A-share Evening Highlights | Iran signals willingness to negotiate! Oil prices plunge, gold rallies

Evening Highlights 1. International oil prices plunged intraday, gold rallied, US stocks opened higher Importance: On the evening of November 9, the front-month Brent crude futures contract fell below US$93/barrel intraday, with intraday losses once widening to 5%; the front-month WTI crude futures contract fell as much as 5% intraday. As of 22:01, the front-month WTI crude futures contract was at US$86.83/barrel, down 4.40%; the front-month Brent crude futures contract was at US$93.72/barrel, down 4.68%, both hitting new lows since early September. According to Cailianshe, Iranian President Masoud Pezeshkian said on the 9th that Iran's Supreme Leader Mojtaba had ordered an end to the "neither war nor peace" state, and said Iran is willing to negotiate but will not yield to coercion or bullying. At the same time, COMEX gold futures were at US$4,133.00/ounce, up 1.43%; the US dollar index fell 0.45% intraday to 101.8 points; the three major US stock indices opened higher, with the Dow Jones up 1.08%, the S&P 500 up 0.84%, and the Nasdaq Composite up 0.87%. 2. October CPI up 0.7% year on year, PPI up 5.7% year on year Importance: Data released by the National Bureau of Statistics on November 9 showed that in October 2026, the national consumer price index (CPI) rose 0.7% year on year; the producer price index (PPI) rose 5.7% year on year and 0.7% month on month. 3. NDRC and four other departments issue document, 20 measures to strengthen consumer infrastructure construction Importance: The National Development and Reform Commission, the Ministry of Transport, the Ministry of Commerce, the Ministry of Culture and Tourism, and the State Administration for Market Regulation recently jointly issued the "Guiding Opinions on Strengthening Consumer Infrastructure Construction to Promote Benign Interaction Between Consumer Investment," proposing 20 specific measures across five major areas: urban and rural commercial facilities, service consumption facilities, travel consumption facilities, distribution facility networks, and new types of consumption facilities, and making clear that strengthening consumer infrastructure construction is an important lever for improving consumption supply and promoting effective investment. According to Cailianshe, the National Development and Reform Commission estimated on November 9 that by the end of the "15th Five-Year Plan," total retail sales of consumer goods will reach about RMB60 trillion. 4. Seven ministries and commissions jointly issue guiding opinions on high-quality development of shipping insurance Importance: According to the Information Office of the Ministry of Commerce on November 9, seven ministries and commissionsthe National Financial Regulatory Administration, the Ministry of Transport, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the People's Bank of China, and the State-owned Assets Supervision and Administration Commission of the State Counciljointly issued the "Guiding Opinions on Accelerating the High-Quality Development of Shipping Insurance," setting requirements in five areas: focusing on key sectors to improve protection levels, improving the market system to enhance international competitiveness, optimizing claims services, advancing strict and strengthened supervision, and improving operating mechanisms, including formulating standard shipping insurance clauses, expanding the use of the renminbi, and enhancing independent pricing capabilities. 5. China Mobile Limited: computing power investment to exceed RMB100 billion in 2027 Importance: According to Cailianshe, China Mobile Limited disclosed that its planned total procurement amount for 2027 exceeds RMB500 billion, of which computing power investment will exceed RMB100 billion, and it plans to build five gigawatt-level intelligent computing parks this year and next. In the afternoon of the same day, the computing power chip sector moved sharply intraday, with Enflame Technology up nearly 15%, and Cambricon and MetaX up more than 5%. 6. Jensen Huang under internal investigation, Nvidia down 8.8% in early trading Importance: According to Cailianshe, in early US trading on November 9, Nvidia shares fell 8.8% to their lowest point since March; Cailianshe reported that Jensen Huang's personal scandal intensified and he is under internal investigation. On the same day, most large US technology stocks rose, with Amazon up 5.7% to US$274/share, reaching a new high since mid-August; Broadcom extended gains to 6%. 7. PBOC conducts RMB182 billion overnight reverse repo operation Importance: The People's Bank of China announced that on November 9, 2026, it conducted an RMB182 billion overnight reverse repo operation through fixed-rate, quantity-based bidding at an operating rate of 1.25%, fully meeting the demand of primary dealers. 8. 10 ETFs included in Stock Connect targets from today Importance: According to a notice from China Investment Information Services Limited, the list of Stock Connect ETFs under Shanghai-Hong Kong Stock Connect was regularly adjusted, with 10 ETFs added, effective from November 9. According to an HKEX announcement, after this round of adjustment, the total number of eligible Stock Connect ETFs increased to 41, covering 14 ETF issuers; the indices tracked by the new products cover themes such as dividends, technology, and artificial intelligence, including ChinaAMC Hong Kong-US AI, Harvest Technology 50, CSOP FTSE Asia Tech Index ETF, and CSOP Nomura FTSE HK-Japan Equity Cash Flow Focus Index ETF. Opportunity Outlook GMTEight sorts out the sectors with the highest attention on the day and their catalyst events. 1. PCB: 40 PCB companies achieved total operating revenue of RMB238.006 billion in the first three quarters, up 46.78% year on year; net profit attributable to parent companies was RMB35.329 billion, up 102.03% year on year. 2. Ice and snow economy: ski resorts such as Chongli and Koktokay have successively opened. 3. Commercial space: SpaceX will conduct its 15th Starship test in mid-November. 4. Lithium batteries: the 17th International Advanced Electric Vehicle Lithium Battery Conference was held from November 9 to 12. 5. Power equipment: the 2026 High-Quality Development Conference on New Power Equipment and Engineering Applications was held from November 9 to 10. Among them, recent catalysts for the PCB sector are concentrated in upstream material supply. According to 21 Finance, in the early hours of November 4, a fire occurred at Panasonic's copper-clad laminate plant in Hukou, Hsinchu, Taiwan, China, with the burned area accounting for about one-third of the plant area; the plant's MEGTRON series high-speed copper-clad laminate capacity accounts for about 20% of Panasonic's global capacity for that series. A Sinolink research report noted that strong AI demand is driving both PCB prices and volumes higher; many AI-PCB companies have strong orders, are operating at full capacity with all output sold, and are aggressively expanding production; demand for AI copper-clad laminates is robust, and due to slow capacity expansion by overseas copper-clad laminate manufacturers, shortages and price increases continue. Announcement Highlights Positive announcements 1. Wus Printed Circuit: plans to repurchase RMB500 million to RMB1 billion of company shares; Hepai Youlian, controlled by the family of actual controller Wu Ligan, plans to increase holdings by RMB20 million to RMB30 million 2. Shenzhen S.C New Energy Technology Corporation: Chairman Zuo Guojun proposes repurchasing RMB300 million to RMB500 million of company shares 3. Guangzhou Tinci Materials Technology: controlling shareholder and chairman Xu Jinfu proposes repurchasing RMB50 million to RMB100 million of company shares 4. Shengyi Electronics: shareholder Dongguan Sci-Tech Innovation Investment Group plans to increase holdings by RMB50 million to RMB100 million, and already made its first increase of RMB45.1527 million on the same day 5. Chongqing Construction Engineering Group: a consortium it leads won a bid for an urban supporting infrastructure project worth about RMB494 million Negative announcements 1. Baida Group Co.,Ltd: shareholder Xizi United and its concert parties collectively reduced holdings by 3.2953 million shares on November 9, accounting for 0.8759% of total share capital 2. Fujian Nanping Sun Cable: shareholder Xiangyu Group reduced holdings by 4.22 million shares from November 3 to 6, accounting for 0.59% of total share capital, with its stake falling to 12.95% 3. Guangzhou LBP Medicine Science & Technology: shareholder Zhuji Gaotejia and its concert parties reduced holdings by 678,600 shares from October 9 to November 9, accounting for 0.73% of total share capital 4. Zhejiang Jingu: abnormal stock trading fluctuation; revenue and profit contribution from the embodied intelligence Siasun Robot&Automation structural parts business is extremely low Tomorrow's Focus Watch on November 10: Kerui Si lists on the STAR Market; lock-up shares of 9 companies including Xinlian Integrated and Shenyang Machine Tool are released; Shanghai Awinic Technology is suspended pending a plan to acquire a controlling stake in Yutai Semiconductor; Chengdu Screen Micro electronics is suspended for one day. Relevant arrangements are subject to exchange and company announcements.