Market snapshot
| Index | Level | Change |
|---|---|---|
| SSE Composite | 3716.28 | ▲0.24% |
| SZSE Component | 11802.46 | ▼0.12% |
| ChiNext | 2772.38 | ▼0.39% |
| Hang Seng | 24186.83 | ▲0.52% |
| Hang Seng Tech | 4108.24 | ▲1.16% |
| S&P 500 | 7659.44 | ▼1.09% |
| Nasdaq | 26140.03 | ▼2.15% |
| Dow Jones | 52002.41 | ▼0.34% |
| Gold | 4165.40 | ▼0.13% |
| Crude oil | 99.04 | ▲2.63% |
| VIX | 19.99 | ▲21.45% |
Shanghai turnover: CNY 732.5bn
Macro & policy
| Indicator | Forecast | Previous | Actual |
|---|---|---|---|
| GBP BOE Gov Bailey Speaks | — | — | — |
Finance news
1. A-Shares’ Sharp Swings Lay Bare the Other Side of a One-Way Leveraged Market
Chinese equities have swung sharply in both directions, exposing the risks of a market driven by one-way leverage. Caixin reports that concentrated leveraged inflows and outflows have amplified volatility, showing the downside of a leveraged rally.
Source: 财新
2. Shengyi Electronics: Net profit for first three quarters expected to rise 68%–75% YoY
Shengyi Electronics said it expects net profit for the first three quarters to increase 68% to 75% year on year. The forecast points to significant year-on-year earnings growth.
Source: 第一财经
3. Chasing the Fresh Snack Trend, Is Liuliumei Preparing to Do Retail Itself? - Jiemian.com
Liuliumei is reportedly seeking to ride the fresh snack trend and may move into retail itself. The move reflects snack brands’ growing push toward fresh offerings and retail expansion.
Source: 界面新闻
4. Barclays: Best phase of AI trade is over; chip stock plunge is position clearing, not fundamental collapse
Barclays says the best phase of the AI trade has passed, and the recent chip stock selloff reflects positioning clearing rather than a fundamental collapse. The bank distinguishes the market pullback from deteriorating fundamentals.
Source: 华尔街见闻
5. ChangXin Technology Expects Q1-Q3 Net Profit of 131-132.5 Billion Yuan, Turning Profitable Year on Year
ChangXin Technology forecast net profit of 131 billion to 132.5 billion yuan for the first three quarters, swinging to a profit from a year-earlier loss, signaling a marked improvement in its operations.
Source: 第一财经
6. US Treasury Gives No Signal of Cutting Bond Issuance; Treasury Yields Rise, 10-Year Back Above 5.12%
The US Treasury gave no signal of reducing debt issuance, feeding concerns about bond supply. Treasury yields rose, with the 10-year yield climbing back above 5.12%.
Source: 华尔街见闻
7. Brent oil touches $110 as Iran escalates Hormuz attacks, Ukraine vows to hit Russian refineries
Brent crude touched $110 and U.S. oil prices rose sharply Friday as Iran escalated attacks in the Strait of Hormuz. Ukraine vowed to strike Russian refineries, adding to supply concerns.
Source: CNBC Markets
8. Apple’s $1,999 iPhone Duo puts the company’s status-symbol power to the test
Apple’s $1,999 iPhone Duo is seeing early demand. Analysts are weighing whether the foldable can raise iPhone pricing and revenue.
Source: CNBC Markets
Filings & research
Company filings (CNINFO, titles in Chinese)
- 长鑫科技：2026年前三季度业绩预告的自愿性披露公告
- 峰岹科技：2026年前三季度业绩预告的自愿性披露公告
- 德明利：2026年前三季度业绩预告
- 嘉立创：2026年前三季度业绩预告
- 金宏气体：金宏气体：2026年前三季度业绩预告的自愿性披露公告
- 煜邦电力：2026年前三季度业绩预告
- 生益电子：生益电子2026年前三季度业绩预告的自愿性披露公告
- 新锐股份：新锐股份2026年前三季度业绩预告的自愿性披露公告
Research notes
1. CITIC Securities: Hong Kong Stock Capital Rotation, Focus on Innovative Drugs and High Dividends
CITIC Securities notes capital rotation in Hong Kong stocks and suggests focusing on innovative drugs and high-dividend sectors. The brokerage highlights these as key investment directions.
Source: 券商研报
2. New Yongan International: US PPI Tops Expectations, EU May Unveil New Measures Against China
New Yongan International noted that US PPI came in above expectations, potentially affecting inflation and monetary policy outlooks. It also said the EU may introduce new measures against China, with policy developments worth watching.
Source: 券商研报