves combined with Trump abandoning the embargo, global inflation welcomes a key pressure relief valve.

The G7 (Group of Seven) coordinated reserve release pushed by French President Macron has escalated from a discussed proposal to an action commitment; Trump subsequently made clear that the United States will not impose a diesel export ban.

Warsh downplays forward guidance on interest rates; speeches by two senior Fed officials still move the market; October rate hike expectations cool sharply.

Although Fed Chair Warsh has made clear that he does not want to send explicit signals about the interest rate path to the market through forward guidance, speeches by two senior Fed officials this week still significantly influenced investor expectations.

Overnight US stocks | September nonfarm payroll cooling supports the Fed's pause on rate hikes; the three major indices closed higher; SpaceX (SPCX.US) rose 7.35%

At the close, the Dow Jones Industrial Average rose 250.88 points, or 0.49%, to 51,177.44; the S&P 500 Index gained 56.32 points, or 0.73%, to 7,722.77; the Nasdaq Composite Index advanced 319.27 points, or 1.19%, to 27,190.86.

Bank of Japan's rate hike still fails to boost the yen; hedge funds re-establish short bets; long USD positions continue to increase.

Although the Bank of Japan raised interest rates last month as expected, its policy stance fell short of the market's hawkish expectations, and combined with the still-significant interest rate differential between the US and Japan, the yen continues to face depreciation pressure.

US Treasury yields remain elevated! High borrowing costs continue to batter the US economy as the divergence between the AI investment boom and real economic performance intensifies.

As the 10-year US Treasury yield remains above 5%, investors are beginning to focus on a question that may be more important than short-term market volatility: if US borrowing costs stay elevated for a long time, what impact will the economy and financial markets face?

US Stock Market Move | Planning to Raise $60 Billion to Pave the Way for Computing Power for AI Companies Broadcom Inc.(AVGO.US) Rose About 2.9%

On Friday, Broadcom Inc. (AVGO.US) shares moved higher, rising about 2.9% as of press time.

US Stock Market Move | Market expectations for a Fed rate hike in October cool down, cryptocurrency-related stocks rise.

On Friday, U.S. cryptocurrency-related stocks climbed, with TeraWulf (WULF.US) rising over 8%.

U.S. diesel prices hit a record high; Trump says Europe agreed to release large reserves to ease supply pressure.

U.S. President Donald Trump said on Friday that Europe has agreed to release large diesel reserves to ease the tight global fuel supply situation caused by conflicts in the Middle East and Eastern Europe.

US Stock Market Move | "J490" smart home device is on the horizon, Apple Inc. (AAPL.US) rises over 1.1%.

On Friday, Apple's (AAPL.US) stock price moved higher, rising over 1.1% as of press time, with a market capitalization of $4.87 trillion.

US Stock Market Move | Report: Oracle Corporation (ORCL.US) signs agreement to lease high-end AI chips, stock rises over 4.5%.

On Friday, Oracle Corporation (ORCL.US) opened higher, and as of press time, its gain exceeded 4.5%.

US Stock Market Move | NIKE, Inc. Class B (NKE.US) drops over 5% as Q1 revenue misses expectations.

NIKE, Inc. Class B (NKE.US) shares hit a one-year low of $31.97.

US Stock Market Move | SpaceX (SPCX.US) rises over 5%, market cap returns to $2 trillion.

On Friday, SpaceX (SPCX.US) opened higher and continued to climb. As of press time, it was up over 5%, with a market capitalization exceeding $2 trillion.

US Stock Market Move | Large-cap tech stocks rose broadly, with Tesla, Inc. (TSLA.US) up over 5%.

Tesla, Inc. reported third-quarter deliveries that exceeded Wall Street expectations.

US Stock Market Move | NVIDIA Corporation (NVDA.US) rose 2.8% to a record high, with its market capitalization surpassing $5.7 trillion.

On Friday, NVIDIA Corporation (NVDA.US) surged at the open, rising as much as 2.8% intraday to a record high, with its market capitalization surpassing $5.7 trillion.

ISP GLOBAL (08487) subsidiary intends to acquire 60% equity of Way Rich Limited for HK$10,000

ISP GLOBAL (08487) announced that on October 2, 2026, the buyer (Guo Du Industrial Limited, an indirectly wholly-owned subsidiary of the Company) intends to acquire from the seller, Ms. Gong Huiqin, 60% of the issued share capital of the target company, Way Rich Limited, for a consideration of HK$10,000. Upon completion, the target company will become an indirectly non-wholly-owned subsidiary of the Company, and the financial results, assets, and liabilities of the target company will be consolidated into the Group's financial statements.

Hong Kong: Provisional estimate of total retail sales value for August is HK$32.1 billion, up 5.6% year-on-year.

The provisional estimate of the total retail sales value in Hong Kong for August 2026 was HK$32.1 billion, up 5.6% compared with the same month in 2025.

US Stock Market Move | Toshiba Reportedly Plans to Double HDD Production Capacity; Seagate Technology Holdings PLC (STX.US) Falls Over 15% in Early Trading

On Friday, US storage-related stocks declined, with Seagate Technology (STX.US) falling over 15% in early trading and Western Digital (WDC.US) dropping more than 10%.

Nvidia Hits a New High in One Move, AI Computing Power and Tech Themes Stage a Major Counteroffensive! Nonfarm Payrolls Rise Only 29K + Oil Prices Decline, Fed Rate Hike Bets Cool Sharply

Overall, the cooling in nonfarm payrolls and the pullback in oil prices are opening a "valuation decompression window" for AI computing power stocks and, more broadly, global tech stocks that rely on a cooling discount-rate side of the DCF valuation framework.

Saudi West Coast exportable volume rises to a wartime high! Key pipeline transports nearly 6 million barrels per day, Brent crude falls below $100.

Saudi Arabia has increased the throughput of its main cross-border oil pipeline to more than 80% of capacity. Saudi state oil company Saudi Aramco is transporting nearly 6 million barrels of crude oil per day through the East-West pipeline, of which about 4.5 million barrels are available for export.

Preview of US Stock Market | U.S. stock index futures all rise as key nonfarm payrolls data looms; Toshiba's HDD expansion plan deals a heavy blow to the storage sector.

On Friday, October 2nd, before the U.S. stock market opened, futures for the three major U.S. stock indices all rose.

NIKE, Inc. Class B (NKE.US) Q1 Earnings Review: From Cost Reduction and Efficiency Gains to Growth Reshaping, Pace Releases New Signals

In the first quarter, the company's performance met management's internal expectations, with structural improvement in gross margin and prudent expense control forming the core support for the income statement.

2026 National Day holiday season new releases' total box office exceeds 300 million.

According to Maoyan Professional Edition data, the total box office for new films during the 2026 National Day holiday period has surpassed 300 million yuan. "Traces of the Detective," "What Do You Mean, Couple," and "Peppa Pig: Perfect Holiday" currently rank in the top three on the National Day holiday new film box office chart.

Macron plans to convene the G7 to stabilize oil prices, and expectations of a strategic reserve release push crude oil lower! But the refined product supply crisis is hard to resolve.

French President Macron spoke by phone with the presidents of the United States and Canada on October 2, and plans to convene a G7 leaders' meeting as soon as possible to help curb rising global fuel prices and the shortage of refined oil products.

Is the AI frenzy facing a "financing kill line" test? A well-known Wall Street strategist warns: Unless the dollar and U.S. Treasury yields peak, risk appetite will struggle to recover.

Michael Hartnett of Bank of America said investors will avoid riskier trades until the recent surge in the dollar shows signs of peaking. The strategist also noted in a report that market turbulence may persist until bond yields fall back from their highest levels in more than two decades. He advised investors to "buy the dip" in beaten-down assets, favoring an overweight position in bonds within their portfolios.

NAGACORP (03918) total gaming revenue for the first three quarters was US$418 million, a year-on-year decrease of 21.5%.

NAGACORP (03918) announced that for the nine months ended September 30, 2026, total gaming revenue was US$418 million, a year-on-year decrease of 21.5%; net gaming revenue was US$389 million, a year-on-year decrease of 16.7%.

PATEO (02889) completes the acquisition of 70% of the issued shares of Chengdu Mingyi Electronic Technology

PATEO (02889) announces that on August 7, 2026, the Company entered into a share transfer agreement with the transferors, the actual controller of the target company, and the target company Chengdu Mingyi, pursuant to which the Company conditionally acquired approximately 70% of the equity interest in Chengdu Mingyi (53,518,600 shares), for a total consideration not exceeding RMB 1.4 billion. The transaction was completed on October 2, 2026 in accordance with the terms and conditions of the share transfer agreement. Following the completion, the Company holds a total of 53,518,600 shares in the target company, representing approximately 70% of the total issued shares of the target company. The target company has become a non-wholly-owned subsidiary of the Company, and the financial results of the target company will be consolidated into the Group's consolidated financial statements.

Retail buying shows a "great narrowing"! JPMorgan fund flows reveal Nvidia and SanDisk attracting inflows against the trend, while US Treasury ETFs return to retail investors' view.

Retail investors' stock selections are concentrating into a small number of computing power, storage, and large-cap technology names. On the bond side, another clear signal has emerged: as long-term US Treasury prices come under pressure and yields remain elevated, long-term Treasury ETFs drew $260 million in net buying during the week.

MTR CORPORATION (00066) and the Government enter into a settlement deed regarding the High Speed Rail Hong Kong Section and Shatin to Central Link projects, comprehensively resolving historical disputes and claims.

MTR CORPORATION (00066) announced that on 2 October 2026, the Company and the Government, without either party admitting any liability, entered into two settlement deeds (respectively the "High Speed Rail (Hong Kong Section) Settlement Deed" and the "Shatin to Central Link Settlement Deed", collectively the "Settlement Deeds") in respect of the High Speed Rail (Hong Kong Section) project as further defined in the High Speed Rail (Hong Kong Section) agreement described below and the Shatin to Central Link project as further defined in the Shatin to Central Link agreement described below.

HONOR MATRIX (08186): Plans to expand into the electric vehicle charging equipment business; currently in discussions with multiple parties and no binding agreement has been entered into

HONOR MATRIX (08186) announced that, in order to continuously enhance shareholder returns, the Group has identified potential business opportunities related to electric vehicle charging equipment. The Group intends to sell equipment to property owners and provide supporting installation and maintenance services, as well as install equipment in private parking lots to provide charging services for electric vehicle owners. As of the date of this announcement, the Group has been in discussions with equipment suppliers, property owners, and property management companies, but has not entered into any binding agreement.

EPS HEALTH TECH (03860) issues profit warning, expects interim after-tax loss to increase by approximately HK$8 million to approximately HK$12 million

EPS HEALTH TECH (03860) announces that the Group is expected to record an increase in after-tax loss of approximately HK$8 million to approximately HK$12 million for the six months ended 30 September 2026 compared with the corresponding period in 2025. The expected increase in loss for the current period compared with the corresponding period in 2025 is primarily attributable to the decline in revenue from the IRO and CRO services business due to highly intense market competition, as well as the decrease in gross profit of the healthcare products and pharmaceutical business affected by rising procurement costs and clearance of low-priced inventory. During the current period, in view of the challenging market environment, the Group also expects the garment business to record a segment loss of approximately HK$2 million, which is comparable to the corresponding period in 2025.

ASCLETIS-B(01672): Preclinical study of ASC36_35FDC presented at EASD 2026, demonstrating potential for once-monthly to once-quarterly dosing and strong weight loss effects

ASCLETIS-B (01672) announced that key preclinical data for ASC36_35FDC (ASC36_35 fixed-dose combination) were presented at the 62nd Annual Meeting of the European Association for the Study of Diabetes (EASD), held in Milan, Italy, from September 28 to October 2, 2026 (EASD 2026).

HIPINE (02583) will distribute an interim dividend of RMB0.5 per share on November 27.

HIPINE (02583) has announced that it will distribute an interim dividend of RMB0.5 per share on November 27, 2026.

CANOPY SKYFIRE (08245): Guocheng Accounting Firm Has Been Appointed as Auditor

Canopy Skyfire (08245) announced that, following approval by shareholders at the extraordinary general meeting, Guocheng Accounting Firm Limited has been appointed as the Company's auditor, effective from the conclusion of the extraordinary general meeting and continuing until the conclusion of the Company's next annual general meeting.

CHEUK NANG HOLD (00131) will distribute a final dividend of HK$0.03 per share on December 16.

CHEUK NANG (HOLDINGS) (00131) announced that it will distribute a final dividend of HK$0.03 per share for the year ended June 30, 2026, on December 16, 2026.

CHERY AUTO (09973) total sales of its five major brands in September were 276,900 vehicles, a year-on-year increase of approximately 8.4%.

CHERY AUTO (09973) announced that the Group's total sales of its five major brands in September 2026 were 276,900 vehicles, a year-on-year increase of approximately 8.4%.

GOFINTECH QUANT (00290): Its open-ended fund company and two sub-funds approved by the SFC, further expanding the asset management business product line.

GOFINTECH QUANT (00290) announced that Fortis Asset Management Open-Ended Fund Company and its two publicly offered sub-funds, namely Fortis Asset Technology Select Equity Fund and Fortis Asset Fixed Income Fund, were approved by the Hong Kong Securities and Futures Commission on September 30, 2026. Fortis Asset Management Limited (a wholly-owned subsidiary of the Group) serves as the investment manager of the two sub-funds.

As Muse and Astra usher in the era of "digital labor," Musk sets his sights on "AI compute supply"! SpaceX (SPCX.US) turns AI competitors into major customers.

Agents expand a single question-and-answer interaction into continuously executing workflows, driving growth in compute demand and providing SpaceX with strong growth potential to convert its AI infrastructure capabilities into compute sales/leasing revenue.

MReferral: Hong Kong existing property mortgage registrations fell back in September, down about 15% month-on-month.

In September 2026, the number of existing property mortgage registrations in Hong Kong was 7,526, a decrease of 1,272 from August; the number of uncompleted property mortgage registrations for the month was 603, a decrease of 159 from August.

Bonnie Chan: HKEX has always been thinking about how to enhance fundraising in the primary market and trading volume in the secondary market.

HKEX CEO Bonnie Chan said on a radio program that HKEX has always been thinking about how to enhance fundraising in the primary market and daily trading volume in the secondary market.

Bernstein: Memory shortage will persist until 2028, gives Micron (MU.US) a price target of $1,300.

Bernstein analyst Mark Li's team released a quick review of Micron's fiscal 2026 fourth-quarter results, maintaining an "Outperform" rating and a $1,300 price target.

On the first day of the National Day holiday, highway charging volume increased by 60.4% year-on-year.

On the first day of the National Day holiday, national highway charging volume reached 28.0469 million kWh, up 60.40% compared with the first day of last year's National Day holiday, setting a new single-day record for holidays.

NIO-SW (09866) delivered 300,301 vehicles in the first three quarters, up 49.2% year on year.

NIO-SW (09866) announced that the company delivered 37,408 vehicles in September 2026, up 7.7% year on year. The deliveries consisted of 21,318 vehicles from the company's NIO brand, 8,763 vehicles from the company's ONVO brand, and 7,327 vehicles from the company's Firefly brand. The company delivered 109,178 vehicles in the third quarter of 2026, up 25.4% year on year. The company delivered 300,301 vehicles in the first three quarters of 2026, up 49.2% year on year. As of September 30, 2026, cumulative vehicle deliveries reached 1,297,893.

XPENG-W (09868) delivered a total of 41,256 new vehicles in September, up 5% month-on-month.

XPENG-W (09868) announced that in September 2026, XPENG delivered a total of 41,256 new vehicles, up 5% month-on-month. Monthly deliveries of the XPENG L03 exceeded 10,000 units.

HUAYAN ROBOTICS (01021) plans to repurchase no more than RMB 200 million of H shares.

HUAYAN ROBOTICS (01021) announced that the Company will implement a share repurchase plan for its H shares, in order to exercise the general mandate granted to the Board by the shareholders at the 2025 annual general meeting held on June 22, 2026 to repurchase H shares.

Bitcoin breaks above $86,000, up 1.84% intraday.

ART GROUP HOLD (00565) further acquires 6.87% equity interest in Edgeon for a consideration of approximately KRW 586 million

ART GROUP HOLD (00565) announces that, in relation to the acquisition of a 17.90% equity interest in Edgeon Data Co. Ltd (Edgeon), the board is pleased to announce that the buyer and the seller have recently entered into a sale and purchase agreement (Sale and Purchase Agreement II), pursuant to which the buyer has agreed to purchase and the seller has agreed to sell 583,700 shares of Edgeon (representing approximately 6.87% of the issued share capital of Edgeon) for a consideration of KRW 586 million (equivalent to approximately HKD 2.929 million).

JPMorgan Lists Seven Indicators Warning of Q4 Market Moves: Leverage and Positioning "Excess" Return to US Stocks, Names Margin Accounts as the Biggest Vulnerability

JPMorgan points out that elevated positioning and leverage could challenge the stock market in the fourth quarter.

HKD interbank rates diverge; one-month rate falls for a third day to 2.97%.

On October 2, HKD interbank rates showed mixed developments, with the one-month rate, which is linked to mortgage loans, reported at 2.96839%, down 3.679 basis points;

Global bond sell-off storm sweeps markets, dollar rides the momentum to a 17-month high! Euro becomes the "hardest-hit zone"

On Friday, the dollar hovered near a 17-month high, on track for a third consecutive weekly gain.

Bond traders are convinced the Fed will keep raising rates, and even a cooling in tonight's nonfarm payrolls is unlikely to shake the tightening outlook.

Although nonfarm payroll growth is expected to slow, bond traders still expect the Fed to raise rates further.

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