Flash News

TREE NEWS update: Democratic lawmakers said on the 8th that they will investigate billionaire Elon Musk, White House Chief of Staff Stephen Miller and some companies once Democrats take control of Congress in January. Representative Robert Garcia and Senator Elizabeth Warren made the remarks in a television interview. Garcia, expected to chair the House Oversight and Government Reform Committee, said the probes will focus on Musk’s role in federal employee dismissals at the Department of Government Efficiency and Miller’s role in Trump administration immigration enforcement policy.

TREE NEWS reports: Germany’s DAX index broke above 26,000 points on the day, gaining 0.8% intraday. The benchmark crossed the threshold as it extended its advance, with the move marking the index’s rise past the 26,000 level.

TREE NEWS update: Raycash, a stablecoin payments app spun out of confidential-computing protocol Zama, has launched on the Ethereum mainnet in private beta. Users can swap USDC 1:1 for a confidential token that hides balances and transfer amounts in peer-to-peer on-chain payments, and can earn yield on idle funds via Morpho inside the app. The project said its pre-launch waitlist topped 75,000, with access to open in phases.

TREE NEWS update: ByteDance released its Doubao image-creation model Seedream 5.5 on Nov. 9, saying generation speed is significantly faster than the previous Seedream 5.0 Pro. The model is now available on Doubao, Doubao Work and Jimeng, with API access due to launch on the Volcano Ark platform.

TREE NEWS update: Nvidia’s board is investigating CEO Jensen Huang following a report that he was the target of a Chinese spy effort, and Huang told staff he had been “unfaithful” to his wife. Nvidia shares fell nearly 5% in premarket trading on Monday. The board’s investigation and Huang’s remarks to staff were disclosed alongside the report.

TREE NEWS reports: Morgan Stanley’s Michael Wilson said the S&P 500’s correction is likely nearing its end and the US stock market may be setting up for a year-end rally. Wilson said the benchmark index is approaching his downside target range of 7,100-7,300 points and is expected to rebound from that zone. He advised adding exposure to quality cyclical stocks over the coming weeks rather than waiting for a perfect bottom, citing significantly discounted valuations and strong EPS performance.

TREE NEWS update: BeiGene reported net profit of RMB 6.06 billion for the first three quarters of 2026, up 431.8% year-on-year, on revenue of RMB 34.99 billion, which rose 26.8%. In the third quarter alone, net profit reached RMB 2.79 billion, up 304.3% year-on-year, while revenue was RMB 12.77 billion, up 26.8%. The company attributed the results to product revenue growth and improved operating efficiency from expense management.

TREE NEWS update: The Shanghai Futures Exchange will cap daily opening positions at 800 lots for non-futures-company members, overseas special non-brokerage participants and clients in fuel oil and petroleum bitumen futures contracts, effective from the trading session starting Nov. 10, 2026 (the night session). The limit applies to FU2612 and FU2701 fuel oil contracts and BU2611, BU2612 and BU2701 bitumen contracts.

TREE NEWS update: Unigroup Guoxin Microelectronics bought back 955,800 of its own shares on Nov. 9, 2026, in its first repurchase under the program, representing about 0.11% of total share capital. The shares were bought at 51.00 to 51.21 yuan apiece for a total of 48.88 million yuan, excluding transaction fees.

TREE NEWS update: The Labor Department has sent its final fiduciary safe harbor rule on cryptocurrency and other alternative investments in 401(k) plans to the White House for review, the Office of Management and Budget logged on Nov. 5. The regulatory review must be completed before the department can publish the rule, which would set conditions under which plan fiduciaries may offer crypto and other alternatives to retirement savers.

TREE NEWS reports: The eurozone Sentix investor confidence index for November came in at 2.4, above the expected 2.1 but below the prior reading of 2.7. The reading signals sentiment remains positive but has eased from the previous month.

TREE NEWS reports: Hedge funds sold global technology stocks last week at one of the fastest rates on record, as fears that political opposition could stall data-center construction triggered a sharp reassessment of the AI trade. Tech was the most net-sold sector globally and in the US, with the percentage amount roughly matching Goldman Sachs data going back to 2016. The bank’s prime brokerage data through Nov. 6 also showed the largest single-stock net-selling wave in four months.

TREE NEWS update: Ethereum co-founder Vitalik Buterin said in a four-part X thread that maximizing ETH’s fee burn would push the network toward corporate-style spending and governance, costing it its decentralization. He argued that a store-of-value focus better fits Ethereum’s decentralization goals than chasing burned fees.

TREE NEWS reports: The average residential rent across 50 Chinese cities fell 0.28% month-on-month to 33.87 yuan per square meter per month in October, with the decline widening 0.11 percentage points from September. Year-on-year, rents were down 2.02%, though the drop narrowed 0.21 percentage points. Average rents declined month-on-month across first-tier, second-tier and third-tier cities alike, while a small number of core cities, including Shanghai and Shenzhen, kept prices resilient with residential rents rising for an eighth consecutive month.

TREE NEWS update: China Securities (CSC) completed repurchase financing under the third batch of the Securities, Funds and Insurance Companies Swap Facility (SFISF) and executed its first stock purchases on the same day. The brokerage said it will make full use of the swap facility to further increase its equity holdings and support the healthy and stable development of the capital market.

TREE NEWS update: The Shanghai Stock Exchange’s listing review committee will meet on Nov 16, 2026, to review the initial public offering application of Jiangsu Shenzhou Semiconductor Technology Co., Ltd. The hearing is scheduled as the 58th listing review committee meeting of 2026. The company’s IPO remains subject to the committee’s approval before proceeding.

TREE NEWS update: Qingyi Optoelectronics’ subsidiary Foshan Qingyi Microelectronics plans to invest up to 1.5 billion yuan to build a third-phase high-end semiconductor photomask production base in Nanhai District, Foshan. The facility will produce photomasks for 28nm-14nm process nodes, with construction scheduled to start in December 2026 and a 36-month build period. Funding will come from the subsidiary’s own or self-raised capital, not from proceeds of a share offering.

TREE NEWS update: Pop Mart repurchased 340,000 of its own shares on November 9 for a total of HK$48.75 million, the Chinese toy company disclosed. The buyback works out to an average of about HK$143.38 per share. Pop Mart, known for its collectible designer toys and blind boxes, is listed in Hong Kong.

TREE NEWS update: Binance said a claim by hacking group ShinyHunters that it stole 335 million user records, including KYC documents, passwords, trading history and wallet information, and demanded $900,000, is more likely a scam after reviewing samples, with no breach found in its systems, KYC data, account credentials or private keys. The exchange said it does not store passwords in plaintext, does not hold users’ external wallet private keys, and that the data concerns jurisdictions Binance has exited.