Flash News

TREE NEWS update: Shengyi Electronics said in a production and operations announcement that it will accelerate the industrialization of high-speed, high-layer PCBs for switches, HDI for AI computing and products for satellite communications. The company said global computing capital expenditure keeps growing, with AI computing power as the core driver of the new tech revolution, and demand for high-speed, high-layer PCBs—key components for AI servers, switches and high-speed optical modules—remains strong.

TREE NEWS reports: Morgan Stanley lowered its price target on CoreWeave to $70 from $99, while raising its targets on Western Digital to $668 from $643 and on Spotify to $700 from $640. The revisions were disclosed on October 23. The note adjusts the bank’s outlook across the three technology and media names.

TREE NEWS update: Suzhou Jingxi Semiconductor Technology, a wholly owned subsidiary of Jiuzhou Yigui, signed a wafer dicing contract processing service agreement with a leading optical module customer worth RMB 34.0721 million (tax included). The company said the contract’s expected total profit is projected to exceed 50% of its audited net profit for the most recent fiscal year.

TREE NEWS update: *ST Wintech reported a net loss attributable to shareholders of 623 million yuan for the first three quarters of 2026, swinging from a 1.513 billion yuan profit a year earlier, the company said in a filing. Revenue fell 93.11% year on year to 2.05 billion yuan. The company attributed the decline to the divestment of its product integration business and restrictions on control of Nexperia’s overseas operations, which changed its business structure and sharply reduced scale.

TREE NEWS update: Biwin Storage said in a regulatory announcement that it is actively expanding into emerging application markets including artificial intelligence computing infrastructure. The company is advancing its dual strategy of storage plus wafer-level advanced packaging and accelerating construction of a wafer-level advanced packaging and testing manufacturing project. It is also pushing R&D and commercialization of FOMS, CMC and OEC advanced packaging technologies for advanced storage, compute-in-memory packaging and high-speed optical interconnects.

TREE NEWS reports: The 10-year U.S. Treasury yield fell 15 to 21 basis points across maturities on Oct. 22, its largest single-day decline since the March 2023 regional bank crisis, closing at 4.95%. JPMorgan attributed the move to a European sovereign debt selloff and weakness in Nasdaq tech stocks, not to a material improvement in U.S. fundamentals. The bank said foreign private capital continues to flow into long-end Treasuries and recommended holding 10s/30s steepeners.

TREE NEWS reports: Meta closed at $648.85 on October 22, down 6.98%, despite third-quarter revenue of $64.601 billion, up 26% year over year. Free cash flow turned negative at $2.12 billion as capital expenditure and finance lease payments of $34.91 billion exceeded operating cash flow of $32.79 billion. The company also booked about $9.89 billion in legal-related expenses and raised the lower end of its 2026 capex guidance to $135 billion.

TREE NEWS update: Montage Technology said it completed its A-share buyback plan on Friday, repurchasing 2.088 million shares, or 0.17% of total share capital, for 410 million yuan. The shares were bought at prices ranging from 184.14 yuan to 210.00 yuan each. The repurchased shares will be used to protect company value and shareholder rights, the company said in a filing.

TREE NEWS update: Shanghai Shibei Hi-Tech reported a net loss attributable to shareholders of 112 million yuan for the first three quarters of 2026, narrowing from a 187 million yuan loss a year earlier. Revenue rose 105.74% year on year to 1.678 billion yuan, driven mainly by industrial property sales. Third-quarter revenue was 369 million yuan, up 72.22%, while the quarterly net loss held at 41 million yuan.

TREE NEWS reports: Elon Musk this week proposed merging Tesla (TSLA.O) and SpaceX (SPCX.O), and a former Justice Department official said the deal carries a real risk of antitrust problems. The official said regulators generally view such “vertical” mergers as pro-competitive for supply-chain efficiency, but could seek to block a Tesla-SpaceX combination if it is deemed a “vertical exclusivity” merger, where the company uses its position to disadvantage competitors at other levels of the supply chain — for example if only Tesla vehicles could use SpaceX’s Starlink technology, harming other autonomous-driving or EV makers.

TREE NEWS reports: The S&P 500 fell 1.2% on Thursday, its worst single-day drop since July, while the Nasdaq Composite tumbled 2.6% as AI and semiconductor stocks retreated. More than 300 S&P 500 constituents still closed higher, and the Dow Jones Industrial Average and Russell 2000 edged up. Dow Jones Market Data said the last comparable divergence, with the index down but most components up, was in January 2025.

TREE NEWS update: Sanan Optoelectronics said its actual controller Lin Xiucheng has been arrested by prosecutors after being criminally detained by police on suspicion of embezzlement and misappropriation of funds. The company received notice from Lin’s family on Oct. 23, 2026. Lin has held no position at the company since July 10, 2017, and Sanan said the matter is unrelated to the company and will not materially affect production or operations.

TREE NEWS reports: The Stoxx Europe 600 extended its decline to 0.5% on the session, deepening an earlier pullback in European equities. The move marks a wider loss for the pan-European benchmark, with the index down half a percentage point from its prior close.

TREE NEWS update: China Molybdenum Co. reported net profit attributable to shareholders of 24.02 billion yuan for the first three quarters of 2026, up 68.21% year-on-year, on revenue of 207.29 billion yuan, up 42.48%. Third-quarter revenue rose 41.92% to 71.97 billion yuan, with net profit up 40.28% to 7.87 billion yuan. The company attributed the growth to higher copper volumes and prices, rising molybdenum and tungsten prices, and the consolidation of its Brazilian gold mining business.

TREE NEWS update: China Oilfield Services reported third-quarter net profit attributable to shareholders of RMB1.224 billion, down 1.7% year on year, on revenue of RMB11.941 billion, up 3.5%. Recurring net profit fell 2.4% to RMB1.201 billion. For the first nine months, revenue rose 2.5% to RMB35.729 billion and net profit edged up 0.7% to RMB3.233 billion, while recurring profit declined 4.3% to RMB3.034 billion.

TREE NEWS update: Hong Kong Exchanges and Clearing Limited (HKEX) announced on Friday the launch of the HKEX AI Index and the HKEX Semiconductor Index. The two new indices expand HKEX’s self-compiled index series and provide benchmarks for investors to capture opportunities in the artificial intelligence and semiconductor technology themes.

TREE NEWS reports: Volvo’s stock fell more than 30% in early trading in Stockholm on Friday, touching a record low. The drop marks one of the sharpest single-session declines for the automaker. No further details on the cause or timing were provided.

TREE NEWS update: Tasly announced that its revenue for the first three quarters of 2026 was RMB6.074 billion, down 3.76% year on year, while net profit attributable to shareholders rose 12.01% to RMB1.103 billion. Non-recurring net profit jumped 34.96% to RMB1.119 billion. In the third quarter alone, revenue fell 7.41% to RMB1.873 billion, but net profit edged up 0.10% to RMB210 million and non-recurring net profit climbed 31.45% to RMB249 million.

TREE NEWS reports: Hong Kong’s Hang Seng Index closed 0.69% higher, with the Hang Seng Tech Index gaining 2.05%. MINIMAX rose about 17%, while Bloks climbed roughly 13%, Zhipu about 8%, CATL about 5% and Shein about 5%.

TREE NEWS reports: Western Digital shares fell about 3% in premarket trading after the company reported its first-quarter financial results. The stock moved lower ahead of the opening bell following the earnings release. No further figures were provided.