Finance 2026-11-02

Market snapshot

Macro & policy

Finance news

1. Meta Plans to Raise Nearly $100 Billion; Oracle Places the ‘Final Bid’

Meta plans to raise nearly $100 billion, with Oracle reportedly submitting the final bid in the transaction, according to Jiemian.com. The report did not disclose the financing’s structure, intended use or further deal details.

Source: 界面新闻

2. Is Memory a Tech Safe Haven? Nomura Says Valuation Is Only 2-3x

Nomura suggests memory/storage could be a safe haven within tech, with valuations at just 2-3x. The report details are limited; the specific metric and targets were not specified.

Source: 华尔街见闻

3. AI Off-Balance-Sheet Liabilities Surge Nearly $1 Trillion in 90 Days, Quietly Topping $4.1 Trillion

AI-related off-balance-sheet liabilities reportedly jumped by nearly $1 trillion in 90 days, surpassing $4.1 trillion. The figure highlights hidden financial risks behind the AI expansion.

Source: 华尔街见闻

4. Connecticut Sen. Chris Murphy has stroke and is in the hospital, office says

Senator Chris Murphy’s office said Sunday that he suffered a stroke and was hospitalized the previous day. The office said he is awake and alert.

Source: CNBC Markets

5. Tianjin Bank Announces Leadership Change as First-Three-Quarter Net Profit Falls 16% YoY

Tianjin Bank announced a change in its top leadership along with a 16% year-on-year drop in net profit for the first three quarters. The simultaneous disclosure of the management reshuffle and earnings decline drew market attention.

Source: 财新

6. Anti-corruption watch: Fu Chengyu falls under investigation, Wang Huimin sentenced

Caixin’s anti-corruption roundup reports that Fu Chengyu, former chairman of both CNOOC and Sinopec Group, has been placed under investigation. Wang Huimin, formerly a senior securities-regulator discipline official, has been sentenced.

Source: 财新

7. Binance sees $3.64 billion in net outflows as withdrawals resume after massive hack

Binance recorded $3.64 billion in net outflows after resuming withdrawals following a $6.3 billion hack. The outflows equal about 2.1% of its total assets.

Source: CNBC Markets

8. AI Morning Brief: Qwen to Be Integrated into Apple Intelligence; OpenAI Reportedly Cuts New Funding Target by $10 Billion

Qwen is reportedly set to be integrated into Apple Intelligence, while OpenAI has reportedly lowered its new funding round target by $10 billion. The moves highlight ongoing shifts in AI ecosystem partnerships and capital raising.

Source: 界面新闻

Filings & research

Company filings (CNINFO, titles in Chinese)

• 卓越新能：卓越新能2026年半年度报告（更正版）
• 广咨国际：2026年半年度报告摘要（更正后）
• 广咨国际：2026年半年度报告（更正公告）
• 广咨国际：2026年半年度报告（更正后）
• 一汽解放：2026年半年度报告（英文版）
• 立讯精密：立讯精密工业股份有限公司2026年年度业绩预告
• 广咨国际：2025年年度报告摘要（更正后）
• 广咨国际：2025年年度报告（更正公告）

Research notes

1. Kaiyuan Securities gives Bank of Changsha a Buy rating

Kaiyuan Securities issued a research report and assigned a “Buy” rating to Bank of Changsha. The detailed rationale was not provided in the source excerpt.

Source: 券商研报

2. Pacific Securities Gives Flyco Electrical Appliances a Buy Rating

Pacific Securities has assigned a “Buy” rating to Flyco Electrical Appliances in a research report, according to Securities Star. The item is a broker rating update on an individual stock.

Source: 券商研报

3. Pacific Securities: Gives Midea Group a Buy Rating

Pacific Securities issued a research report assigning a Buy rating to Midea Group. The item is a brokerage rating update and provides no further rationale or target price.

Source: 券商研报

4. Kailuan Securities gives China CITIC Bank a buy rating

Kailuan Securities has assigned a “buy” rating to China CITIC Bank in a latest brokerage research note. The report provides no further details on the rationale or target price.

Source: 券商研报