Flash News

TREE NEWS reports: China’s ChiNext Index fell 3.63% at the midday close on Oct. 29, with the Shanghai Composite down 0.93% and the Shenzhen Component down 2.55%, as more than 4,700 stocks declined across the three exchanges. The banking sector bucked the trend, with Qingdao Bank up nearly 8% and the combined market capitalization of the ‘Big Four’ state banks — ICBC, Agricultural Bank of China, Bank of China and China Construction Bank — exceeding 10 trillion yuan for the first time. Computing hardware and memory chip stocks led losses, with Tianfu Communication approaching a 20% limit-down and Biwin Storage falling more than 12%; morning turnover reached 996.7 billion yuan.

TREE NEWS update: The Federal Reserve will reduce the number of rate-setting meetings starting in 2027, Chair Kevin Warsh said on Oct. 28 after the FOMC held its target range at 3.75%-4%. One meeting in 2027 will focus on monetary policy strategy with no rate vote or policy statement, rising to two such sessions in 2028 with six policy meetings. Warsh declined to pre-judge December and said interest rates also affect AI investment.

TREE NEWS update: Gansu province issued a 5-year land-reserve special local government bond of 359 million yuan at a 1.4000% yield with a 2.73x marginal bid-to-cover ratio, alongside a 7-year shantytown redevelopment bond of 594 million yuan at 1.5100%. The largest tranche was a 10-year general bond of 4.1 billion yuan at 1.6900%, which drew a 25.38x marginal ratio. Twenty-year special bonds were priced at 2.1200%-2.1500% and 30-year tranches at 2.2100%.

TREE NEWS update: Shanghai’s municipal government published an action plan to promote high-quality development of small and medium-sized enterprises, widening financing channels and implementing tax and fee reductions. The plan directs local banks to increase credit to tech and traditional SMEs, expand first-time and credit-based lending, and support banks in issuing special financial bonds for small-business loans. It also calls for industrial funds to channel long-term capital into early-stage and hard-tech ventures and for regular publication of intellectual property finance product lists.

TREE NEWS reports: Global fund managers are warming to Japanese government bonds again, drawn by high yields, signs of recovering domestic demand and a more favorable policy environment. T. Rowe Price, which cut its JGB exposure earlier this year, now favors longer-dated bonds; Allianz Global Investors is selectively adding medium- and long-term debt, and BNP Paribas Asset Management has built exposure to ultra-long bonds.

TREE NEWS update: The Hong Kong Monetary Authority said a pronounced interest rate differential between the Hong Kong dollar and the US dollar remains in place. The authority advised the public to fully consider and manage interest rate risk. No further details were provided in the statement.

TREE NEWS reports: The combined A+H-share market capitalization of China’s four largest state-owned banks — Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank — exceeded 10 trillion yuan for the first time in history. All four rose more than 1% as the banking sector extended its rally. ICBC’s total market value stood at 2.94 trillion yuan, Agricultural Bank at 2.58 trillion, China Construction Bank at 2.35 trillion and Bank of China at 2.15 trillion.

TREE NEWS reports: The MMLC battery-grade lithium carbonate midpoint price in China fell 2,000 yuan to 96,900 yuan per tonne in early trading, compared with the 16:30 level the previous day. The early-session quote reflects the latest movement in the lithium compound used in EV and energy-storage batteries.

TREE NEWS update: China Development Bank issued a 3-year bond of 6 billion yuan at a yield of 1.3371%, below the expected 1.3400%, with a bid-to-cover ratio of 4.29 times and a marginal ratio of 4.73 times. It also issued a 10-year bond of 2 billion yuan at a yield of 1.6516%, below the expected 1.6700%, with a bid-to-cover ratio of 7.59 times and a marginal ratio of 76.67 times.

TREE NEWS update: China’s new round of refined oil product pricing window opens at 24:00 on Oct 29, with multiple institutions forecasting an increase. The pricing cycle runs from 24:00 on Oct 15, 2026, to 24:00 on Oct 29. Liu Bingjuan, an analyst at Longzhong Information, cited tight Middle East tensions, the US-Iran standoff and Houthi attacks on Saudi Arabia as providing strong support for oil prices.

TREE NEWS update: Iranian Foreign Minister Abbas Araghchi said on the 28th that Tehran has not abandoned diplomacy and is discussing with mediators how to implement a “seven-day plan” to open the Strait of Hormuz in a shorter timeframe. In a social media post, Araghchi said Iran remains committed to giving diplomacy a chance to succeed while its armed forces are fully prepared to defend the country, and that close, continuous communication with mediators is ongoing to ensure the plan can be carried out in under a week.

TREE NEWS reports: The ChiNext Index and the STAR 50 both dropped more than 3% on the day, while the Shanghai Composite fell 0.7% and the Shenzhen Component lost 1.85%, with computing hardware, semiconductor chips and software services among the biggest decliners. More than 4,400 stocks across the Shanghai, Shenzhen and Beijing markets closed lower.

TREE NEWS reports: The ChiNext Index dropped more than 2% on the day, while the Shanghai Composite fell 0.46% and the Shenzhen Component lost 1.38%. Computing hardware, semiconductor chips and software services led the declines. Nearly 3,800 stocks across the Shanghai, Shenzhen and Beijing exchanges closed lower.

TREE NEWS update: Samsung Electronics said it expects total shareholder returns of 90 trillion to 110 trillion won in 2026, of which 35 trillion won has already been planned or completed. The remaining funds will cover a large-scale share buyback and cancellation program along with cash dividends.

TREE NEWS update: The People’s Bank of China injected a net 115 billion yuan into the banking system on Thursday through open market operations. It conducted 115 billion yuan of 7-day reverse repos at an operation rate of 1.40%, alongside 1 trillion yuan of overnight reverse repos, while 1 trillion yuan of reverse repos matured the same day.

TREE NEWS reports: South Korea’s KOSPI index fell 2% to 5,891.35, with Samsung Electronics sliding nearly 4%. The decline in the benchmark index was driven by sharp losses in major technology shares, led by the country’s largest electronics maker.

TREE NEWS reports: Hong Kong’s Hang Seng Index opened 0.03% lower, while the Hang Seng Tech Index fell 0.5% at the open. The mixed-to-weak start reflects cautious sentiment in early trading.

TREE NEWS reports: The People’s Bank of China set the yuan’s daily midpoint at 6.7147 per dollar on the latest fixing, 18 pips stronger than the previous day’s 6.7165. The prior official onshore close was 6.6669, and the previous night session ended at 6.6660.

TREE NEWS update: Samsung Electronics said it expects continued profit growth in the fourth quarter and a strong chip market through 2027, with investment in new fabs and infrastructure aimed at meeting demand from artificial intelligence and high-performance computing. The company also warned its DX division will face pressure in the fourth quarter from rising component costs.

TREE NEWS reports: Bitcoin is facing renewed pressure after the Federal Reserve held rates with a hawkish tone, with traders now pricing a 78% chance of a December rate hike. Analysts say Treasury yields, the US dollar and upcoming inflation data will determine Bitcoin’s next move.