Market snapshot
| Index | Level | Change |
|---|---|---|
| SSE Composite | 3676.77 | ▼0.13% |
| SZSE Component | 11379.00 | ▼0.82% |
| ChiNext | 2596.22 | ▼1.46% |
| Hang Seng | 23088.14 | ▼0.03% |
| Hang Seng Tech | 3834.60 | ▼0.50% |
| S&P 500 | 7743.98 | ▲0.28% |
| Nasdaq | 26549.85 | ▲0.27% |
| Dow Jones | 52475.10 | ▲0.19% |
| Gold | 4065.80 | ▼0.04% |
| Crude oil | 101.88 | ▼0.88% |
| VIX | 16.91 | ▼3.48% |
Shanghai turnover: CNY 7.9bn
Macro & policy
| Indicator | Forecast | Previous | Actual |
|---|---|---|---|
| USD Federal Funds Rate | 4.00% | 4.00% | — |
| USD FOMC Statement | — | — | — |
| USD FOMC Press Conference | — | — | — |
| USD Advance GDP q/q | 3.2% | 1.5% | — |
| USD Core PCE Price Index m/m | 0.3% | 0.2% | — |
| USD Advance GDP Price Index q/q | 3.2% | 6.2% | — |
| USD Unemployment Claims | 198K | 194K | — |
| EUR Main Refinancing Rate | 2.65% | 2.65% | — |
| EUR Monetary Policy Statement | — | — | — |
| EUR ECB Press Conference | — | — | — |
Finance news
1. Over 100 Chinese Students in Malaysia Blocked from Graduating Over Alleged English Score Fraud
More than 100 Chinese students in Malaysia have been blocked from graduating amid suspected English test score fraud. The case involves multiple institutions, and outcomes are still pending.
Source: 财新
2. Second-Hand Smartphone Market Booms as ‘99 New’ Phones Become Hot Sellers
The second-hand smartphone market is booming, with near-mint “99 new” devices in high demand. The trend reflects growing consumer interest in refurbished electronics as upgrade costs rise.
Source: 界面新闻
3. Google US Shares Fall More Than 9% After Hours
Google shares fell more than 9% in U.S. after-hours trading, according to First Financial. The source did not provide further details on the cause or market context.
Source: 第一财经
4. Warsh: To Cut Number of Policy Meetings Starting Next Year, Won’t Prejudge December Decision; AI Investment Also Affected by Rates
Warsh said the number of policy meetings will be reduced starting next year and he will not prejudge the December rate decision. He added that AI investment is also affected by interest rates.
Source: 华尔街见闻
5. CoreWeave and other neocloud stocks drop after Microsoft capex comes in below expectations
Microsoft’s capital expenditure came in below expectations, suggesting infrastructure partners may take longer to deliver capacity. Shares of CoreWeave, Nebius and IREN fell as a result.
Source: CNBC Markets
6. Wall Street Parses Warsh Speech: Hints at More Rate Hikes, but Not Large Ones
Wall Street is parsing Warsh’s remarks, seeing a signal that further rate hikes remain possible but are likely to be modest. Markets are weighing the policy implications.
Source: 华尔街见闻
7. 2026 Li Auto i6 Launched: 249,800 Yuan, Featuring Mach Chip and Lianshan Battery
Li Auto has launched the 2026 Li i6 at 249,800 yuan, equipped with the Mach chip and Lianshan battery. The model updates its smart cockpit and battery system as part of a routine product refresh.
Source: 界面新闻
8. Samsung Electronics third-quarter profit in line with estimates amid rising demand for AI memory chips
Samsung Electronics reported third-quarter earnings on Thursday. Profit came in line with analyst estimates, helped by rising demand for AI memory chips.
Source: CNBC Markets
Filings & research
Company filings (CNINFO, titles in Chinese)
- 东晶电子：2026年半年度报告（更正后）
- 东晶电子：2026年半年度报告摘要（更正后）
- 恒太照明：2025年年度报告摘要（更正后）
- 恒太照明：2025年年度报告（更正后）
- 恒太照明：2025年年度报告（更正公告）
- *ST岭南：2021年年度报告（更正后）
- *ST岭南：2024年年度报告（更正后）
- *ST岭南：2025年年度报告（更正后）
Research notes
1. Research Morning Views – Broker Morning Meetings & Research Reports (Stockstar)
This item is Stockstar’s “Morning Research Views” column page, which aggregates brokerage morning-meeting and research-report commentary. No substantive analysis, data or specific views were included in the source text.
Source: 券商研报