Flash News

TREE NEWS update: Beijing issued a total of 235.35 billion yuan in special local government bonds across eight tranches, including 18.85 billion yuan of 2-year shantytown redevelopment bonds at a 1.26% coupon and 88.83 billion yuan of 3-year special bonds at 1.31%. Tenors ranged from 2 to 30 years, with 30-year bonds priced at 2.22% and 10-year other special bonds drawing a marginal bid multiple of 12.50x.

TREE NEWS update: Cathay Pacific said it will cancel passenger flights to and from Dubai and Riyadh through January 31, 2027. The airline gave no reason for the extended suspension in the statement. The move covers Cathay’s passenger service on both Middle East routes for roughly the next year and a half.

TREE NEWS update: The China Geological Survey under the Ministry of Natural Resources announced on September 28 that the “Dream” ocean drilling ship completed coring operations at two wells in the South China Sea at a water depth of 4,100 meters, recovering basalt samples from the sea basin. China’s deep-sea drilling and coring capability has now been raised to the 5,000-meter class.

TREE NEWS update: Lu Xin, former vice minister of education and former member of the ministry’s Party leadership group, is under disciplinary review and supervisory investigation on suspicion of serious violations of discipline and law. The probe is being conducted by China’s Central Commission for Discipline Inspection and the National Supervisory Commission, the country’s top anti-corruption bodies.

TREE NEWS reports: The ChiNext Index fell more than 3% and the Shanghai Composite dropped over 1%, while the Shenzhen Component declined 2.21%. Precious metals, consumer electronics, computing hardware and agriculture led the losses, with nearly 4,500 stocks falling across the Shanghai, Shenzhen and Beijing exchanges.

TREE NEWS reports: Hong Kong’s Hang Seng Index rose 1% on the day, extending gains for the benchmark gauge of Hong Kong-listed equities. The move reflects broader sentiment in Hong Kong’s stock market, which includes a growing cohort of crypto- and Web3-linked listings. No further details on the drivers or sector-level performance were provided.

TREE NEWS reports: China’s high-tech manufacturing sector posted a 54.7% year-on-year profit increase in the first eight months of 2025, outpacing overall industrial profit growth by 39.0 percentage points, the National Bureau of Statistics said. Fiber optic manufacturing profits rose 5.3-fold and optical cable manufacturing 1.0-fold, driven by accelerated buildout of computing infrastructure. Computer manufacturing profits rose 3.9-fold, computer peripheral equipment 2.6-fold, industrial control computers 1.3-fold and communication system equipment 48.7%.

TREE NEWS reports: China’s electronics industry profits rose 110% year-on-year in January-August, contributing 62.0% of the total profit growth of industrial enterprises above designated size, the National Bureau of Statistics said. Demand for chips from new energy vehicles, IoT and computing centers lifted profits in optoelectronic device manufacturing by 72.0% and semiconductor discrete device manufacturing by 51.8%. Electronic specialty materials manufacturing profits grew 2.3-fold and electronic circuit manufacturing 49.1%.

TREE NEWS reports: China’s National Bureau of Statistics said industrial enterprise profits above a designated size rose 4.2% year-on-year in August, with growth easing from the prior month due to a higher base of comparison in the same period last year. Gross profit, calculated as operating revenue minus operating costs, grew 7.5% in August, 1.9 percentage points faster than the previous month.

TREE NEWS reports: China’s ChiNext and STAR 50 indices each fell more than 1% on the session, while the Shanghai Composite dropped 0.45% and the Shenzhen Component lost 0.7%. Precious metals, lithium mining, coal and semiconductors led the declines, with more than 3,100 stocks falling across the Shanghai, Shenzhen and Beijing exchanges.

TREE NEWS reports: China’s industrial enterprise profits rose 15.7% year on year in the first eight months of 2025, slowing from the 17.6% pace recorded in the January-July period, official data showed. The figures cover industrial enterprises above a designated size. The deceleration marks a slower pace of profit growth for the sector versus the prior reading.

TREE NEWS update: The Asian Infrastructure Investment Bank will hold its 11th annual meeting of the Board of Governors in Doha, Qatar, on the 28th local time. The China-initiated multilateral development bank, co-founded by 57 countries, has approved more than 400 projects with total financing of nearly $80 billion, benefiting 43 members inside and outside Asia.

TREE NEWS reports: China’s treasury futures opened mixed on the latest trading session, with the 30-year main contract up 0.09% and the 2-year main contract up 0.01%. The 10-year and 5-year main contracts were both flat versus the previous day’s close.

TREE NEWS reports: China’s major stock indexes opened lower on the session, with the Shanghai Composite down 0.26% at 3878.41. The Shenzhen Component fell 0.38% to 13265.79, the ChiNext Index dropped 0.65% to 3267.60, and the CSI 300 declined 0.35% to 4423.82. The STAR 50 lost 0.68% to 1610.92, while the CSI 500 and CSI 1000 opened 0.33% and 0.25% lower at 7599.20 and 7551.22.

TREE NEWS update: The People’s Bank of China conducted 139 billion yuan of 7-day reverse repurchase operations on Thursday, with the rate held at 1.40%, unchanged from the previous operation. The central bank also carried out 661 billion yuan of overnight reverse repos and 300 billion yuan of 14-day reverse repos in its open market operations that day.

TREE NEWS reports: Hong Kong’s Hang Seng Index opened 0.18% higher at 24,554.58 points, while the Hang Seng Tech Index rose 0.29%. Tencent Music, NetEase, Horizon Robotics and Tencent Holdings each gained more than 1% in early trade.

TREE NEWS update: US President Donald Trump said he will meet with Anthropic’s team on Tuesday, adding that the AI company’s co-founder and CEO, Dario Amodei, is highly respected. Trump announced the meeting without providing further details on the agenda or attendees.

TREE NEWS reports: The People’s Bank of China set the yuan’s central parity rate at 6.7399 per US dollar, 90 pips stronger than the previous fix of 6.7489. The onshore yuan closed the prior session at 6.7131, while the overnight session ended at 6.7125.

TREE NEWS update: China and the United States held a round of trade and economic consultations in New York and Washington from September 20 to 23, reaching positive consensus, the Ministry of Commerce’s Department of American and Oceanian Affairs said in an interpretation of the outcome. The two sides said the results contributed to the economic and trade agenda of a meeting between the two countries’ heads of state.

TREE NEWS reports: China’s commodity futures opened mixed on the latest session, with the container shipping Europe route surging more than 5%. Bitumen and methanol each rose over 2%, while Shanghai silver and lithium carbonate each fell more than 2%. Glass, coking coal, palladium and Shanghai gold each dropped over 1%.