Flash News

TREE NEWS update: Jared Kushner, son-in-law of US President Donald Trump, said on the 12th local time that Russia and Ukraine have agreed to expand the scope of the next round of negotiations to include European countries. Kushner also said the US is working to facilitate the largest prisoner-of-war exchange since the start of the Russia-Ukraine conflict. He said the US is encouraged by the progress but that significant differences remain.

TREE NEWS reports: Jinxinnong surged to its daily limit-up on Monday, leading a rally in Chinese pork stocks. Other pig farming and feed names including Giantstar Bio, Bangji Technology, Huatong, Tianbang Food and Shennong Group also climbed. The material did not specify the date of the move or the size of the gains.

TREE NEWS update: China National Petroleum Corporation Chairman and Party Secretary Dai Houliang chaired a meeting of the company’s carbon peak and carbon neutrality and emerging industries leadership group on Nov. 12, the company said. The meeting heard reports from the group’s office and from task forces on new energy and new materials, and set out priorities for the next stage of work.

TREE NEWS update: China’s National Food and Strategic Reserves Administration held a national on-site meeting on high-quality grain industry development in Qingdao, Shandong, on Nov. 11 to review progress and plan for the 15th Five-Year Plan period. The meeting called for pursuing quality- and efficiency-driven growth, with full-chain efforts, local adaptation and innovation-driven development.

TREE NEWS reports: Chipmaker Sigmastar plans to list in Hong Kong and raise $300 million. The company is pursuing a Hong Kong initial public offering, with the target fundraising amount set at $300 million. Further details of the listing, including timing and valuation, were not disclosed.

TREE NEWS update: People’s Bank of China Deputy Governor Zou Lan said on Nov. 13 that financial institutions should be guided to interpret and use credit reports properly and avoid over-reliance on the credit system. Speaking at the 17th Caixin Summit, Zou called for strict compliance with rules on disclosing comprehensive financing costs and online marketing of financial products, urging responsible lending and differentiated operations. He also said the public, especially young people, should build sound credit habits and borrow rationally.

TREE NEWS update: A magnitude 4.0 earthquake struck the Kumamoto region of Kumamoto Prefecture, Japan, at about 10:52 local time on the 13th, the Japan Meteorological Agency said. The quake registered a maximum seismic intensity of 3 and had a focal depth of 10 kilometers.

TREE NEWS update: People’s Bank of China Deputy Governor Zou Lan said on Nov. 13 at the 17th Caixin Summit that the central bank will step up data governance and service levels for its credit reporting system, improve mobile app channels for public access, and explore broader cooperation between the central bank’s credit system and commercial credit agencies. He also called for tighter control of credit data quality at the source, including rules for institution entry and exit and credit information intake, to prevent data contamination and ensure system security.

TREE NEWS update: People’s Bank of China Deputy Governor Zou Lan said on Nov. 13 at the 17th Caixin Summit that the central bank will strictly enforce licensing requirements for credit reporting agencies and crack down on unlicensed, illegal credit reporting activities. He said the PBOC will push personal credit agencies to improve quality and efficiency, upgrade the corporate credit market, and develop diversified products such as “data + credit reporting” and “AI + credit reporting.”

TREE NEWS reports: Innovative drug concept stocks in China moved lower, with Baipu Saisi and Warner Pharmaceutical falling more than 10%. Wanbang Pharmaceutical, Nearshore Protein, Guilin Sanjin and Baihua Pharmaceutical each declined more than 6%, reflecting a broad pullback across the sector.

TREE NEWS reports: The ChiNext Index rebounded from its lows to turn positive, having earlier fallen more than 1.5%. The index recovered its losses intraday, reversing the earlier decline. No further details on the move were provided.

TREE NEWS update: The Export-Import Bank of China issued a 1-year bond with a scale of 1 billion yuan, at an issuance rate of 0.0000% versus an expected 1.3800%. The bid-to-cover ratio was 1.00 times, and the marginal ratio was also 1.00 times.

TREE NEWS update: Democratic congressional leaders confirmed that multiple senior officials in the Trump administration, including Secretary of State Marco Rubio, could become targets of investigations and impeachment after Democrats formally take control of Congress in January. The statement signals the incoming majority’s intent to pursue oversight actions against top administration figures once the new session begins.

TREE NEWS update: BAIC Group Chairman Zhang Jianyong led a delegation to Shenzhen on Nov. 10 to meet Huawei founder Ren Zhengfei and senior Huawei executives, the automaker said, with both sides pledging to deepen strategic cooperation. They said the Xiangjie brand, combining BAIC’s luxury car-making experience with Huawei’s intelligent technology, has achieved some success and will see increased investment to build it into a Chinese luxury brand. Xiangjie’s first family smart flagship MPV, the V8, launches Nov. 20.

TREE NEWS reports: Shares of Chinese computing-power hardware suppliers fell in a broad decline, with Yuanjie Technology and Kexiang Co. dropping more than 10%. Tianfu Communication, Robert Ke, JPT, Kinwong Electronic, Victory Giant Technology, Shengyi Technology and Wus Printed Circuit each fell more than 7%. The material gave no reason for the move.

TREE NEWS update: China’s Ministry of Finance awarded its 1-month treasury cash deposit at a winning rate of 1.30% on the latest operation, down from 1.42% previously. The 12-basis-point decline marks a lower yield on the short-term placement of fiscal funds with commercial banks. No size or settlement date was disclosed.

TREE NEWS reports: The ChiNext Index fell more than 1% while the Shanghai Composite slipped 0.05% and the Shenzhen Component dropped 0.53%, with computing hardware, agriculture, solar and real estate among the worst-performing sectors. More than 3,400 stocks declined across the Shanghai, Shenzhen and Beijing exchanges.

TREE NEWS update: US Treasury Secretary Scott Bessent said he is watching whether Democrats are “serious” about lowering the US debt level, and signaled the Trump administration is willing to address “tax gimmicks” as part of a solution to reduce the national deficit. Bessent did not specify which tax provisions he was referring to or provide a timeline for any proposal.

TREE NEWS reports: New World Development Co. has hired banks to prepare a rights issue aimed at raising as much as HK$25 billion, Bloomberg reported. The Hong Kong-listed property developer has not disclosed the timing or pricing of the offering. The move comes as the company seeks to shore up capital.

TREE NEWS reports: China A-share semiconductor and chip stocks led gains at the open, with Tianpu Co. hitting its fourth consecutive daily limit-up and Huadong Heavy Machinery locked at the limit-up ceiling from the open. Xuanji Information, Dashengda, Moore Threads, Tianpu and Cambricon each rose more than 4%.