Flash News

TREE NEWS reports: India’s Sensex index fell 1% to 72,515.11 on Tuesday. The decline marks a pullback for the benchmark index, which tracks 30 major companies listed on the Bombay Stock Exchange. No further details on the drivers of the move were immediately available.

TREE NEWS reports: China’s treasury futures closed mixed on the day, with the 30-year main contract down 0.11% and the 10-year main contract down 0.01%. The 5-year main contract edged up 0.01%, while the 2-year main contract was flat compared with the previous session.

TREE NEWS reports: France’s services PMI fell to 48.4 in October on a preliminary basis, missing expectations of 50.7 and down from 51.2 in September. The reading below 50 signals a contraction in the country’s services sector, reversing the prior month’s expansion.

TREE NEWS update: China’s Foreign Ministry said on October 23 that it will closely monitor US moves after the Treasury Department proposed adding biotechnology to its restricted technology list under outbound investment security rules. Spokesperson Mao Ning said the US should stop broadening the concept of national security and interfering with normal business cooperation, adding that Beijing will take necessary measures to protect its legitimate rights and interests.

TREE NEWS reports: China’s Ministry of Finance reported that revenue from the sale of state-owned land use rights totaled 1.6087 trillion yuan in the first three quarters, down 27.9% year-on-year. Nationwide government fund budget revenue fell 18.6% to 2.501 trillion yuan, with local government fund revenue down 22.3% to 2.1328 trillion yuan, while central government fund revenue rose 12.4% to 368.2 billion yuan.

TREE NEWS update: China’s Foreign Ministry said on October 23 that a healthy and stable China-Germany all-round strategic partnership serves the interests of both sides. Spokesperson Mao Ning made the remarks at a regular press briefing while announcing President Frank-Walter Steinmeier’s upcoming visit to China. She was responding to a question on the trip’s arrangements and Beijing’s assessment of current bilateral ties.

TREE NEWS reports: Volvo Cars’ European shares fell 21% after the automaker reported an operating loss that exceeded expectations. The drop followed the release of results showing the loss was wider than analysts had forecast. No further figures were disclosed.

TREE NEWS reports: China’s general public budget revenue reached about 17.23 trillion yuan in the first three quarters of the year, up 5.1% year on year, the Ministry of Finance said on Oct. 23, with the growth rate 0.4 percentage points higher than in the first half. Tax revenue rose 6.1% to about 14.07 trillion yuan, while fiscal expenditure grew 1% to about 21.02 trillion yuan.

TREE NEWS update: German President Frank-Walter Steinmeier will visit China. The visit marks a diplomatic engagement between Berlin and Beijing. No further details on the timing or agenda were provided.

TREE NEWS reports: China’s ChiNext Index closed up 4.16% on Monday after falling more than 3% in morning trade, leading a broad rebound across mainland markets. Robot-concept stocks rallied, with Unitree Robotics hitting the 20% daily limit and gaining over 54% in six sessions, while more than 20 related shares also locked limit-up. Total turnover across the Shanghai, Shenzhen and Beijing exchanges exceeded 1.97 trillion yuan, with over 4,500 stocks closing higher.

TREE NEWS reports: European stocks opened mixed on the session, with the Euro Stoxx 50 up 0.1% and the UK’s FTSE 100 up 0.1%. Germany’s DAX slipped 0.2%, while France’s CAC 40 gained 0.2%.

TREE NEWS reports: The Shanghai Composite closed at 3,690.48, up 0.89%, while the Shenzhen Component rose 2.79% to 11,673.83. The ChiNext Index gained 4.16% to 2,684.10, and the STAR 50 closed 3.04% higher at 1,345.51. The CSI 300 added 1.71% to 4,105.33, with the CSI 500 up 2.39% at 6,814.44 and the CSI 1000 up 2.38% at 6,734.55.

TREE NEWS update: Kazakhstan’s central bank lowered its key interest rate to 15.75% from 16.25%, the National Bank of Kazakhstan announced. The 50-basis-point cut reduces the benchmark rate that sets borrowing costs across the Central Asian economy. No further details of the decision were provided.

TREE NEWS reports: Fuel oil and liquefied petroleum gas (LPG) futures led gains in Chinese commodities trading, with their main contracts closing up more than 6%, while LU fuel oil rose over 5%. Propylene gained over 4%, and polypropylene, pure benzene, BR rubber, crude oil and eggs each climbed more than 3%. On the downside, Shanghai silver dropped over 5%, caustic soda fell more than 3%, and Shanghai gold and platinum each lost over 2%.

TREE NEWS update: Ningbo issued six tranches of local government bonds totaling 102.84 billion yuan, including a 15-year toll-road special bond of 3.53 billion yuan at a 1.94% coupon with a 1.37x marginal bid-to-cover ratio. A 5-year land-reserve special bond raised 9.35 billion yuan at 1.36%, and a 7-year land-reserve bond raised 14.15 billion yuan at 1.46%. A 30-year special bond of 18.47 billion yuan priced at 2.18%, while a 15-year general special bond of 51.95 billion yuan drew a 94.00x marginal ratio.

TREE NEWS reports: Goldman Sachs prime brokerage reported that global hedge funds suffered one of their broadest declines since the pandemic, with all three major equity strategies falling more than 1% on the same day for the first time since then. Fundamental long/short managers dropped 1.4% on Thursday, TMT-focused funds fell 2.7%, systematic long/short managers lost 1.3%, and multi-strategy platforms slid 1.9%.

TREE NEWS reports: Japan’s semiconductor equipment orders rose 48.2% year on year in September. The industry group’s figure covers orders for chipmaking equipment booked by Japanese suppliers during the month.

TREE NEWS update: China’s Ministry of Commerce on Thursday urged the US to immediately stop discriminatory and restrictive measures against Chinese research institutions, after the US Department of Defense published the results of its so-called research security review. A ministry spokesperson said Washington is politicizing and weaponizing scientific exchanges and pressuring US institutions to pick sides, warning that decoupling will harm both sides. Beijing said it will take necessary measures to protect the legitimate rights of Chinese research bodies.

TREE NEWS update: France is deploying troops to support police and increasing officer numbers by 20% ahead of Saturday’s protests, the interior ministry said, as authorities seek to prevent a repeat of last weekend’s unrest. Those protests over the cost of living descended into chaos, with 3,000 shops looted and 2,700 people arrested. The government is also seeking to reassure markets unsettled by the violence.

TREE NEWS reports: Japan’s Nikkei 225 fell 0.3% to close at 62,693.16, while the broader Topix index dropped 0.8% to 3,965.81. South Korea’s Kospi rose 0.3% to 5,550.30, bucking the regional decline.