Flash News

TREE NEWS reports: Among 1,523 products from private fund managers with over 5 billion yuan in assets, 241 products, or 15.82%, had a latest cumulative net asset value below 1 yuan, Wind data shows. As of Nov. 6, Borun Yintai Investment’s “Borun Yintai Multi-Strategy No. 6” had a NAV of just 0.2846, a rare “2-mao” fund among top managers.

TREE NEWS update: Kweichow Moutai director Wang Li, acting as general manager, said on November 10 at the company’s Q3 2026 results briefing that both Moutai liquor and Moutai sauce-flavor baijiu are seeing suitable product supply, stable market prices and healthy channel inventories. Wang said the company’s earlier market-oriented reform and transformation efforts have achieved certain results and met expectations.

TREE NEWS update: Shanghai’s Municipal Ocean Bureau issued the 15th Five-Year Plan implementation guidelines for marine resource utilization and ecological protection, including a proposal to conduct research on artificial offshore islands and explore the feasibility of building marine energy islands. The plan also calls for advancing protection and utilization of key areas such as Nanhui East Shoal and Hengsha Shoal, and steadily pushing forward their subsequent development.

TREE NEWS reports: France’s unemployment rate fell to 8.2% in the third quarter from 8.3% in the previous quarter, statistics agency Insee said, defying expectations of a rise to 8.4%. The decline offers some relief to an economy facing protests and budget uncertainty and edging toward recession. Youth unemployment among 15-24 year-olds dropped to 21%, while the rate for those over 50 rose slightly to 5.6%, the highest since early 2022.

TREE NEWS update: Canadian Foreign Minister Anand said she hopes for progress on the US-Canada tariff issue after the US midterm elections. The remark points to Ottawa expecting the tariff dispute to stay unresolved until the US political calendar clears. No timeline or specific measures were given.

TREE NEWS reports: Brent crude fell 2.0% intraday to $90.69 a barrel, while WTI dropped more than 2% to $84.98 a barrel. The moves mark a sharp intraday decline in both major oil benchmarks.

TREE NEWS update: Kweichow Moutai director Wang Li, acting as general manager, said on Nov. 10 at the company’s 2026 third-quarter results briefing that its international business is under significant pressure, citing weak overseas consumer demand, inadequate channel fit, cultural and taste differences, regulatory policy and logistics costs. The company said it will continue to optimize its overseas channel system and market ecosystem.

TREE NEWS update: The Civil Aviation Authority of the Philippines said on the 10th that reports of a plane crash in the country’s south were a “false alarm,” confirming the aircraft landed safely. The Digos City disaster risk reduction office said there were no casualties, though it did not immediately have information on the passengers’ nationalities. Earlier media reports said a private plane carrying six foreign nationals had crashed on Mindanao island that morning.

TREE NEWS update: Kweichow Moutai will abandon its traditional practice of pushing inventory onto distribution channels and instead align supply dynamically with market demand in 2026, director Wang Li, who is performing general manager duties, said at the company’s third-quarter 2026 earnings briefing on November 10. Wang said the company will put consumers at the center and be driven by market demand. She also said the scale of advance receipts is no longer a primary indicator of market supply and demand conditions.

TREE NEWS update: Preparations for the 10th China International Import Expo have begun as the 9th edition closed on Nov. 10, with 143 companies and institutions already signed up and more than 100,000 square meters of exhibition space booked. The figures were announced at the closing press briefing for the 9th expo.

TREE NEWS update: Former Ethereum Foundation employee Nixo sued the Ethereum Foundation and Vitalik Buterin in U.S. federal court in Colorado on Nov. 4, alleging she was fired 13 days after disclosing a cancer diagnosis in writing and 12 days after helping organize a staff petition. The petition, signed by 53 people, backed the Foundation’s mandate but refused to confirm it under threat of losing their jobs. The suit alleges discrimination, retaliation and violation of medical leave rights.

TREE NEWS update: China’s Foreign Ministry said on November 10 that it is maintaining communication with relevant parties regarding a meeting between the Chinese, US and Russian heads of state. Spokesperson Guo Jiakun declined to provide details when asked about expectations for a trilateral meeting on the sidelines of the APEC summit, saying he had no information to offer on the specific question.

TREE NEWS update: China’s Foreign Ministry spokesperson Guo Jiakun said on November 10 that the claim Alice Huang, also known as Huang Le, is a Chinese spy is groundless, responding to a Bloomberg question on whether she is a Chinese citizen and where she is. Guo said the ministry had already responded to the matter and called the allegation a smear. He did not confirm her citizenship or whereabouts.

TREE NEWS update: Shanghai Luwei Chengya Enterprise Management Partnership (Limited Partnership) has been established with capital contributions of about 310 million yuan. The entity’s business scope covers enterprise management and management consulting, and it is jointly funded by Luwei Kaiteng (Hainan) Enterprise Management Consulting Center and Luwei Kaiteng (Chengdu) Private Fund Management Co.

TREE NEWS update: Thailand’s cabinet approved an increase in import duty on goods brought in through e-commerce platforms, Finance Minister said. The increase will not exceed 30%. The decision was announced without specifying an effective date or the current rate.

TREE NEWS update: Chinese Foreign Ministry spokesperson Guo Jiakun said on November 10 that China and the United States are maintaining communication on arrangements for interaction between the two heads of state within the year. Guo made the remarks at a regular press conference in response to a question about a China-US presidential meeting. He did not provide further details on timing or format.

TREE NEWS reports: T. Rowe Price said US Treasury yields are likely to climb further before peaking, with a peak only coming when the world’s largest economy enters a recession. Global fixed income head Arif Husain wrote in a report that yields will not truly top out absent a recession, and that the Federal Reserve may keep raising rates until something breaks — essentially a policy error from over-tightening. The view comes nearly two years after Husain first floated the idea that the 10-year Treasury yield could reach 6%.

TREE NEWS reports: China’s treasury futures closed lower on the day, with the 30-year main contract falling 0.22%. The 10-year contract declined 0.08%, the 5-year contract slipped 0.05%, and the 2-year contract edged down 0.01%.

TREE NEWS reports: Infineon Technologies shares traded 5.6% above their Xetra closing price on Tradegate. The move reflects after-hours trading activity on the German off-exchange venue. No further details were provided.