Market snapshot
| Index | Level | Change |
|---|---|---|
| SSE Composite | 3842.19 | ▲0.31% |
| SZSE Component | 12887.62 | ▼0.11% |
| ChiNext | 3135.28 | ▼0.23% |
| Hang Seng | 24280.56 | ▲0.00% |
| Hang Seng Tech | 0.00 | ▼100.00% |
| S&P 500 | 7818.93 | ▲0.58% |
| Nasdaq | 27599.89 | ▲0.45% |
| Dow Jones | 51521.28 | ▲0.49% |
| Gold | 4153.57 | ▼0.25% |
| Crude oil | 90.33 | ▲1.00% |
| VIX | 15.01 | ▼3.29% |
Shanghai turnover: CNY 679.4bn
Macro & policy
No major macro releases today.
Finance news
1. 2026 Nobel Prize in Physics announced
Yicai reported that the 2026 Nobel Prize in Physics has been announced. The report gives no further details on the laureates or the specific work being recognized.
Source: 第一财经
2. Domestic flight fuel surcharges to rise
Fuel surcharges on China’s domestic flights are set to increase, according to Jiemian.com. The adjustment means passengers will pay more on top of base fares when flying domestically.
Source: 界面新闻
3. Systematically Cultivating Telecom Fraud Kingpins: The Rise and Fall of Kokang’s Bai Family
Caixin traces the rise and fall of the Bai family in Myanmar’s Kokang region, which built its power on local armed forces and systematically backed telecom fraud operations as a key financier and protector. Joint China-Myanmar crackdowns on cross-border scam rings ultimately brought the family down.
Source: 财新
4. Shenzhen Real Estate Agency Sees Sales Surge 200%
Some real estate agencies in Shenzhen have seen sales jump by as much as 200%, Jiemian.com reported. The figure suggests a pickup in local housing transaction activity, though the scope and methodology of the data remain unclear.
Source: 界面新闻
5. Google Releases EmbeddingGemma 2: A 740M-Parameter Multimodal Embedding Model Built for On-Device Private Search
Google has released EmbeddingGemma 2, a 740-million-parameter multimodal embedding model. It is designed to run on-device, enabling local search and retrieval without sending data to the cloud, which strengthens user privacy.
Source: 华尔街见闻
6. Bessent Rehashes ‘Debt Reduction’ Old Tune; Market Participants: Vision Is Not a Plan
US Treasury Secretary Scott Bessent again stressed debt reduction, but market participants said the goal lacks a concrete execution plan and is a vision rather than a plan. The remarks sparked discussion over the credibility of fiscal policy.
Source: 华尔街见闻
7. Chart: A look at the S&P 500’s remarkable and defiant trip to a new record
The S&P 500 returned to an intraday record on Tuesday. Tech gains, easing oil prices and Treasury yields helped stocks overcome months of market shocks.
Source: CNBC Markets
8. Trillions are being ‘wasted’ on the AI boom, Arthur Hayes says. He’s betting on what comes next
Former BitMEX CEO Arthur Hayes says the AI infrastructure boom is overbuilt. He is betting that an eventual crash and bailout will push crypto higher.
Source: CNBC Markets
Filings & research
Company filings (CNINFO, titles in Chinese)