CSC Financial: Tech giants fluctuate after earnings, watch the US midterm elections

CSC Research notes that A-shares accelerated their adjustment this week, trading enthusiasm remained at low levels, and the ChiNext and STAR Market boards fell more than 10%; overseas markets showed mixed performance, with all three major U.S. stock indices closing lower, while Japanese, South Korean, and European stock markets rose somewhat; international gold prices fell about 3%, and international oil prices fell about 3%. In September, industrial enterprise profits above designated size grew 14.4%, with the electronics industry contributing significantly to profit growth; the official manufacturing PMI for October was 49.3%, compared with the previous value of 50.1% and expectations of 50%. The Federal Reserve concluded its October policy meeting and announced it would keep interest rates unchanged; U.S. President Trump may resume strikes on Iran the day after the midterm elections. Earnings reports from U.S. tech giants are gradually being released, with sharp post-earnings market swings; Anthropic formally submitted an IPO application to the U.S. SEC. This week, institutional research activity picked up somewhat, with research interest in industries such as pharmaceuticals and electronics rising notably. Going forward, focus on the U.S. midterm elections, October nonfarm payrolls data, and other events.