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AI selloff suppresses risk appetite, copper prices follow the decline.

The tech stock selloff weakens risk appetite, and copper prices fall.

AI Uncovers Long-Dormant PHP Vulnerability: Double-Edged Sword in Attack and Defense Highlights Cloud Security and Patch Management as Key Investment Themes

The widely used open-source programming language PHP has been exposed as having two critical vulnerabilities, "PHP2Shell." The vulnerabilities lay dormant for years and were only discovered with the help of AI. PHP developers released an emergency fix on Wednesday and urged users to update immediately.

European auto market rises for eight consecutive months: EV share surges to 43%, but Chinese brands capture the incremental growth.

European auto market sales accelerated last month, extending this year's streak of consecutive gains, and with consumers continuing to shift toward electric vehicles, a large portion of the incremental growth was captured by Chinese automakers.

AI trade concerns reignite: safe-haven buying returns to global bond markets, capital flows back to US Treasuries.

Weakening stock markets triggered safe-haven buying, with US Treasuries, the Japanese yen, and the Swiss franc all rising in tandem. US Treasury yields fell across the board, with the 30-year yield touching its lowest level since late September.

AI infrastructure boom drives demand growth! Nokia Oyj Sponsored ADR (NOK.US) Q3 operating profit beats expectations, optical network business sales up 18% year-over-year

As the AI infrastructure investment boom drives rising demand for data center networking equipment, Nokia's third-quarter earnings beat expectations.

Greater Bay Area Industry Development Index Released: Hong Kong's Overall Growth Reaches 8.9%, Ranking First in the Greater Bay Area

On October 22, the Our Hong Kong Foundation and Dah Sing Bank Limited jointly released the "Our Hong Kong Foundation - Dah Sing Bank Greater Bay Area Industry Development Index 2026."

Abbott Laboratories (ABT.US) Q3 revenue beats expectations but full-year guidance lowered; nutrition business plans spin-off and listing

Abbott announced its third-quarter 2026 results on Wednesday. At the same time, the company announced plans to spin off its nutrition business to establish a new independent publicly listed company.

Hong Kong Commerce and Economic Development Bureau: Hong Kong is the best platform to help enterprises expand overseas; the Go Global Task Force has assisted over 340 mainland enterprises.

As a "super connector" and "super value-adder," Hong Kong is the best platform to help enterprises expand overseas.

The combined trading volume of the Shanghai and Shenzhen stock markets exceeded 1 trillion yuan, a decrease of 15.7 billion yuan from the same time the previous day.

SITC (01308) will pay a special dividend of HK$1 per share on December 17.

SITC (01308) announced that it will pay a special dividend of HK$1 per share on December 17, 2026.

SITC (01308) revenue for the first three quarters increased by approximately 14.2% year-on-year to approximately US$2.808 billion.

SITC (01308) announced that the Group's revenue increased by approximately 14.2% from approximately US$2.459 billion for the nine months ended September 30, 2025 to approximately US$2.808 billion for the nine months ended September 30, 2026. For the nine months ended September 30, 2026, the Group's container volume was 2,912,100 TEU, an increase of approximately 5.9% compared with 2,749,800 TEU for the same period in 2025. The Group's average freight rate (excluding slot exchange fee income) for the nine months ended September 30, 2026 was US$825.9 per TEU, an increase of approximately 9.4% compared with US$754.9 per TEU for the same period in 2025.

SSY GROUP (02005): Labetalol Hydrochloride Has Been Approved by the National Medical Products Administration for Registration as an Active Pharmaceutical Ingredient Used in Marketed Formulations

SSY GROUP (02005) announced that the Group's Labetalol Hydrochloride has been approved by the National Medical Products Administration of China for registration as an active pharmaceutical ingredient used in marketed formulations. Labetalol Hydrochloride is primarily used for the treatment of hypertension.

TRANSTHERA-B (02617): Jieentai has issued its first clinical prescriptions in multiple provinces, with simultaneous stocking completed at DTP pharmacies in multiple locations nationwide.

Transthera-B (02617) announced that the company's independently developed Class 1 new drug Jieentai (tinengotinib tablets) has received conditional marketing approval from the National Medical Products Administration (NMPA) for the treatment of adult patients with advanced, metastatic, or unresectable cholangiocarcinoma who have previously received systemic therapy and FGFR inhibitor treatment and harbor fibroblast growth factor receptor (FGFR) 2 fusion or rearrangement.

Wedbush: Hard drive supply falls short of demand; Seagate (STX.US) and Western Digital Corporation (WDC.US) earnings expected to deliver "surprises"

Wedbush reiterates its "Outperform" rating on Seagate and Western Digital Corporation, with price targets of $1,000 and $650, respectively.

A-share Midday Review | ChiNext Index Falls 2.77%, Humanoid Siasun Robot&Automation Stocks Buck the Trend

The market showed a pattern of "broad index weakness, growth styles leading the decline, and humanoid robot stocks bucking the trend with active gains."

Susquehanna adjusts chip stock price targets ahead of earnings: AMD (AMD.US), Qualcomm (QCOM.US), and others upgraded

Susquehanna adjusts price targets on chip stocks including AMD, Intel, and Qualcomm.

National Energy Administration: By the end of September, the total number of electric vehicle charging infrastructure (guns) in China reached 24.777 million.

On October 22, the National Energy Administration released the national electric vehicle charging infrastructure data for September 2026.

Commodity futures morning session close

Caustic soda fell 4.65% consecutively, apple fell 4.31% consecutively, palladium fell 3.81% consecutively, lithium carbonate fell 2.83% consecutively, and platinum fell 2.59% consecutively.

Spot gold fell below $4,100/oz, down 1.08% intraday.

HKD interbank rates show mixed development; one-month rate reverses decline to rise, reported at 2.75%.

On October 22, HKD interbank rates showed mixed development, with the one-month rate, which is linked to mortgage loans, reported at 2.74500%, up 6.583 basis points.

John Lee: Hong Kong will proactively align with the 15th Five-Year Plan and accelerate the development of the Northern Metropolis

On October 22, John Lee, Chief Executive of the Hong Kong Special Administrative Region, delivered a video address at the 4th Guangdong-Hong Kong-Macao Greater Bay Area Development Business Conference.

Low cost and low volatility make the Singapore dollar a new favorite funding currency for carry traders.

Strategists say that, due to low borrowing costs and diminished expectations of appreciation, the Singapore dollar is becoming more attractive as a funding currency for carry trades, offering advantages over the Japanese yen.

The Shenzhen Component Index fell 2.00%, now at 11469.932 points; the Shanghai Composite Index fell 1.06%, now at 3673.613 points; the ChiNext Index fell 2.96%, now at 2615.055 points.

National Development and Reform Commission: In 2025, China's gross ocean product exceeded 11 trillion yuan, accounting for 7.9% of GDP.

Recently, the National Development and Reform Commission and the Ministry of Natural Resources released the "China Marine Economy Development Report 2026," which systematically summarizes the achievements in China's marine economy development during the "14th Five-Year Plan" period.

"Strongest El Nio in history" approaches; Pictet Asset Management: nowhere to hide for global assets as inflation shock collides with high debt

The prospect of the strongest El Nio cycle in history is prompting a growing number of money managers to race to prepare their portfolios for what they say is an impending shock.

A-share Market Open Brief | Shanghai Composite Index Opens Higher Then Pulls Back; Motor and Siasun Robot&Automation Concepts Buck the Trend with Active Trading

The Shanghai Composite Index opened slightly higher by 0.04%, then fluctuated downward. As of 9:32, it stood at 3,696.76 points, down 0.44%.

BlackRock Fixed Income CIO: High-grade credit presents a "historic" opportunity, with hyperscaler debt the top choice

BlackRock's Rick Rieder believes high-grade bonds present a "historic" opportunity.

Bank of Korea holds rates steady as expected to assess impact of consecutive hikes; governor's remarks may signal future policy path.

The Bank of Korea announced on Thursday that it will keep the seven-day repurchase rate unchanged at 3%, in line with market expectations. After raising rates twice in a row for the first time in more than three years, the central bank chose to pause to assess the impact of rising borrowing costs.

Survey shows: Over 80% of economists expect the Bank of Japan to raise rates in December, with holding steady in October becoming the consensus

More than 80% of Bank of Japan watchers expect the next rate hike to come in December.

Academicians Appraise Innovations, Nationwide First in the Energy Storage Industry | Excellence Ruixin (02687) Discipline Large Model Lands at Tianjin University

The launch event for the Tianjin University Energy Storage Discipline Domain-Specific Large Model and the Seminar on AI-Empowered New Engineering Education Reform was held at Tianjin University. Version 1.0 of the Excellence Ruixin Energy Storage Discipline Domain-Specific Large Model was officially unveiled.

BITFIRE GROUP (01611) Named Best Digital Prime Broker in Asia-Pacific: A Compliance Breakthrough for Web3-Native Institutions

New Fire Technology (01611) Named Best Digital Prime Broker in Asia-Pacific: The Compliance Breakthrough of a Web3-Native Institution New Fire Technology has won the title of "Best Digital Prime Broker in Asia-Pacific," becoming the only Hong Kong Web3-native financial institution to be selected. It reflects that the main axis of competition in Hong Kong's digital asset market is shifting from "who has a license" to "who can turn compliance into institutional-grade services."

Commodity futures open

Nickel rose 2.83% for a consecutive gain, polysilicon fell 2.81% for a consecutive decline, lithium carbonate fell 2.74% for a consecutive decline, styrene rose 2.38% for a consecutive gain, and caustic soda fell 2.36% for a consecutive decline.

A-share Pre-market Report | Full Implementation of AI+; Nasdaq Rises 1.05%; NVIDIA Corporation (NVDA.US) Expands Production

The General Offices of the CPC Central Committee and the State Council issued a document to promote the deep integration of scientific and technological innovation with industrial innovation.

Has the sell-off really gone too far? As CoreWeave (CRWV.US) suffers a double blow in both stocks and bonds, bankruptcy bets plunge and Wall Street bullish reports surge

CoreWeave's unsecured bond yields surge to 15%, yet bankruptcy bets plunge 8 points: the confidence crisis and bull-bear counteroffensive of the AI neocloud.

Broker Morning Meeting Highlights | Economy Bottoming Out and Rebounding in Q3; Data Group Establishment Kicks Off Operational Mainline

Huayuan Securities believes that economic momentum will bottom out and rebound in Q3, there is limited pressure to achieve the full-year target, and market downside risks may be marginally alleviated.

If the SpaceX (SPCX.US) and SpaceX (TSLA.US) merger materializes, Musk's net worth could surge by $110 billion.

Depending on the specific details of the merger, Musk himself could also gain enormous benefits from it.

"Old ginger is still spicier"! Outperforming Semiconductor and Debt Fears, Post-Buffett Era Berkshire (BRK.A.US) Hits New Highs Again

Berkshire Hathaway Class B shares rose as much as 3.2% to $543.06 during Wednesday's session, setting a new all-time high and surpassing the previous record set on May 2, 2025. When Buffett announced his departure a year ago, the stock fell for several consecutive months; now the market has completed its first pricing of the "post-Buffett era" with a new high.

Tesla, Inc. (TSLA.US) Q3 Earnings Report: Savings on the Books, but the AI Story Drifts Further Away

After Tesla (TSLA.US) released its Q3 earnings report, its stock price fell more than 3% in after-hours trading.

51WORLD (06651): 51Sim Included in NVIDIA Halos SAFE Ecosystem List, Will Further Expand Safety Validation Business for Domestic and International Automakers

51WORLD (06651) announced that its subsidiary, 51Sim (Wanwu Mirror (Beijing) Computer Systems Co., Ltd.), has been included in the NVIDIA Halos SAFE ecosystem list announced by NVIDIA at GTC (October 21, 2026), and is the only Chinese company on the list.

CICC: How to hedge against AI risks?

CICC released a research report stating that it remains optimistic about the return prospects of AI assets and recommends addressing recent market volatility through asset allocation, effectively "buying insurance" for AI assets.

AI trading worries ease! Muse gains momentum as Meta (META.US) continues to "burn compute."

Meta's Muse AI agent achieves strong growth, and Meta is increasing its investment in artificial intelligence through spending guidance and new share issuance.

AI bet escalates further! Meta (META.US) plans to issue Class C shares to raise funds; Zuckerberg's "control" remains unchanged.

Meta has established a new class of non-voting shares to raise funds for its massive spending in the field of artificial intelligence (AI).

SANDS CHINA LTD(01928) third-quarter total net revenue increased 1.4% year-on-year to US$1.93 billion.

SANDS CHINA LTD(01928) announced that, under US GAAP, Sands China's total net revenue for the third quarter of 2026 increased 1.4% to US$1.93 billion from US$1.9 billion in the third quarter of 2025.

Amid AI bubble concerns, Texas Instruments Incorporated (TXN.US) delivers solid results: Q3 revenue and profit both beat expectations, Q4 guidance unexpectedly strong.

Analog chipmaker Texas Instruments (TXN.US) reported third-quarter fiscal 2026 results, with revenue of $6.06 billion, above analysts' expectations of $5.90 billion, up 27.7% year-over-year.

New player joins the AI agent race! Anthropic launches Claude Duet preview to challenge OpenAI and Meta

Anthropic announced on Wednesday the launch of the Claude Duet preview. This is an AI agent product aimed at small businesses and professionals, and is expected to compete with OpenAI's Dots and Meta's Muse.

SAP (SAP.US) Q3 revenue exceeds 10 billion mark for the first time; full-year cloud business revenue expected to reach the high end of the guidance range.

SAP achieved a milestone in the third quarter with quarterly revenue exceeding 10 billion euros for the first time, and cloud business growth surpassing expectations indicates that the artificial intelligence (AI) boom has not weakened market demand for its products. The company also expects full-year cloud business revenue to reach the high end of its previous guidance range.

Southwest Airlines Co. (LUV.US) Lowers 2026 Profit Guidance: Rising Fuel Costs, but Record Q3 Revenue and Strong Demand Support Earnings Resilience

Southwest Airlines Co. (LUV.US) reported third-quarter 2026 results after the market close on October 21, becoming the third major U.S. airline this month to lower its full-year 2026 profit forecast due to rising fuel prices. Despite a significant increase in fuel costs, the company still achieved record revenue in the third quarter, driving a substantial year-over-year expansion in profit margin.

New Stock News | Xinde Semiconductor Passes HKEX Hearing, Focused on Semiconductor Packaging and Testing Technology Solutions

According to a disclosure by the Hong Kong Stock Exchange on October 21, Jiangsu Xinde Semiconductor Technology Co., Ltd. has passed the listing hearing for the Main Board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor.

Lam Research (LRCX.US) Q1 revenue surges 54% YoY to a record high! Results and guidance only slightly beat expectations.

Lam Research announced its first-quarter fiscal 2027 results for the period ended September 27, 2026.

UISEE TECH (01511) Partners with Leading Automaker to Provide Intelligent Assisted Driving Software Solution, Another Key Implementation Milestone in the Passenger Vehicle Intelligent Driving Sector

UISEE TECH (01511) announced that, as a core technology partner, the company, together with a leading automaker and core technology ecosystem partners, has provided intelligent assisted driving software solutions for the recently launched all-new Buick LaCrosse, the all-new Cadillac XT5 gasoline version, and the PHEV intelligent hybrid four-wheel-drive Air version, covering major usage scenarios such as urban commuting and long-distance highway driving.

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UOB Kay Hian: Cuts CATL (03750.HK) target price by 40.7% to HK$400; Q3 earnings below expectations, tax rate increase delays pass-through

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AI selloff suppresses risk appetite, copper prices follow the decline

8 m ago

Commodity futures close

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European stocks opened broadly higher, with Germany's DAX index up 1.35%, the UK's FTSE 100 up 0.19%, France's CAC40 up 1.06%, the Euro Stoxx 50 up 1.4%, and Italy's FTSE MIB up 1.17%.

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Stock index futures close for the midday session.

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