Flash News

TREE NEWS update: China’s Commerce Ministry voiced strong opposition after the U.S. Federal Communications Commission voted on Oct. 29 to bar testing labs, telecom certification bodies and accreditation organizations based in China and other so-called “non-reciprocal economies” from FCC-related work starting Dec. 1, 2028. A ministry spokesperson said the measure harms Chinese and other trading partners, disrupts global supply chains and that China has already taken countermeasures.

TREE NEWS update: Saudi Aramco shut the crude distillation unit (CDU) at its Ras Tanura refinery after a strike by Yemen’s Houthi forces. The closure affects the refinery’s primary processing unit, with no further operational details disclosed. Ras Tanura is one of the kingdom’s largest refining and export complexes.

TREE NEWS reports: Reliance Industries reported second-quarter net profit of 255.5 billion rupees, beating analysts’ estimate of 213.68 billion rupees. Other income came in at 57.9 billion rupees versus an expected 51.71 billion, while revenue reached 3.33 trillion rupees against total costs of 3 trillion rupees, up 28% year on year. Jio Platforms posted quarterly EBITDA of 218.79 billion rupees, up 16.6% year on year, with ARPU of 218.80 rupees.

TREE NEWS reports: Intel shares fell more than 30% on Monday, extending a steep decline. The move marks one of the chipmaker’s largest single-day drops. No further details were immediately available.

TREE NEWS update: China and Switzerland signed a protocol upgrading their free trade agreement, revising eight existing chapters including trade in goods, rules of origin, customs procedures, technical barriers to trade, trade in services, investment, competition and economic cooperation, and adding two new chapters on digital trade and trade and sustainable development. The protocol text comprises a preamble, the new and updated chapters with related annexes, and general provisions.

TREE NEWS reports: The Philadelphia Semiconductor Index fell 6%, extending its decline, as chip stocks sold off. The index, which tracks major US semiconductor companies, deepened its losses during the session. No specific cause for the move was given in the available material.

TREE NEWS reports: The US October Chicago PMI came in at 55.3, missing the expected 56.1 and down from the prior reading of 58.8. The reading marks a slowdown in the pace of activity at Chicago-area businesses for the month.

TREE NEWS reports: The Philadelphia Semiconductor Index fell 5.7%, with Nvidia shares dropping 3.3% to $206.610. Nvidia’s total market capitalization fell to $4.98 trillion, slipping below the $5 trillion mark.

TREE NEWS update: China’s State Administration of Foreign Exchange (SAFE) pledged on Oct. 30, 2026, to maintain forex market stability and safeguard national economic and financial security, following a party group meeting chaired by administrator Zhu Hexin. The regulator said it will implement the 15th Five-Year Plan by improving a more convenient, open, secure and smart FX management system, deepen reform and high-level opening in the FX sector, and crack down hard on illegal cross-border financial activities.

TREE NEWS update: Federal Reserve Bank of Richmond President Tom Barkin said the Fed has signaled a “gradual” approach and that it will watch developments over the coming period. Barkin said the key to fighting inflation lies in pacing, and that the question in tackling inflation is one of speed. US businesses are facing substantial cost pressures, he added.

TREE NEWS update: Ukrainian drones struck three Russian oil refineries and one gas-chemical complex on October 30, Russian Deputy Prime Minister for Energy Alexander Novak said. Kremlin aide Yuri Ushakov said in an interview the same day that Ukraine had resumed attacks on Russian refineries. The strikes mark a renewed targeting of Russia’s energy infrastructure.

TREE NEWS update: The 10th Shanghai-Hong Kong Financial Cooperation Working Meeting was held in Shanghai on October 30. Li Junjie, executive deputy director of the General Office of the CPC Shanghai Municipal Financial Commission, and Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, attended along with representatives from financial regulators and financial infrastructure bodies from both cities.

TREE NEWS reports: US stocks opened sharply lower, with the Nasdaq down 2.23%, the S&P 500 down 1.16% and the Dow down 0.28%, as investors questioned returns on heavy AI spending by tech giants. Intel plunged more than 26%, its biggest single-day drop since 2024, after fourth-quarter guidance badly missed expectations, an Israeli plant explosion, weak PC demand and constrained AI chip supply. AMD fell over 10% and Dell over 12%; Amazon dropped over 5% after third-quarter net sales of $201.9 billion missed estimates and EPS fell 3% year on year to $1.89. Coinbase fell 9.1% and Strategy 8.9%.

TREE NEWS reports: The S&P 500 opened 89.32 points lower, down 1.16% at 7,631.07, while the Nasdaq Composite fell 592.24 points, or 2.26%, to 25,592.49. The Dow Jones Industrial Average bucked the trend, opening 41.34 points higher, up 0.08% at 52,383.90.

TREE NEWS reports: A US fusion startup says it has turned mercury into gold, a claim that could raise questions about gold’s scarcity. The development raises the prospect of an increased gold supply, which could strengthen Bitcoin’s claim to be a better form of digital gold. No further details on the process or the company were provided.

TREE NEWS update: Ukrainian Prime Minister Yulia Svyrydenko said 527 residents of Oleshky will be brought back to Ukraine from the Russian-controlled part of Kherson region, Interfax-Ukraine reported on the 30th. In a routine report to the Verkhovna Rada, she said the returnees will travel via Belarus and enter Ukraine through border crossings in Chernihiv and Kyiv regions, then be resettled across several oblasts where preparations are complete.

TREE NEWS update: The World Data Organization (WDO) formally established its Shipping and Trade Digitalization Professional Committee in Shanghai on October 30, at the opening of the 2026 Global Data Merchants Conference. The committee will address cross-border data flows, mutual recognition of electronic documents and carbon footprint accounting, issues the WDO said are becoming new priorities in international data governance as global shipping and trade digitalization accelerates.

TREE NEWS update: Hu Jinglin, head of China’s State Taxation Administration, chaired an expanded party committee meeting that called on tax authorities to advance tax compliance management steadily and deepen reform of tax collection and administration. The meeting urged authorities to levy taxes and fees in accordance with the law and to firmly hold the line against collecting excessive or improper taxes and fees.

TREE NEWS update: China and Vietnam reached consensus on frequency coordination for 4G/5G public mobile communications systems in their border areas at talks held in Kunming, Yunnan province, from Oct. 27 to 29, 2026. The two sides also exchanged views on radio frequency management policy and agenda items for the 2027 World Radiocommunication Conference (WRC-27), laying the groundwork for maintaining radio order and ensuring the normal operation of radio services along the border.

TREE NEWS reports: Crude oil rose more than 3% at the open of China’s night futures session, while pure benzene, paraxylene, styrene, asphalt and synthetic rubber gained over 2%, and bottle chip, ethylene glycol, PTA and low-sulfur fuel oil added more than 1%. On the downside, Shanghai silver fell over 3% and Shanghai tin dropped more than 2%, with caustic soda, soda ash and Shanghai gold each down over 1%.