Flash News

TREE NEWS reports: Hong Kong-listed large-model stocks declined, with Zhipu and MiniMax each falling more than 10%. The two AI model developers led losses among the city’s listed artificial-intelligence names.

TREE NEWS update: Hangzhou Xing’ao Media Co., the company linked to Chinese video brand Shiying Jufeng, has registered Pan Shuimiao, director and president of YTO Express, as its chairman. Pan is the company’s second-largest shareholder. Team member Li Siwei was also added as a director.

TREE NEWS reports: The Shanghai Composite Index fell more than 2% in afternoon trading, while the Shenzhen Component dropped over 2.5% and the ChiNext Index lost more than 3%. Coal and oil and gas exploration and services led the declines, with more than 5,000 stocks across the market closing lower.

TREE NEWS reports: Combined turnover on the Shanghai and Shenzhen stock exchanges surpassed 1 trillion yuan, running more than 130 billion yuan heavier than at the same point a day earlier. The accelerated volume pace points to heavier trading activity across the two mainland bourses.

TREE NEWS reports: Ericsson reported third-quarter net sales of SEK 59.48 billion, ahead of the SEK 55.39 billion market estimate. Adjusted EBIT came in at SEK 9.76 billion versus an expected SEK 7.53 billion, while the adjusted gross margin was 47.7%, slightly above the 47.4% forecast.

TREE NEWS reports: Chinese memory chip maker CXMT fell more than 5% intraday on October 15, with its total market value slipping below the 3 trillion yuan mark by the midday close and losing its title as the A-share market’s most valuable listed company. Industrial and Commercial Bank of China (ICBC) has reclaimed the top spot, roughly two and a half months after CXMT’s listing-day peak.

TREE NEWS reports: The US releases September PPI, retail sales, weekly initial jobless claims and the October New York Fed manufacturing index at 20:30 Beijing time on Thursday. TSMC reports earnings the same day, while Chicago Fed President Goolsbee speaks at 22:00 and Cleveland Fed President Hammack at 04:30 the next day.

TREE NEWS reports: Asian equities sold off sharply as renewed inflation concerns revived rate-hike expectations, with South Korea’s Kospi falling 8% and triggering a circuit breaker while Japan’s Nikkei 225 dropped more than 5%. Hong Kong’s Hang Seng fell 1.5% in the morning session and the Hang Seng Tech Index lost nearly 3%, with Lenovo Group down almost 14%. On the mainland, both ChiNext and STAR 50 indices fell more than 3%, with over 5,000 A-share stocks declining.

TREE NEWS reports: UBS Securities China equity strategist Meng Lei said in a report that downside risk for the A-share market is currently limited, citing ETF inflows and an ongoing earnings upcycle. The recent pullback stems mainly from a concentrated unwinding of previously high trading crowding in the tech sector, while public mutual funds also face redemption pressure as investors exit at breakeven.

TREE NEWS update: CK Hutchison Holdings has denied rumours that its founder Li Ka-shing, 98, has died. An internal source at the company said on October 15 that the claim was “absolutely untrue.” The rumour had circulated online before the company’s response.

TREE NEWS reports: Shanghai-listed ETFs logged net inflows for three straight sessions from Oct. 12 to Oct. 14, totaling more than 75 billion yuan. Broad-based ETFs accounted for about 30 billion yuan of the total, while sector and thematic ETFs took in over 10 billion yuan.

TREE NEWS update: South Korea’s KOSPI index resumed trading after a circuit breaker halted the market for 20 minutes. The benchmark Seoul index had been suspended on the trigger before trading restarted. No further details on the level of the index or the size of the move were given. The halt marked a temporary interruption to trading on Korea’s main stock exchange.

TREE NEWS reports: The Hang Seng Tech Index extended its intraday decline to 3%, a move that underscores the pressure on Hong Kong-listed technology shares. The index’s slide came during the trading session, with the drop widening as the day progressed. No specific catalyst for the decline was stated in the available data.

TREE NEWS reports: TeraWulf, Core Scientific, Cipher Mining and IREN each fell more than 12% as bitcoin miners led Wall Street’s steepest selloff since July. Hotter-than-expected inflation hit AI infrastructure companies, dragging down the crypto-linked equities alongside the broader market.

TREE NEWS reports: Chinese PCB concept stocks opened lower but rebounded, with Jinlu Electronics and Shennan Circuits both hitting the daily limit up. Jiayuan Technology, Tianjin Printronics, Yidun Electronics and Aohong Electronics each rose more than 5% in the session.

TREE NEWS reports: The CSI Convertible Bond Index opened 0.78% lower, with Outong, Yunji, Jizhi, Qiangda and Dinglong convertible bonds leading the declines at 6.65%, 6.01%, 5.74%, 5.30% and 5.05% respectively. Ruihu Convertible Bond 02 led gainers, up 30.00%, followed by Tianyuan at 6.08%, Aima at 0.61%, Yuxing at 0.42% and Saisi at 0.41%.

TREE NEWS reports: China’s major A-share indices opened sharply lower on the latest session, with the Shanghai Composite at 3710.70, down 1.50%. The Shenzhen Component fell 2.40% to 11819.99 and the ChiNext Index dropped 3.13% to 2776.92. The CSI 300 opened at 4145.95, down 1.70%, while the STAR 50 slid 3.91% to 1326.24.

TREE NEWS reports: Hong Kong’s Hang Seng Index opened 0.80% lower at 24,119.14 points, while the Hang Seng Tech Index fell 2.21%. Among individual names, Iluvatar CoreX dropped more than 9%, Lenovo Group declined over 7% and Zhipu lost more than 6%.

TREE NEWS update: Transsion Holdings opened at HK$34.96 on its Hong Kong trading debut, below its IPO price of HK$35.50. The first trade put the smartphone maker’s shares roughly 1.5% under the offer price.

TREE NEWS reports: SK Hynix shares extended losses to 11% on the day. The South Korean memory-chip maker’s decline marks a sharp single-session drop in its stock. No further details on the cause of the move were given.