Flash News

TREE NEWS reports: Goldman Sachs upgraded China Merchants Shekou Industrial Zone Holdings to Buy with a 12-month target price of 9.80 yuan per share. The rating change, issued by the US investment bank, applies to the Shenzhen-listed property developer. The note did not disclose further terms or rationale in the material provided.

TREE NEWS update: Dongfeng Motor Group and China North Industries Group (Norinco) plan a two-way share swap of listed subsidiaries valued at 727 million yuan ($100 million). A person familiar with the matter said the transactions amount to an exchange of equity between the two state-owned groups, will not change control of the listed companies and will have essentially no material impact on their main businesses.

TREE NEWS update: Hongchang Electronics said its wholly owned subsidiary Zhuhai Hongren Electronic Materials plans to sign an investment agreement with the Zhuhai Economic and Technological Development Zone to build a high-end copper clad laminate and prepreg project. The investment is at least about RMB 800 million, including at least about RMB 700 million in fixed assets. Once ramped, the project will add annual capacity of 10.8 million high-end copper clad laminate sheets and 24 million meters of prepreg, targeting AI servers, data centers and high-end consumer electronics.

TREE NEWS update: BlackRock filed for the iShares Bitcoin Managed Protection ETF, which would use options on its existing IBIT fund to limit losses in exchange for giving up some upside. The filing came as IBIT drew $665 million in a single day.

TREE NEWS update: Haisco Pharmaceutical Group announced it expects net profit attributable to shareholders of 1.32 billion to 1.40 billion yuan for the first three quarters of 2026, up 297.02% to 321.08% year on year. Non-recurring net profit is projected at 1.22 billion to 1.30 billion yuan, a rise of 250.27% to 273.24%. The company cited rapid growth in domestic sales of innovative drugs and upfront payments from several outbound licensing deals. The forecast is unaudited.

TREE NEWS update: Fuyao Glass reported third-quarter 2026 revenue of RMB 12.152 billion, up 2.51% year on year, while net profit attributable to shareholders fell 9.87% to RMB 2.036 billion. Non-recurring net profit came in at RMB 2 billion, down 9.71%. For the first nine months of 2026, revenue rose 2.46% to RMB 34.123 billion, but net profit dropped 14.97% to RMB 6.006 billion.

TREE NEWS update: Sinopharm Group Co. reported third-quarter net profit attributable to shareholders of 596 million yuan, up 9.7% year on year, on revenue of 13.878 billion yuan, up 0.95%. For the first nine months, revenue rose 3.11% to 40.606 billion yuan while net profit fell 1.07% to 1.476 billion yuan.

TREE NEWS reports: Indonesian stocks rose 5% after the government took steps to address the risk of an MSCI downgrade. The move follows concerns that index provider MSCI could lower Indonesia’s market classification, prompting authorities to act. No further details on the specific measures were given.

TREE NEWS update: SpaceX will report third-quarter 2026 financial results after the U.S. market close on Oct. 20, with a call at 4:30 p.m. ET, its second quarterly report since its June 2026 IPO. Wall Street expects revenue of about $12.7 billion to $12.9 billion, up from $7.81 billion in the second quarter. Investors will focus on AI infrastructure revenue, Starlink growth and heavy capital spending.

TREE NEWS reports: Hong Kong’s Hang Seng Index closed 1.32% lower and the Hang Seng Tech Index fell 1.52% on the session. Among the biggest decliners, Manycore Tech dropped about 25%, Lenovo Group about 10%, Zijin Gold International about 9%, GDS about 7% and CATL about 7%.

TREE NEWS update: Revolut’s UK operations suffered a widespread outage on October 20, with 30 services marked “partially unavailable” on its official status page. Affected personal services include registration, login, card payments, top-ups, transfers, ATM withdrawals, currency exchange, stock trading, crypto and identity verification. Business registration, transfers, the Business API, merchant payments and the sandbox environment were also impacted. Revolut said its team is investigating and will update the status page once the issues are resolved.

TREE NEWS reports: Memory chip stocks broadly declined in U.S. premarket trading, with SK Hynix falling about 4%. Western Digital, SanDisk, Micron Technology and Seagate Technology each dropped about 2%. The moves came in premarket trading ahead of the U.S. market open.

TREE NEWS update: Morgan Fund said shareholder JPMorgan Asset Management will invest $75 million (about 500 million yuan) of its own capital through an affiliate in the firm’s first active ETF, the Morgan Large-Cap Growth Active Equity ETF. The investment will be made after the fund lists. The commitment was disclosed by Morgan Fund.

TREE NEWS reports: Lenovo Group’s Hong Kong-listed shares dropped more than 10% on Wednesday. The decline marks a sharp single-session selloff for the PC and server maker, whose stock trades on the Hong Kong Stock Exchange. No immediate reason for the move was given in the available material.

TREE NEWS update: Hong Kong Exchanges and Clearing launched a voluntary “HKEX Green Equity” certification scheme on October 20 to help investors identify Hong Kong-listed companies with substantial green business operations. The exchange said the scheme uses a transparent framework and independent assessment based on internationally recognized standards, and is part of its efforts to drive the market’s low-carbon transition.

TREE NEWS update: Strive spent about $330 million to buy 4,045 bitcoin at $81,734, bringing its holdings to roughly 36,818 BTC, the company said on October 19. Listed non-mining companies bought a net $360 million of bitcoin last week, up 1,500% from two weeks earlier. Strategy added 267 BTC at $82,900, and Bitmine now holds 6.0415 million ETH, or 4.9% of supply.

TREE NEWS reports: The Beijing Stock Exchange 50 Index rose 3.88% on October 20, having climbed more than 5% intraday, as stocks on the exchange strengthened. Guolian Fund said the Financial Street Forum speech delivered a four-part policy package for the BSE covering ETFs, market-value allotment, innovation evaluation and tiering optimization. The fund said the steady introduction of a BSE 50 ETF is the most direct liquidity positive, and the exchange is entering a key acceleration phase in ecosystem building.

TREE NEWS update: Seoul-based data center infrastructure company Elice Inc. fell 32% on its trading debut, after dropping as much as 38%, marking the worst first-day performance of any large South Korean IPO on record. The company raised 201 billion won ($151 million) in its offering, priced at the top of its guidance range, with the retail tranche 400 times oversubscribed. The slump reflects investor concern over whether AI growth can justify the sector’s heavy spending.

TREE NEWS reports: BlackRock’s IBIT bitcoin ETF attracted a $665 million inflow, its largest since October 2025. Presto Research associate researcher Min Jung said investors could be positioning for a potential ‘catch-up trade’ in bitcoin.

TREE NEWS reports: European stocks opened lower on the day, with the Euro Stoxx 50 down 0.5% at the open. Germany’s DAX fell 0.4%, France’s CAC 40 dropped 0.3%, and the UK’s FTSE 100 slipped 0.2%.