Flash News

TREE NEWS reports: The Dow Jones Industrial Average fell 1% at the open, with the S&P 500 down 0.45% and the Nasdaq down 0.3%. Semiconductor stocks traded mixed: SK Hynix rose about 3%, while Western Digital fell about 3% after the company reported its first-quarter earnings.

TREE NEWS reports: The S&P 500 opened 26.25 points lower, down 0.34% at 7,637.18. The Dow Jones Industrial Average fell 171.28 points, or 0.32%, to 52,696.70, while the Nasdaq Composite dropped 114.91 points, or 0.44%, to 25,893.95.

TREE NEWS reports: Unitree Robotics, known as the “first humanoid robot stock,” surged 20% to hit its daily limit on its first limit-up since listing, as the humanoid robot concept rallied. Exchange disclosure showed the stock ranked among the top five securities by daily gain subject to price limits, with institutional investors posting the day’s largest net buying.

TREE NEWS reports: US equity futures fell ahead of Friday’s open, with Dow futures down nearly 1%. SK Hynix rose 5.5% while Western Digital fell about 3%. Gold broke below $4,000 an ounce during the session, and Brent crude rose to $115 a barrel. The Nikkei 225 closed down 0.3%, the Shanghai Composite gained 0.89% and the Hang Seng added 0.69%.

TREE NEWS update: Cambricon said in an announcement on its recent production and operations that its product lineup spans cloud and edge AI chips, boards, systems, processor IP and software, and that its cloud AI chip business has built strong competitiveness and a customer base. The company said sustained demand for AI computing power can support steady business growth, with gross margins held at a high and stable level and rapid revenue growth not diluting profitability.

TREE NEWS reports: High-frequency trading firms including Jane Street and Hudson River Trading are now competing on computing power, the foundational processing capacity at the heart of the AI revolution, moving beyond the nanosecond-level speed race that has long defined Wall Street market-making. The shift marks an escalation in the rivalry among the largest market makers, where raw compute is becoming as decisive as latency.

TREE NEWS update: American Express is cutting 5% of its workforce, affecting about 3,500 employees, the company said. The reduction is the latest sign of cost discipline at a major card issuer as it restructures operations. No further details on timing or which units are affected were provided.

TREE NEWS reports: Bank of America strategist Michael Hartnett said Friday he is tactically maintaining a risk-off stance until mid-November, expecting a trade of falling yields, falling stocks and a falling dollar. Hartnett wrote in a note to clients that unease over the AI trade and the US midterm elections is weighing on equities. He said the market still needs to fully price in the possibility that Democrats win control of both the House and Senate, which would end the current low-tax, low-regulation policy environment and hurt corporate earnings growth.

TREE NEWS update: On October 23, the first day of sales for China’s inaugural active ETFs, multiple products reached the 2 billion yuan fundraising cap and closed early, triggering pro-rata allocation. Morgan Asset Management (China), E Fund, and Fullgoal Fund each announced that their active ETFs would stop accepting subscriptions from October 24, making October 23 the final subscription day.

TREE NEWS update: Apple’s first foldable phone, the iPhone Duo, went on sale in China on October 23, with the mainland starting price set at 15,999 yuan. Crowds lined up at Apple stores in Beijing’s Sanlitun and Hangzhou’s West Lake to collect pre-orders, while resellers outside the stores said the launch-day premium had shrunk, with some complaining of losses.

TREE NEWS update: Schlumberger reported third-quarter revenue of $9.45 billion, topping the $9.29 billion estimate. Adjusted earnings per share came in at $0.64 versus $0.62 expected, while capital expenditure was $4.85 billion against a $5.293 billion forecast. The company’s US-listed shares fell nearly 1% in premarket trading.

TREE NEWS update: Wang Wei, controlling shareholder and actual controller of Xingyun Technology, together with concerted party Yunyong International, plans to increase their stake in the company by no less than RMB 50 million and no more than RMB 100 million within six months of the announcement date. The purchases will be made through centralized bidding, block trades and other methods, the company disclosed.

TREE NEWS update: China Bester Telecom said it plans to repurchase its shares through centralized competitive bidding, with the buyback amount set between RMB 50 million and RMB 100 million at a maximum price of RMB 25.84 per share. The repurchased shares will be used for an employee stock ownership plan or equity incentives, and the program will run for no more than 12 months from the date the board approves it.

TREE NEWS update: Meta’s board approved a new publicly listed non-voting Class C common stock, to be distributed as a one-for-one stock dividend on each existing Class A and B share. The restated charter’s effective date is Jan 19, 2027, and the dividend follows it; the record and payment dates have not been set. Meta said the dividend changes no shareholder’s voting rights and expects Class A’s price to reflect a roughly two-for-one split effect.

TREE NEWS reports: Zcash (ZEC) has gained about 3000% year to date, drawing increased involvement from Gemini co-founders Cameron and Tyler Winklevoss and Digital Currency Group founder Barry Silbert, who are competing over Zcash mining infrastructure and investment products. DCG’s Grayscale launched the first US Zcash ETF in August, while the Winklevoss twins filed for their own Zcash ETF this month.

TREE NEWS update: Xiehe Electronics said its controlling shareholders Zhang Nanguo, Zhang Minjin, Zhang Nanxing and Zhang Jianrong are planning a material matter that could lead to a change in control of the company. Trading in its shares was suspended from the market open on October 26, 2026, with the halt expected to last no more than two trading days.

TREE NEWS update: Cambricon reported third-quarter 2026 revenue of 3.531 billion yuan, up 104.47% year on year, with net profit attributable to shareholders of 1.404 billion yuan, up 147.74%. Non-GAAP net profit reached 1.358 billion yuan, up 168.13%. For the first nine months of 2026, revenue totaled 9.526 billion yuan, up 106.76%, and net profit was 3.715 billion yuan, up 131.49%.

TREE NEWS update: Tianfu Communication announced it will use its own funds to repurchase shares through centralized bidding, with a total buyback amount of no less than 100 million yuan and no more than 150 million yuan, at a maximum price of 350 yuan per share. The repurchased shares will all be cancelled, reducing the company’s registered capital accordingly. The plan still requires approval from the shareholders’ meeting.

TREE NEWS update: China Shenhua Energy plans to register and issue debt financing instruments and corporate bonds with a total quota of 30 billion yuan, the company said. The quota comprises 20 billion yuan for debt financing instruments and 10 billion yuan for corporate bonds, with the actual registered amount subject to approval by the authorized decision-making body.

TREE NEWS update: China Shenhua’s wholly owned subsidiary Guoneng Xinjiang Energy and Chemical plans to acquire a 50% stake in Guoneng Xinjiang Coal-to-Gas from affiliate National Energy Group Western Energy Investment for 618 million yuan via a non-public agreement. The related-party deal will make the target a wholly owned unit of Xinjiang Energy and consolidate it into its financial statements. The target is developing a 2 billion cubic meter per year coal-to-gas project in Zhundong with total investment of 15.077 billion yuan, construction started in October 2025 and trial production targeted for end-2027.