TREE NEWS reports: Thailand’s stock market has fallen 10% from its July high, putting the benchmark index on course to enter technical correction territory. The decline marks a sharp pullback for Thai equities after the July peak.
TREE NEWS update: China and the Netherlands held the ninth meeting of their export control dialogue mechanism in Shenzhen, China’s Ministry of Commerce said. The meeting marks the latest round of bilateral talks on export controls between the two trading partners. No further details on the outcome of the discussions were disclosed.
TREE NEWS update: China’s National Energy Administration plans to expand virtual power plant capacity to more than 50 gigawatts by 2030, development planning official Ge Ju said. The plan taps flexible demand from electric vehicles and air conditioners, promotes smart charging and wider vehicle-to-grid use, and aims to give users a bigger role in balancing the power system. Pumped-storage capacity is targeted at about 160 GW by 2030, with new-type storage at 300 GW.
TREE NEWS update: China has purchased 100 million tonnes of autumn grain so far this season, the National Development and Reform Commission said at a press conference on Nov. 6, with progress roughly in line with a year earlier as volumes build in the northeast. The NDRC expects annual grain purchases to stay above 400 million tonnes through the 15th Five-Year Plan period as the country’s grain production capacity rises.
TREE NEWS reports: China’s STAR 50 index reversed early losses to turn positive after falling more than 5% at the open. The index, which tracks 50 companies on Shanghai’s STAR Market, erased its opening plunge during the session. No further details on the drivers of the move were provided.
TREE NEWS update: South Korea’s government said it will relax margin regulations for three months. The benchmark KOSPI index narrowed its decline to 3.5% following the announcement, after earlier falling more than 8%. The statement did not specify which margin rules would be eased.
TREE NEWS update: China’s National Energy Administration will expand its oil and gas cooperation network during the 15th Five-Year Plan period, said Ge Ju, deputy director of the NEA’s development planning department. The country already trades oil and gas with nearly 50 countries, with import sources covering all major global oil and gas exporters. The NEA will strengthen cooperation with key overseas producing regions, diversify sources and transport routes, and secure land and sea import corridors.
TREE NEWS update: Zcash activated its NU7 upgrade at block 3,543,405 at 9:34 p.m. ET Thursday, switching on Shielded Labs’ Network Sustainability Mechanism. The mechanism takes 60% of transaction fees out of circulation.
TREE NEWS update: South Korea’s finance minister said the stock market is overreacting to external factors and warned against excessive panic, citing strong economic fundamentals. The minister said proactive measures will be taken to prevent market fear from intensifying further, and that the stock market will be monitored closely at the highest level of alert.
TREE NEWS reports: Japan’s Nikkei 225 closed the morning session down 5.3% and the broader Topix fell 5.4%. The steep declines mark a sharp selloff across Japanese equities by the mid-day break, with both benchmarks posting losses of more than 5%.
TREE NEWS update: Construction of the nuclear island for the “Chilong-1” high-temperature gas-cooled reactor began on the 6th at the Xuwu nuclear heating and power plant in Jiangsu, marking China’s fourth-generation nuclear technology entering large-scale commercial deployment. The reactor, independently developed with full intellectual property rights, uses helium coolant to carry heat from the core, enabling both power generation and high-temperature industrial steam supply.
TREE NEWS reports: The MMLC battery-grade lithium carbonate early-session midpoint price stood at 93,100 yuan per tonne, up 500 yuan from the previous day’s 16:30 level. The move marks a modest gain in the battery material’s benchmark price.
TREE NEWS reports: AI comic drama concept stocks rebounded in volatile trading, with Shanghai Film touching the daily limit-up. Zhewen Pictures and City Media had earlier sealed their limit-up boards, while Omnijoi, China Film, Ruyi Film and Bona Film Group followed higher. The move marks a recovery for the sector after prior swings.
TREE NEWS reports: Indonesia’s benchmark stock index fell 2% during intraday trading. The decline marks a sharp move lower for the country’s main equity gauge within the session. No further details on the drivers of the drop were provided.
TREE NEWS reports: The ChiNext Index narrowed its intraday decline to less than 3% on the day, paring an earlier drop. The index, which tracks growth-oriented companies on the Shenzhen Stock Exchange, remained in negative territory. No further details on the move were provided.
TREE NEWS update: Saudi Aramco cut its December official selling price for Arab Light crude to Asia by $2 a barrel from November, widening the discount to the Oman/Dubai average to $6.50 a barrel — the lowest since May 2020. The producer also lowered all grades for Northwest Europe and the Mediterranean by $1 a barrel, while US prices were left unchanged.
TREE NEWS update: The Yellow River has flowed without interruption for 27 consecutive years, the State Council Information Office said at a press conference on the 80th anniversary of the river’s governance on the 6th. Water quality along the main stem has remained at Class II standard for the past four years, and more than 90% of key rivers and lakes in the basin met ecological flow targets.
TREE NEWS update: Chinese optical-module makers Zhongji Innolight and Eoptolink both said their operations remain normal and that overseas customer orders and delivery schedules are unchanged, after all three major US stock indexes closed lower on November 5 and the AI hardware sector extended its decline. Zhongji Innolight said its fundamentals had not changed; Eoptolink said production and supply were unaffected.
TREE NEWS reports: Nasdaq 100 futures rose as much as 1% intraday, reversing an earlier decline of more than 1%. South Korea’s KOSPI narrowed its loss to 5.4% after having fallen more than 8% earlier in the session. The moves mark a partial rebound from steep intraday lows in both US equity futures and Korean stocks.
TREE NEWS update: Yu Yanhong, former party secretary and director of China’s National Administration of Traditional Chinese Medicine and former member of the National Health Commission’s party group, is under disciplinary review and supervisory investigation for suspected serious violations of discipline and law, the Central Commission for Discipline Inspection and National Supervisory Commission said. Yu turned herself in voluntarily and is cooperating with the investigation.