Market snapshot
| Index | Level | Change |
|---|---|---|
| SSE Composite | 3730.65 | ▼0.01% |
| SZSE Component | 11817.42 | ▲0.00% |
| ChiNext | 2746.29 | ▲0.00% |
| Hang Seng | 24186.83 | ▲0.52% |
| Hang Seng Tech | 4108.24 | ▲1.16% |
| S&P 500 | 7690.73 | ▲0.41% |
| Nasdaq | 26430.89 | ▲1.11% |
| Dow Jones | 51966.03 | ▼0.07% |
| Gold | 4129.70 | ▼0.26% |
| Crude oil | 98.45 | ▼0.09% |
| VIX | 18.44 | ▼7.75% |
Macro & policy
| Indicator | Forecast | Previous | Actual |
|---|---|---|---|
| GBP Average Earnings Index 3m/y | 3.8% | 3.9% | — |
Finance news
1. India’s finance minister says market liquidity makes it easier for investors to exit
India’s finance minister Nirmala Sitharaman said market liquidity makes it easier for investors to exit. She identified fuel, fertilizer and access to capital as risks for India’s economy in 2027.
Source: CNBC Markets
2. What Are China’s Two Core Advantages in the AI Era? Former World Bank Chief Economist Bullish on China’s Next Round of Growth
A former World Bank chief economist argued in an interview with Yicai that China holds two core advantages in the AI era, citing them as grounds for optimism about the country’s next phase of growth. The report did not specify the two advantages in its headline.
Source: 第一财经
3. Tomato Novel Adjusts Signing Rules, Newcomer Bonus Period Ends
Tomato Novel has adjusted its signing rules, ending the newcomer bonus period for new authors. The change is expected to affect author onboarding and the platform’s content ecosystem.
Source: 界面新闻
4. MiniMax officially releases new-generation Flash model M3.1 Flash
MiniMax has officially released its new-generation Flash model, M3.1 Flash, according to Yicai. The announcement disclosed the model name and release, while detailed specifications and performance were not provided.
Source: 第一财经
5. Former National Forestry and Grassland Administration Director Zhang Jianlong: ‘Only making statements without implementing’ central requirements
Zhang Jianlong, former director of China’s National Forestry and Grassland Administration, was cited for merely paying lip service to central requirements without carrying them out, according to Caixin. The case highlights accountability issues in implementing central policies.
Source: 财新
6. Nvidia Claims Major Breakthrough: Over 8,000 GPUs Power Record Quantum Error-Correction Simulation, Cutting Required Physical Qubits by 90%
Nvidia announced a breakthrough in simulating fault-tolerant quantum computing, using more than 8,000 GPUs for a record-scale simulation. The work reportedly reduces the number of physical qubits needed by 90%, highlighting GPU acceleration’s role in quantum error-correction research.
Source: 华尔街见闻
7. S&P Global Warns AI-Related Liabilities of US Tech Giants May Exceed Known Scale
S&P Global warned that US tech giants’ AI-related liabilities may be larger than disclosed, suggesting financial risks could be underestimated. The warning highlights concerns over the transparency and scale of AI spending and debt at major technology companies.
Source: 华尔街见闻
8. Financial Morning Brief | 18 Active ETFs Approved, A-Shares Receive Incremental Capital
Caixin reports that 18 actively managed ETFs have been approved, expected to bring incremental capital to China’s A-share market. The move may improve liquidity and expand active investment tools.
Source: 财新
Filings & research
Company filings (CNINFO, titles in Chinese)
- 赛分科技：苏州赛分科技股份有限公司2026年前三季度业绩预告的自愿性披露公告
- 盛达资源：2026年前三季度业绩预告
- 沧州明珠：沧州明珠2026年前三季度业绩快报
- 恒力石化：恒力石化2026年前三季度业绩预增公告
- 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
Research notes
1. Macro Weekly: US Inflation Pressures Rise Again, Markets Reprice Fed Tightening Risk
A macro weekly report says US inflation pressures have risen again, prompting markets to reprice the risk of Fed tightening. The shift reflects adjusted expectations for the interest-rate path.
Source: 券商研报
2. Channel Changes and Data Value Reconstruction in Automotive Industry Research Reports: From Static Reports to a Full-Chain Decision-Making Ecosystem
The article discusses changes in distribution channels and the reconstruction of data value in automotive industry research, arguing that reports are shifting from static information products to a full-chain decision-making ecosystem. It is an industry commentary without specific company or event disclosures.
Source: 券商研报
3. Several Indicators to Watch Currently
Sohu published an article saying several indicators currently warrant attention. It does not specify the indicators, data, or context, so the report is vague and limited.
Source: 券商研报