Flash News

TREE NEWS reports: Hong Kong’s Hang Seng Index fell more than 2% on the day, with AI company MINIMAX sliding as much as 6.2% at one point and trading below its IPO issue price. The move marked a sharp pullback for the benchmark and put the newly listed shares under pressure.

TREE NEWS reports: The ChiNext Index fell 2% during intraday trading. Hong Kong’s Hang Seng Tech Index dropped 3%, with Lenovo Group and MINIMAX each down more than 5% and Alibaba down more than 4%. The moves mark a broad decline across Chinese technology stocks in both mainland and Hong Kong markets.

TREE NEWS reports: South Korea’s KOSPI extended its intraday decline to 2% on the day, the benchmark stock index falling as selling pressure deepened. The move marks a sharp pullback in Seoul equities, with the index down 2% from the previous close.

TREE NEWS reports: The Bank of Korea expects exports and investment to sustain high growth, with this year’s and next year’s economic growth rates significantly above its August forecasts of 3.3% and 2.9%. Uncertainties remain around the chip supply chain and spillover to domestic demand, along with Middle East risks. CPI and core inflation this year are seen broadly in line with August projections of 2.7% and 2.5%, while next year’s readings are expected to exceed prior forecasts of 2.3% and 2.5%.

TREE NEWS reports: The ChiNext Index dropped more than 1% while the Shanghai Composite fell 0.56% and the Shenzhen Component lost 0.72%, with computing hardware, cultural media, baijiu and coal among the worst-performing sectors. Nearly 3,000 stocks declined across the Shanghai, Shenzhen and Beijing exchanges.

TREE NEWS reports: South Korea’s central bank said stock market volatility has increased amid concerns over a slowdown in artificial intelligence investment, with equities falling sharply on worries about slowing profitability in the semiconductor sector.

TREE NEWS update: The Bank of Korea said its rate decision was unanimous, and will decide the timing and pace of further hikes while assessing inflation, domestic economic and financial stability trends. It said it needs to evaluate domestic and external risk factors and the impact of the previous two rate increases, and to keep watching financial imbalance risks tied to the housing market and household debt. Inflation is expected to stay above target for a considerable period.

TREE NEWS reports: China’s treasury futures opened higher on the latest session, with the 30-year main contract up 0.07%. The 10-year, 5-year and 2-year main contracts each rose 0.01% at the open.

TREE NEWS reports: The Shanghai Composite opened at 3714.48 on the latest trading day, up 0.04%. The Shenzhen Component opened at 11690.34, down 0.12%, while the ChiNext Index opened at 2687.94, down 0.25%. The CSI 300 opened at 4110.65, down 0.03%, and the STAR 50 opened at 1346.96, up 0.27%.

TREE NEWS update: The People’s Bank of China injected CNY173 billion via overnight reverse repos on the day, while conducting no seven-day reverse repo operations. CNY125 billion of reverse repos matured the same day, leaving a net liquidity injection of CNY48 billion.

TREE NEWS reports: Hong Kong’s Hang Seng Index opened 0.58% lower at 23,513.79 points, while the Hang Seng Tech Index fell 1.15%. Lenovo Group dropped more than 4% and CATL declined more than 3% in early trading.

TREE NEWS reports: The People’s Bank of China set the yuan’s daily midpoint at 6.7195 per dollar, 3 pips weaker than the previous fix of 6.7192. The onshore yuan closed at 6.6777 in the prior official session, while the overnight session ended at 6.6760.

TREE NEWS reports: Taiwan’s Taiex weighted stock index opened 0.1% higher at 46,942.75 points. The benchmark’s modest opening gain extends the index’s recent level above the 46,900 mark.

TREE NEWS update: China’s State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management activated a Level IV flood and typhoon emergency response for Shanghai, Zhejiang and Fujian, and dispatched a working group to Zhejiang to assist and guide flood and typhoon prevention work. The response was announced as the three coastal regions brace for the storm.

TREE NEWS reports: Shanghai nickel and styrene main contracts rose more than 2% at the open of Chinese commodity futures trading, with stainless steel, Shanghai aluminum, aluminum alloy and ethylene glycol each gaining over 1%. Caustic soda and liquefied petroleum gas fell more than 2%. The moves reflect mixed sentiment across industrial metals and energy-linked contracts at the session’s start.

TREE NEWS reports: FTSE China A50 index futures opened 0.21% higher, following a 0.29% gain in the previous session’s night trading. The early move extends the prior session’s advance.

TREE NEWS reports: The Chinese yuan accounted for 3.33% of global payments on the Swift network in September, up from 3.26% in the previous month. The reading marks a modest increase in the currency’s share of international payment traffic.

TREE NEWS update: The Bank of Korea kept its benchmark interest rate unchanged at 3% on Friday, matching market expectations. The decision leaves the policy rate at its current level, with no further details provided in the announcement.

TREE NEWS reports: The combined margin financing balance on the Shanghai and Shenzhen stock exchanges stood at 2.44 trillion yuan (244.23 billion) as of October 21, down 961 million yuan from the previous trading day. The Shanghai Stock Exchange’s margin balance was 1.26 trillion yuan, a decrease of 657 million yuan, while the Shenzhen Stock Exchange’s balance was 1.19 trillion yuan, down 304 million yuan.

TREE NEWS update: Zhejiang Province upgraded its maritime typhoon emergency response to Level IV at 8 a.m. on October 22 as Super Typhoon Champi, this year’s 30th typhoon, churned about 750 kilometers southeast of Taipei with maximum winds of 16 on the Beaufort scale. Winds in the central and southern East China Sea are forecast to strengthen to force 12-14 on October 22-23, with heavy to torrential rain expected across eastern Zhejiang from October 23 to 25.