Flash News

TREE NEWS update: China’s Communist Party Central Committee and the State Council issued an opinion on developing “new quality productive forces,” setting out 19 key measures across five areas: advancing scientific and technological innovation, deepening the integration of technological and industrial innovation, innovating development models, reforming institutions and mechanisms, and reforming talent work mechanisms. The document calls for revolutionary technological breakthroughs and deep industrial transformation, with a substantial rise in total factor productivity as the core marker.

TREE NEWS update: China’s securities regulator has told non-sector, non-theme funds they must maintain diversified holdings and may not concentrate investments in a single industry or theme. Under the CSRC’s new Operating Measures, products positioned as all-market stock pickers must allocate relatively broadly and cannot effectively turn into single-track funds, addressing the practice known as “broad benchmark, narrow bets.”

TREE NEWS update: Meituan signed its 2026 labor rules and algorithm agreement with rider representatives at a consultation meeting in Beijing, the company said. The agreement raises the pay weighting for difficult deliveries such as overweight, bulky and walk-up orders, and increases compensation in severe weather. Meituan will keep its policy of no overtime deductions and will gradually expand its red-light timer pilot, while pushing forward pension insurance subsidies for riders.

TREE NEWS update: China’s securities regulator, the CSRC, has opened public consultation on a draft revision of the rules governing publicly offered securities investment funds and accompanying provisions. The draft requires fund managers to take primary responsibility for investment operations, strengthen counter-cyclical positioning and risk controls, and keep investment styles stable by making benchmark indices more binding. Industry- and theme-named funds must clearly define the investment direction their names indicate, while non-theme funds must adhere to diversified investment principles.

TREE NEWS update: China’s securities regulator on October 9 released draft rules for public securities investment fund operations that would lower the launch threshold for equity funds and funds of funds to 50 million yuan and 50 million units, down from 200 million yuan and 200 million units. The threshold for fixed-income funds would remain unchanged.

TREE NEWS reports: Bitcoin fell below $81,000, triggering $1.1 billion in crypto liquidations as speculators moved roughly 55,000 BTC to exchanges at a loss. The inflows mark a capitulation-style transfer of coins from traders to trading venues during the selloff. The drop and resulting liquidations hit leveraged positions across the market.

TREE NEWS reports: Resale home transactions across 50 key cities on the Beike platform rose more than 45% year-on-year on a daily average basis during China’s 2026 National Day holiday. All city tiers posted gains, with second- to fourth-tier cities growing fastest. After a mortgage interest subsidy policy was introduced, resale buyer inquiries and home viewings increased notably, with weekly viewings up about 20% from the prior week.

TREE NEWS reports: Bank of America strategist Michael Hartnett said investors are pouring money into cash funds at the fastest pace since the COVID-19 pandemic, and the trend is unlikely to reverse soon. Money market funds took in $166.4 billion in the week to October 7, the highest since April 2020. Hartnett wrote that the large pool of sidelined cash will stay put until the Federal Reserve delivers large-scale monetary easing and sustained rate cuts.

TREE NEWS reports: China Securities Finance data shows 108,900 new margin trading and securities lending accounts were opened in September, up 1.4% from 107,400 in August but down 46.98% from 205,400 a year earlier. By end-September, total margin accounts stood at 16.7678 million, up 1.1276 million from 15.6402 million at the start of the year, while the market-wide average collateral ratio fell to 268.38% from 282.22% at end-August.

TREE NEWS reports: The People’s Bank of China injected a net 100 billion yuan through outright government bond trading in September 2026. The central bank also reported a net 200 billion yuan injection via the medium-term lending facility, a 1.4 billion yuan net withdrawal through pledged supplementary lending, and an 86 billion yuan net drain from 7-day reverse repos.

TREE NEWS reports: UNCTAD’s 2026 Trade and Development Report, released on 9 January, projects global GDP growth of 2.6% in 2026, down from 2.9% in 2025. Growth in developing economies is expected to slow to 4% from 4.7% last year. Asia is forecast to contribute 59% of global growth in 2026.

TREE NEWS update: Baotou Steel announced it plans to adjust the related-party transaction price of its rare earth concentrate for the fourth quarter of 2026 to 38,769 yuan per ton, excluding tax, on a dry basis at 50% REO. Under the pricing mechanism approved at the company’s 2022 annual shareholders’ meeting, the tax-exclusive price rises or falls by 775.38 yuan per ton for each 1% change in REO content.

TREE NEWS update: Ningbo’s municipal government has issued 17 measures to strengthen regulation and prevent risks in the private fund industry, becoming the first local government in China to implement the sector’s national top-level design. The document, Ningbo Government Office Document No. 25 of 2026, takes effect on October 23, 2026, and aims to improve private funds’ service to the real economy.

TREE NEWS update: The US cash bond market will be closed on Monday, October 12, for Columbus Day, according to the holiday schedule of the Securities Industry and Financial Markets Association (SIFMA). Columbus Day is one of the US federal legal holidays.

TREE NEWS reports: Bitcoin briefly fell below $81,000 to $80,400 before rebounding above $82,000, while ether dropped to about $2,400. Roughly 180,000 traders were liquidated in 24 hours for nearly $1.1 billion, about $935 million of it longs. Lookonchain tracked the US government depositing 17,733 BTC worth $1.48 billion plus 750 WBTC to Coinbase Prime over three days, during which BTC fell 6.9%.

TREE NEWS reports: The onshore yuan closed at 6.6921 per US dollar at 16:30 Beijing time, up 93 pips from the previous official close and 115 pips from the prior overnight close. The move marks a firmer official fixing for the Chinese currency against the dollar.

TREE NEWS reports: Hong Kong stocks closed higher, with the Hang Seng Index rising 1.79% and the Hang Seng Tech Index gaining 3.06%. The tech-heavy gauge outperformed the benchmark on the day.

TREE NEWS reports: The London Metal Exchange reported declines across most base metals inventories. Copper stocks fell 2,200 tonnes, nickel dropped 1,314 tonnes, zinc declined 575 tonnes, lead decreased 750 tonnes and tin slipped 45 tonnes. Aluminium inventories were unchanged.

TREE NEWS reports: Apple has told some suppliers to cut component output for the newly launched iPhone 18 Pro and iPhone 18 Pro Max, after surging memory chip costs forced higher prices and weaker consumer demand, media reports said on October 9. Supply chain sources said the same day that total order volumes have not materially changed, with most iPhone 18 Pro Max configurations still showing estimated delivery times of three to four weeks on Apple’s website.

TREE NEWS reports: Evonik Industries shares rose 1.9% on a report that BASF may raise its takeover offer for the company. The move follows speculation of a higher bid for the German specialty chemicals maker. No further terms or timeline were disclosed.