Pre-Market Headlines

1. Dual catalysts spark rally: Nasdaq hits record high, AMD surpasses $1 trillion market cap, Meta ignites AI trade

Type: Market sentiment | Impact: Positive

Signs of easing geopolitical tensions sent international oil prices tumbling, relieving inflationary pressures. Combined with sustained optimism in the artificial intelligence sector, the Nasdaq closed at an all-time high. Chip stocks led the rebound, with Advanced Micro Devices (AMD) surging 10% to reach a $1 trillion market valuation for the first time. Meanwhile, Meta's AI assistant Muse climbed to the top of the free app charts on both Apple's and Google's app stores, driving the company's shares up more than 11%. South Korea's KOSPI index rose 2.2% in early trading, with Samsung Electronics gaining 3% and SK Hynix adding 2%.

2. Central bank convenes symposium with foreign financial institutions: steady expansion of two-way opening in financial markets

Type: Macro | Impact: Positive

The People's Bank of China (PBOC) held a symposium with foreign financial institutions. PBOC Governor Pan Gongsheng stated that the central bank will implement a moderately loose monetary policy to create a favorable monetary and financial environment for stable economic growth and smooth financial market operations. He also emphasized continued efforts to promote high-level financial opening, persistently improve policy supply, steadily expand two-way opening of financial markets, continuously optimize cross-border payment services, and further facilitate the international use of the Renminbi.

3. Shengu Group's share price volatility draws attention, SSE issues late-night notice warning of risks; experts say speculation unlikely to last

Type: Company | Impact: Negative

Since its listing, Shengu Group's shares have experienced significant volatility for three consecutive trading days, showing clear characteristics of speculative trading. Last night, the Shanghai Stock Exchange issued another notice stating it will continue to closely monitor trading in the stock during its early listing phase and will take self-regulatory measures as appropriate. Capital market experts have cautioned that short-term speculation detached from fundamentals is unlikely to persist, advising investors to rationally assess price fluctuations in newly listed stocks and be mindful of investment risks.

4. Nearly 40 companies preview third-quarter results, AI industry chain continues to deliver strong performance

Type: Industry | Impact: Positive

A-share listed companies have begun disclosing performance previews for the first three quarters of fiscal year 2026. Companies along the AI industry chain have shown particularly impressive operating results. From GPUs and semiconductor packaging and testing to precision manufacturing, multiple enterprises have achieved high growth driven by surging computing power demand. Meanwhile, sectors such as biomedicine and new energy are also seeing steady improvements in operating performance, supported by higher product volumes and prices.

Investment Calendar

The 2026 Alibaba Cloud Apsara Conference opens today.

Investment Tips

"In monetary policy formulation, credibility is a valuable asset, but it is built primarily through actions and results, not merely through words." — Ben Bernanke, "21st Century Monetary Policy"

Institutional Perspectives

1. GF Securities: The market is witnessing a "well-timed rebound opportunity," with attention focused on the high-growth AI industry chain in third-quarter earnings.

2. Soochow Securities: The A-share market is set to enter a phase of phased recovery, with the timeline extending to roughly one week after the National Day holiday.

3. Founder Securities: The market's upward trend remains solid amid consolidation, with a focus on policy-driven beneficiaries and oversold recovery sectors while seizing rotation opportunities.

Positive and Negative Outlook

1. Zhuhai issues housing vouchers in new property policy; institutions say real estate policy still has ample room

Type: Policy focus | Impact: Positive

Kaiyuan Securities: On the demand side, there remains significant room for relaxation in restrictive policy adjustments in core cities, provident fund loans, and urban renewal initiatives. If policy intensity and implementation speed are further strengthened, the process of stabilizing and recovering the real estate market is expected to accelerate.

2. AI agent competition heats up: OpenAI reportedly ramps up preparations against Grok Bot and Muse

Type: Market discussion

China International Capital Corporation (CICC): The AI rally has moved from early-stage technological imagination into the "mid-game" phase of realization. Agent applications, token consumption, ARR growth, and cloud capital expenditure are forming a clearer commercial closed loop, and the AI bubble narrative is notably receding.

3. CATL raises listed price for energy storage cells on its online mall; first public listing price for 587Ah cells announced

Type: Market discussion

BOC International: It is expected that global new energy vehicle sales will maintain relatively rapid growth in 2026, driving demand for batteries and materials. On the energy storage front, demand remains at high prosperity levels, with a recommendation to focus on energy storage cells and large-scale storage integrators.

Announcement Digest

Positive Announcements

1. Tianchuang Fashion: Controlling shareholder plans to increase holdings by 150 million yuan to 300 million yuan.

2. Keda Industrial: Plans to invest 4.5 billion yuan to build a 500,000-ton per year integrated graphite anode material project.

3. Xinhua Winshare: Plans to acquire 100% equity of Sichuan Nationalities Publishing House for 346 million yuan.

Negative Announcements

1. Sun Cable: Shareholder Xiangyu Group and its concert parties plan to reduce holdings by up to 3% of shares.

2. Xiamen Tungsten: Has applied for arbitration with the Beijing Arbitration Commission regarding CMOC Group's cessation of tailings supply to Luoyang Yulu.

3. ST Yedao: Under investigation by the CSRC for suspected violations of information disclosure regulations.

Overseas Markets

Market note: With major technology leaders rallying collectively, all three major indices closed higher. Semiconductor chip stocks surged, with ARM rising over 17% — its biggest single-day gain since April last year; Intel jumped more than 12% — its largest gain since May; Meta climbed over 11% — its biggest single-day advance since April last year; and AMD gained approximately 10% to hit a new high, with its market capitalization surpassing $1 trillion for the first time.

This article is republished from Tencent Self-Selected Stocks. Edited by Zhi Tong Finance: Feng Qiuyi.