Market snapshot
| Index | Level | Change |
|---|---|---|
| SSE Composite | 3813.79 | ▲0.05% |
| SZSE Component | 12641.86 | ▲0.17% |
| ChiNext | 3043.33 | ▲0.22% |
| Hang Seng | 24211.35 | ▲1.79% |
| Hang Seng Tech | 4197.84 | ▲3.06% |
| S&P 500 | 7811.54 | ▲0.59% |
| Nasdaq | 27366.17 | ▲0.64% |
| Dow Jones | 51654.95 | ▲0.83% |
| Gold | 4194.24 | ▲1.47% |
| Crude oil | 91.66 | ▲0.19% |
| VIX | 14.84 | ▼3.70% |
Shanghai turnover: CNY 888.6bn
Macro & policy
No major macro releases today.
Finance news
1. Vice-provincial-level ‘calligrapher’ Lian Ji accused of accepting bribes under the guise of ‘calligraphy fees’ - Caixin
Caixin reports that Lian Ji, a vice-provincial-level official and calligrapher, has been accused of accepting bribes disguised as ‘calligraphy fees.’ The headline did not disclose further details of the case.
Source: 财新
2. French debt: “Too heavy to bear, too big to save”!
A Wallstreetcn commentary argues France’s debt has grown “too heavy to bear and too big to save.” The piece highlights concerns that the sheer size of French debt would make any rescue or refinancing effort ineffective.
Source: 华尔街见闻
3. Annual Pay of Up to 10 Million Yuan: Scenic Spots Scramble for Workers
Scenic attractions in China are offering salaries of up to 10 million yuan a year to recruit workers, sparking fierce competition for talent. The report highlights intense hiring and pay rivalry in the tourism sector.
Source: 界面新闻
4. Europe’s three major stock indices close higher across the board - Yicai
Europe’s three main stock indices closed higher across the board. No specific gains or drivers were disclosed.
Source: 第一财经
5. Verizon posts worst day since 2002 as SpaceX U.S. network plans whack cell provider stocks
SpaceX announced a spectrum deal Thursday as it seeks to expand deeper into telecom through Starlink. The news sparked investor concerns, sending Verizon to its worst day since 2002 and pressuring cell provider stocks.
Source: CNBC Markets
6. Shanghai’s new property policies keep scoring: some new projects see subscription rates above 300%, easing buyer pressure and raising the bar for developers
Shanghai’s new housing policies continue to boost the market, with some new projects drawing subscription rates above 300%. Buyers face less pressure and show more confidence, while developers must compete harder on real quality to attract them.
Source: 第一财经
7. Junk bonds are ‘flashing yellow.’ Watch these warning signs
Spreads in the high-yield bond market have widened, signaling caution. But that alone doesn’t tell the full story, and investors should watch other warning signs.
Source: CNBC Markets
8. Nobel Laureate Warns: France’s Debt Crisis May Be ‘Too Big to Bail,’ Eurozone Faces ‘Explosive’ Crisis
A Nobel laureate has warned that France’s debt crisis may have become “too big to bail.” The risk could spill over across the eurozone and trigger an “explosive” crisis.
Source: 华尔街见闻
Filings & research
Company filings (CNINFO, titles in Chinese)
- 广合科技：2026年前三季度业绩预告
- 国力电子：关于2026年第三季度业绩预告的自愿性披露公告
- 景旺电子：景旺电子2026年第三季度业绩预增公告
- 川金诺：2026年前三季度业绩预告
- 中国巨石：中国巨石2026年前三季度业绩预增公告
- 韶能股份：广东韶能集团股份有限公司2026年前三季度业绩预告
- 艾比森：2026年前三季度业绩预告
- 鸿富瀚：2026年前三季度业绩预告
Research notes
1. Brokerages Rush to Launch ‘Skills’, Reshaping Service Granularity — Who Will Lead?
Securities firms in China are rolling out “Skills” features in quick succession, aiming to reshape the granularity of their services. The report asks which brokerage will pull ahead in this intensifying race.
Source: 券商研报