Flash News

TREE NEWS reports: Shares of Freddie Mac rose 7.8% while Fannie Mae gained 7.5%. The two US mortgage-finance giants moved higher together in the same session. No further details on the drivers of the advance were provided.

TREE NEWS reports: The MSCI Nordic Countries Index rose 1% to close at 396.76, its highest close since September 17. Among the ten sectors, Nordic industrials posted the biggest gain. Defense stock Kongsberg Gruppen ASA climbed 4.3%, leading all Nordic constituents.

TREE NEWS reports: Germany’s DAX 30 index closed provisionally up 1.09% at 25,656.97 points, bringing its gain for the week to roughly 2.3%. France’s benchmark index ended up 0.37%, Italy’s rose 0.99% with its bank index up 1.16%, and the UK index closed 0.43% higher.

TREE NEWS reports: Europe’s STOXX 600 closed provisionally up 0.75% at 644.98 points, bringing its weekly gain to 2.1%. The eurozone’s STOXX 50 rose 0.70% to 6,211.19, up 0.6% for the week, while the FTSE Eurofirst 300 added 0.76% to 2,575.19.

TREE NEWS reports: Tesla shares fell 1.3% to a session low of $357.61 as investor excitement over the Roadster cooled. The move marks a pullback in the stock after recent enthusiasm tied to the vehicle.

TREE NEWS update: Tesla unveiled its second-generation Roadster on October 16, with a prototype equipped with a SpaceX cold-gas propulsion system performing aerial rolls and short airborne leaps during a live demonstration. Nio founder Li Bin shared the video and commented, “Amazing! We really don’t have this. Thumbs up for Tesla.” Li had previously said publicly that he has everything Tesla has, but Tesla doesn’t have what he has.

TREE NEWS reports: The three major US stock indices traded mixed on October 16, with the Dow Jones up 0.38% intraday while the Nasdaq fell 1.04% and the S&P 500 slipped 0.13%. The divergence left the tech-heavy Nasdaq as the session’s weakest of the three benchmarks.

TREE NEWS update: JD.com said its legal department will support an employee in filing a counterclaim and will report the matter to relevant authorities, after a rival platform launched multiple lawsuits against the employee. The employee had posted personal social media comments about abnormal public opinion surrounding a rival platform during a major shopping promotion.com’s official Weibo account.

TREE NEWS update: China Unicom said it will give customers who bought a genuine iPhone through its channels in 2009 top-priority purchase rights for the iPhone Duo. Eligible users can verify their identity on China Unicom’s website; those shown as “Honored Friend” can buy the device first at nearby Unicom Apple authorized stores. The carrier held its first iPhone China sales event in Beijing on October 30, 2009, issuing numbered certificates to buyers.

TREE NEWS update: Apple’s first foldable phone, the iPhone Duo, went on sale at 20:00 on Oct 16 and its first batch of stock sold out quickly, with official flagship stores on several e-commerce platforms briefly stalling. As of 21:30, orders could still be placed only on Apple’s official website and its official Tmall flagship store, with the earliest batch shipping three days after Tmall’s Double 11 sales open on Oct 20, i.e. Oct 23.

TREE NEWS reports: SK Hynix’s American depositary receipts fell as much as 5.8% intraday, extending losses to a tenth straight session. The decline puts the ADRs on track for their longest losing streak since the company’s US IPO in July.

TREE NEWS update: Fangda Special Steel announced it will exit its position as a limited partner in Nanchang Huxu and acquire 100% of Jiangxi Fangda Steel Group Enterprise Investment Co. (Fangda Qitou) via in-kind distribution and cash purchase. The 99.26% stake is transferred through in-kind distribution at no additional consideration, valued at 3.5 billion yuan based on paid-in capital, while the remaining 0.74% is bought for 26 million yuan. The deal secures vanadium-titanium supply and vanadium extraction technology.

TREE NEWS reports: Alcoa shares extended gains to 8.1% intraday, marking the aluminum producer’s largest single-day advance since June. The move was the only detail disclosed in the market update, which gave no stated catalyst for the rally. Alcoa is a US-listed aluminum producer whose shares trade on the New York Stock Exchange.

TREE NEWS reports: US chipmaker stocks fell for an eighth straight session, the longest losing streak since 2008, as investors questioned the outlook for the AI trade. CoreWeave dropped 7.5%, extending a selloff driven by concern that the massive buildout of AI infrastructure has outpaced companies’ ability to earn a return on that investment. The S&P 500 swung despite most of its constituents advancing.

TREE NEWS reports: Moderna (MRNA) dropped 12% and is now the worst-performing stock in the S&P 500 index. The decline puts the vaccine maker at the bottom of the benchmark’s constituent list.

TREE NEWS update: Strategy conditionally declared daily dividends on STRC, its preferred stock, as the instrument continued to trade below its $100 par value. The declaration is contingent, tied to the shares remaining under par. No further terms or figures were disclosed.

TREE NEWS update: Tesla has detailed three versions of its new Roadster, with the top-end Rocket edition capable of flight and sold by invitation only. China’s official site is taking pre-orders solely for the Performance version, with a deposit of 332,000 yuan. The limited-run Thrust version is track-only, carries rear cold-gas thrusters and is claimed to hit 0-100 km/h in under one second, with a $250,000 deposit.

TREE NEWS update: Changan Automobile said Zhao Fei, formerly president, has been promoted to chairman of the listed company, while Zhu Huarong remains party secretary and chairman of China Changan Automobile Group Co., Ltd., overseeing overall planning and long-term development of the group’s auto business. Zhu no longer holds any position at the listed company or its controlled subsidiaries. Ye Pei, previously executive vice president, was promoted to president.

TREE NEWS update: Yijing X9’s pure-electric version has entered China’s Ministry of Industry and Information Technology (MIIT) new-vehicle filing catalog, covering rear-wheel-drive and all-wheel-drive powertrain variants. With the EV filing complete, the Yijing X9 now forms a dual-powertrain lineup of extended-range plus pure-electric options. The pure-electric version is scheduled to make its official debut in November.

TREE NEWS update: Lianxun Instruments is planning to issue H-shares and list on the Hong Kong Stock Exchange, the company said. No offering size, pricing or timetable was disclosed. The move would add a Hong Kong listing for the Chinese test-and-measurement equipment maker.