Hot news

[The European Central Bank announced a 25 basis point rate cut]

The European Central Bank has lowered all three major interest rates by 25 basis points, reducing the main refinancing rate, marginal lending rate, and deposit facility rate to 3.4%, 3.65%, and 3.25% respectively, in line with market expectations. This is the first time the ECB has cut rates consecutively after starting this rate-cutting cycle. Sources say ECB officials believe that with inflation stabilizing at 2% faster than expected, there is a high probability of another rate cut in December.

[U.S. retail sales data for September exceeded market expectations]

U.S. retail sales in September rose by 0.4% month-on-month, higher than the expected 0.3% increase, and up from the previous 0.1% growth. Additionally, the number of initial jobless claims in the U.S. last week was 0.241 million, lower than the market's forecast of 0.26 million.

[Spot gold and COMEX gold futures both hit historical highs]

Spot gold and COMEX gold futures both reached all-time highs. Spot gold rose by 0.71% to $2692.75 per ounce, while COMEX gold futures rose by 0.61% to $2707.6 per ounce.

Israel confirms that Hamas leader Sinwar has been killed.

Israeli Prime Minister, Minister of Foreign Affairs of Israel, Israeli Defense Forces, and the National Security Agency all confirm the killing of Hamas leader Sinwar. Hamas has not yet issued an official response.

Global Markets

The three major US stock indices rose and fell last night, with the Dow hitting a new historical high again, marking the fourth time in nearly five trading days setting a closing record. At the close, the Dow rose by 0.37% to 43239.05 points; the Nasdaq rose by 0.04% to 18373.61 points; the S&P 500 index fell by 0.02% to 5841.47 points.

Large technology stocks had mixed performances, with Netflix dropping by over 2%, Google dropping by over 1%, and Tesla slightly declining; Intel, Apple, Microsoft, Amazon, and Meta all rising slightly.

Taiwan Semiconductor surged nearly 10%. Prior to this, it announced third-quarter financial results, all indicators were stronger than expected, and it also raised its performance guidance. Thanks to Taiwan Semiconductor's performance, chip stocks have generally risen.

Most of the popular china concept stocks fell, with the Nasdaq Golden Dragon Index dropping by 3.61%. Fangdd Network fell more than 24%, Ke Holdings fell over 11%, Miniso and Xpeng dropped by 7%, Nio Inc fell by over 6%, Bilibili, Weibo, Li Auto Inc, and others fell by over 5%, JD.com, Tencent Music, and others fell by over 4%.

The three major indexes in the Hong Kong stock market opened higher on Thursday and then trended lower. By the close, the Hang Seng Index fell by 1.02% to 20079.10 points; the technology index fell by 1.19% to 449.77 points; and the Hang Seng China Enterprises Index fell by 1.22% to 7179.44 points.

From the market performance perspective, real estate, home appliances, shipping, and auto stocks lead the declines. At the same time, the insurance sector, which soared in the morning, also weakened with the market.

Company News:

Fuyao Glass (03606): Revenue in the first three quarters was 28.314 billion yuan, an 18.84% year-on-year increase; net income was 5.479 billion yuan, a 32.79% year-on-year increase.

New China Life Insurance (01336): Total original insurance premium income for the first 9 months was 145.644 billion yuan, a 1.91% year-on-year increase.

Sunshine Insurance (06963): Premium income from subsidiary Sunshine P&C Insurance and Sunshine Life original insurance contracts for the first 9 months were 36.449 billion yuan and 70.918 billion yuan respectively, with year-on-year growth of 8.92% and 17.38%.

Yankuang Energy (01171): Commodity coal sales volume in the first three quarters was 101.34 million tons, a 2.18% year-on-year increase. Among them, coal sales volume in the third quarter was 33.46 million tons, a 0.68% year-on-year increase.

Yancoal Aus (03668): Equity coal sales volume in the third quarter was 10.4 million tons, up 21% quarter-on-quarter and 20% year-on-year.

Stella Holdings (01836): Comprehensive income increased by about 5.1% to 1.1597 billion U.S. dollars in the first 9 months.

CGN Mining (01164): In the third quarter, a total of 692.6tU of natural uranium was produced from the mine, with a quarterly completion rate of 97.2%.

Pacific Basin (02343): In the third quarter, the average daily rental level of the ultra-handysize bulk carrier in the spot market increased by 45% year-on-year.

Luk Fook Hold (00590): In the second quarter, the overall retail value decreased by 16% year-on-year, and retail revenue fell by 25% year-on-year.

Key data.

20:30 USA September Building Permits MoM Prel.

Financial Events

22:00 2026 FOMC Voters, Minneapolis Fed President Kashkari Speech.