Market snapshot
| Index | Level | Change |
|---|---|---|
| SSE Composite | 3707.48 | ▼1.59% |
| SZSE Component | 11816.79 | ▼2.43% |
| ChiNext | 2783.17 | ▼2.92% |
| Hang Seng | 24062.72 | ▼1.03% |
| Hang Seng Tech | 4060.99 | ▼2.72% |
| S&P 500 | 7744.06 | ▲0.33% |
| Nasdaq | 26713.03 | ▲0.08% |
| Dow Jones | 52177.69 | ▲1.08% |
| Gold | 4153.44 | ▼0.41% |
| Crude oil | 96.17 | ▼0.34% |
| VIX | 16.46 | ▲7.79% |
Shanghai turnover: CNY 774.4bn
Macro & policy
| Indicator | Forecast | Previous | Actual |
|---|---|---|---|
| GBP BOE Gov Bailey Speaks | — | — | — |
| USD Fed Chairman Warsh Speaks | — | — | — |
| CAD BOC Gov Macklem Speaks | — | — | — |
Finance news
1. Veteran Financial Technocrat Huang Qifan Under Investigation
Caixin reports that Huang Qifan, a veteran financial technocrat who served in senior posts in Shanghai and Chongqing, is under investigation. Long seen as a political survivor, his career trajectory is drawing fresh scrutiny.
Source: 财新
2. DeepSeek Restored After Nearly 5-Hour Outage - Yicai
Yicai reported that DeepSeek has been restored after an outage lasting nearly five hours. The cause and scope of the disruption were not immediately clear.
Source: 第一财经
3. AI Is ‘Reverse-Engineering Everything’ — Is the Sky Falling for Software?
Jiemian.com published a commentary asking whether AI’s growing ability to reverse-engineer software threatens the industry’s established development and business models. It is an opinion piece on industry trends rather than a report on a specific event.
Source: 界面新闻
4. Buyback Plan: Company Chairman Proposes 800 Million to 1 Billion Yuan Share Repurchase
A company’s chairman has proposed repurchasing 800 million to 1 billion yuan of the firm’s shares, Yicai reported. The report did not name the company or disclose further details of the plan.
Source: 第一财经
5. Report: Investors Lower Anthropic IPO Valuation Expectations as Revenue Growth Slows
Investors are reportedly cutting their valuation expectations for Anthropic’s planned IPO, citing a slowdown in the AI company’s revenue growth. The move signals growing caution over the high-growth outlook for the AI unicorn.
Source: 华尔街见闻
6. CoreWeave credit default swaps hit distress levels as investors sour on AI debt
On Thursday, CoreWeave’s credit default swaps showed deepening distress. Investors are turning more negative on AI-related debt, raising concerns about the company’s credit and financing risk.
Source: CNBC Markets
7. Jensen Huang Backs CoreWeave; Nasdaq Ekes Out Gain, Dow Rebounds Over 1%, Chip Index Falls for Seventh Day, US and European Bonds Rise
Nvidia CEO Jensen Huang publicly backed CoreWeave. The Nasdaq eked out a gain, while the Dow rebounded more than 1%. A chip index fell for a seventh straight session, and US and European bonds rose.
Source: 华尔街见闻
8. Netflix Chief Content Officer Bela Bajaria is leaving, will be replaced by Peter Rice
Netflix announced that chief content officer Bela Bajaria is leaving the company. Former Disney executive Peter Rice will take over the role.
Source: CNBC Markets
Filings & research
Company filings (CNINFO, titles in Chinese)
- 沐曦股份：关于沐曦集成电路（上海）股份有限公司2026年前三季度业绩预告的自愿性披露公告
- 深南电路：2026年前三季度业绩预告
- 光迅科技：武汉光迅科技股份有限公司2026年前三季度业绩预告
- 华峰化学：2026年前三季度业绩预告
- 海光信息：海光信息技术股份有限公司关于2026年前三季度业绩预告的自愿性披露公告
- 中科曙光：中科曙光2026年度前三季度业绩快报
- 美年健康：2026年前三季度业绩预告
- 睿创微纳：2026年前三季度业绩预增的自愿性披露公告
Research notes
1. Financial Data Commentary: Credit Contraction Slows
A macro research note carried by Stockstar reviews the latest financial data and concludes that the pace of credit contraction has slowed. It is a routine macro tracking report offering no detailed figures or policy recommendations.
Source: 券商研报
2. Macro Commentary: September U.S. CPI Review and Market Observations
A research note from Securities Star reviews September U.S. CPI data and market observations. It analyzes inflation trends and their market implications, though specific figures are not included in the provided excerpt.
Source: 券商研报