GMT EIGHT - OPPORTUNITIES IN CHINA

US Stock Market Move | Large bank stocks decline; JPMorgan (JPM.US) falls 3.7%

U.S. large bank stocks extend their decline

US Stock Market Move | Greenland agreement imminent, Greenland Mines (GRML.US) surges over 50%

On Tuesday, Greenland Mines (GRML.US) extended yesterday's gains, with the increase narrowing to 50% as of press time.

Samsung's HBM4 ramp-up accelerates! Bernstein expects Q3 HBM revenue to surge 72% quarter-over-quarter, with memory market momentum continuing to heat up.

Bernstein's latest South Korea memory chip export tracking report shows that in August, South Korea's high-bandwidth memory (HBM)-related exports continued to maintain strong growth, with Samsung Electronics' HBM4 ramp-up momentum particularly prominent.

US Stock Market Move | Title context: Partnering with Meta to Launch AI Shopping, Shopify (SHOP.US) Rises Nearly 14% in Two Days Text: Partnering with Meta to Launch AI Shopping, Shopify (SHOP.US) Rises Nearly 14% in Two Days

Partnering with Meta to Launch AI Shopping, Shopify (SHOP.US) Rises Nearly 14% in Two Days On Tuesday, Shopify (SHOP.US) continued to rise, up about 7% as of press time, gaining nearly 14% over two days.

XUNLONG SCITECH (06715) will distribute an interim dividend of HK$0.8706 per share on November 11.

XUNLONG SCITECH (06715) has announced that it will distribute an interim dividend of HK$0.8706 per share for the first half of 2026 on November 11, 2026.

US Stock Market Move | Cloud computing service providers' stock prices rise; NEBIUS (NBIS.US) gains over 5%.

On Tuesday, U.S. cloud computing service providers' stock prices rose, with NEBIUS (NBIS.US) gaining over 5%.

A $10 trillion new track? Bernstein is bullish on the long-term potential of prediction markets as Robinhood (HOOD.US) and Coinbase (COIN.US) accelerate their expansion.

Wall Street investment bank Bernstein said that the rapidly rising prediction market may be far more than just another form of traditional sports betting, and is expected to develop into a new financial market infrastructure.

CIRC (01763): China Isotope & Radiation Corporation's subsidiary CNNC High Tech's Lu-177 DMF successfully passed U.S. FDA filing.

China Isotope & Radiation Corporation (01763) announced that recently, its subsidiary Chengdu CNNC High Tech Isotope Co., Ltd. (CNNC High Tech) received a confirmation letter from the U.S. Food and Drug Administration (FDA). The previously submitted Lu-177 API DMF file has successfully passed review, marking that CNNC High Tech's Lu-177 API DMF file has been recognized by the FDA and the DMF number has been successfully activated, qualifying it to be referenced by downstream formulation manufacturers. This is an important step for CNNC High Tech in advancing its international layout in the field of key raw materials for radiopharmaceuticals.

US Stock Market Move | Memory concept stocks rallied in early trading; SanDisk (SNDK.US) rose over 7%, with its market value hitting a 2-month high.

On Tuesday, US memory concept stocks rallied in early trading, with SanDisk (SNDK.US) rising over 7%, hitting a new high since early July.

US Stock Market Move | Weight-loss drug data success ignites stock price, Viking Therapeutics (VKTX.US) soars over 30%.

On Tuesday, Viking Therapeutics (VKTX.US) opened higher and continued to climb, surging over 30% as of press time.

US Stock Market Move | Hangzhou Yunqi Conference signals clear AI expansion, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rises over 3%.

On Tuesday, Alibaba (BABA.US) opened higher and, as of press time, was up over 3%.

In Q2, cloud providers' revenue and backlog both hit record highs; Bernstein is bullish on Amazon and Microsoft, while CoreWeave's revenue doubled but it is still viewed bearishly.

Investment bank Bernstein believes that cloud market demand still far exceeds supply, with the bottleneck having shifted from GPU supply to the physical capacity of data centers that can be powered up, while the returns on massive capital expenditures and their financing methods are becoming the new deciding factors.

Rising interest rates are "strangling" small-cap stocks, and the Russell 2000's outperformance over the S&P 500 has shrunk to just 2 percentage points. Is capital about to return to concentrated AI trades?

For most of this year, U.S. small-cap stocks were an important destination for investors looking to diversify away from concentrated AI trades. But now, rising interest rates are putting a question mark over that strategy.

JINXUN RESOURCE (03636) will distribute an interim dividend of RMB 0.3 per share on November 30.

JINXUN RESOURCE (03636) announced that it will distribute an interim dividend of RMB 0.3 per share on November 30, 2026.

As AI Ignites a Semiconductor Expansion Frenzy, Is EuropeHome to a Lithography GiantFalling Seriously Behind? ASML: Zero Sales in Europe in Q2

The EU is carrying out a comprehensive overhaul of its Chips Act, which was aimed at increasing the continent's share of global chip production but has largely failed to spur investment in new chip plants.

Hong Kong Development Bureau: Hong Kong will continue to lead supply, establish land reserves, and accelerate and enhance the efficiency of the Northern Metropolis development.

On September 22, regarding the policy measures of the Development Bureau in the "Hong Kong's First Five-Year Plan" and the "2026 Policy Address," the Secretary for Development of Hong Kong, Ning Hanhao, delivered an opening speech.

Oil prices fall for a fifth straight session to a two-week low: Iran reportedly proposes reopening the Strait of Hormuz, Saudi Arabia restarts a key pipeline.

On Tuesday, international oil prices fell sharply for a fifth consecutive session, hitting a two-week low. The market is digesting diplomatic rumors that Iran may reopen the Strait of Hormuz, as well as news that Saudi Arabia's key East-West pipeline has restarted.

ADP Weekly Employment Report: In the four weeks ending September 5, 2026, private-sector employers added an average of 20,000 jobs per week.

Preview of US Stock Market | The three major stock index futures are mixed, Brent crude falls below $100, Meta (META.US) 2026 Developer Conference to kick off this week.

On Tuesday, September 22, before the U.S. stock market opened, the three major U.S. stock index futures were mixed.

JENSCARE-B(09877): JensClip obtains NMPA registration approval and actively promotes commercialization

Jenscare-B (09877) announced that recently, JensClip Transcatheter Valve Repair System (JensClip), one of the Company's core self-developed products, has obtained registration approval from the National Medical Products Administration (NMPA). The Company is actively promoting the commercialization and clinical application of this product in mainland China and other markets, and continues to advance its global layout.

A-Share Announcement Highlights | Super Integration in the Securities Industry! CICC (601995.SH) "Three-in-One" Merger Completed, Stock Resumes Trading

CICC announced that it has published the results of the exercise of the acquisition request right by dissenting A-share shareholders in the major asset restructuring project involving a share swap merger, and the company's A-share stock will resume trading from the market open on September 23, 2026.

EDVANCE INTL (01410) subsidiary and CWG plan to jointly develop an integrated agentic AI platform RealRelay.ai, providing vertical-domain AI agents.

Edvance Intl (01410) announced a strategic cooperation agreement for the joint development and operation of an agentic AI platform and the establishment of the platform business in Singapore. The Company's indirectly wholly-owned subsidiary incorporated in Singapore, Paradise Matrix Pte. Ltd. (Paradise Matrix), has engaged a service provider incorporated in Singapore, CWG Innovations Pte. Ltd. (CWG), to jointly develop with the Group an integrated agentic AI platform RealRelay.ai (the Platform). The Platform is intended to offer, through a subscription model, multiple AI agents specialized for the cybersecurity vertical domain.

Luxury sector earnings expectations are "too optimistic"! Within a month, multiple major banks have turned collectively bearish, and luxury stocks are heading for their worst year since 2008.

RBC downgraded LVMH and Burberry to "market perform," saying luxury earnings expectations are too optimistic; the sector has fallen 15% this year, its worst performance since 2008.

SOMERLEY CAP (08439) Issues Positive Profit Alert, Expects Interim Profit to Increase to Not Less Than HK$2.5 Million

Somerley Capital (08439) announces that the Group expects its profit after tax for the six months ended 30 September 2026 to increase to not less than HK$2.5 million (2025: approximately HK$0.2 million). The expected increase in profit is primarily driven by an anticipated increase in revenue of not less than HK$5 million, continuing the growth momentum of corporate finance activities from the end of the previous financial year. This growth is partially offset by an expected increase of approximately HK$3 million in total employee benefit costs for the six months ended 30 September 2026, mainly due to higher bonuses associated with the increase in revenue.

NVIDIA Corporation (NVDA.US) stock price flashes a "warning signal": valuation falls to its lowest in more than a decade, what is the market worried about?

NVIDIA's stock is sending a warning signal about whether its profit growth can be sustained. But the paradox is that this signal does not come from the company's performance itself, but from the way the market is pricing it.

The Chinese General Chamber of Commerce of Hong Kong welcomes the RCEP's commencement of Hong Kong's accession procedure. Jonathan Choi: Joining the RCEP can drive mutually beneficial and win-win outcomes for the region.

Jonathan Choi, Standing Committee member of the National Committee of the Chinese People's Political Consultative Conference and President of the Chinese General Chamber of Commerce, believes that Hong Kong's accession to the RCEP will not only benefit its own economic development, but also drive mutually beneficial and win-win outcomes for the region.

HOPSON DEV HOLD (00754) total contracted sales for the first eight months amounted to approximately RMB 4.492 billion.

Hopson Development Holdings (00754) announced that for the eight months ended 31 August 2026, the total contracted sales of the Group together with its joint ventures and associates amounted to approximately RMB 4.492 billion; of which contracted property sales amounted to approximately RMB 3.909 billion; and contracted decoration sales amounted to approximately RMB 583 million.

AOM INT'L (00381) Plans to Establish a Joint Venture to Enter the Huge Market for Medical-Grade Out-of-Hospital Follow-Up and Digital Health Services

AOM INT'L (00381) announced that on September 22, 2026, the Company entered into a memorandum of understanding with Winwin Life Group Limited (the joint venture partner), a company incorporated in Hong Kong, in relation to the establishment of a new joint venture company in Hong Kong by the Company (or its designated subsidiary) and the joint venture partner (or its designated subsidiary). The principal businesses of the joint venture company will include the joint venture partner's anti-aging consumer products, AI rings, and health data operations, which will be reintegrated with the Group's existing businesses to form a new business model, with the joint venture partner's team managing the supply chain, channels, and operations in a unified manner.

TIME WATCH (02033) issues a profit warning, expecting an annual loss attributable to shareholders of approximately HK$80 million to approximately HK$83 million, an increase year-on-year.

TIME WATCH (02033) issued an announcement that the Group expects a loss attributable to owners of the Company for the 2026 financial year of approximately HK$80 million to approximately HK$83 million, compared to a loss attributable to owners of the Company of approximately HK$17.5 million for the year ended 30 June 2025.

NANHUA FUTURES (02691) plans to increase the capital of its wholly-owned subsidiary Nanhua Capital by RMB 150 million using its own funds.

NANHUA FUTURES (02691) announced that the company plans to increase the capital of its wholly-owned subsidiary Nanhua Capital by RMB 150 million using its own funds. Upon completion of this matter, the registered capital of Nanhua Capital will increase from RMB 600 million to RMB 750 million, and the company's equity interest in Nanhua Capital will remain 100.00%.

Northbound funds | Northbound trading recorded a net buy of 12.691 billion. Northbound funds continued to add positions in AI hardware and large models, increasing holdings in TRACKER FUND OF HONG KONG (02800) by nearly HK$2.7 billion throughout the day.

On September 22 in the Hong Kong stock market, northbound trading recorded a net buy of HK$12.691 billion. Of this, Hong Kong Stock Connect (Shanghai) recorded a net buy of HK$8.712 billion, and Hong Kong Stock Connect (Shenzhen) recorded a net buy of HK$3.979 billion.

CDB LEASING (01606) enters into a power battery purchase and sale framework agreement.

CDB LEASING (01606) announced that the Company, as buyer, entered into a power battery purchase and sale framework agreement with the seller on September 22, 2026. The seller agreed to sell and the buyer agreed to purchase the subject matter of the procurement, with a total consideration of approximately RMB 461 million (this transaction).

Southbound capital recorded a significant net buy of RMB 12.691 billion today. On the Hong Kong Stock Connect (Shanghai) side, Tracker Fund of Hong Kong and Alibaba-W saw net buys of HKD 2.677 billion and HKD 732 million, respectively; Tencent Holdings topped net sells at HKD 2.238 billion; on the Hong Kong Stock Connect (Shenzhen) side, Tencent Holdings and Zhipu saw net buys of HKD 2.083 billion and HKD 387 million, respectively; China National Offshore Oil Corporation topped net sells at HKD 454 million.

Farewell to the real estate label, Dexiang (00199) adopts the new abbreviation "Dexiang New Cloud Computing"

Zhito Finance APP News: Dexiang Real Estate (00199) announced that its stock abbreviation will officially be updated to "Dexiang New Cloud Computing" on September 25. This renaming is intended to shed its real estate label and align with the company's strategic positioning as it transforms into an AI infrastructure platform.

HANSOH PHARMA (03692): Injection of Reconnective Votutamab (HS-20093) for the treatment of osteosarcoma included in the priority review and approval process of the National Medical Products Administration

HANSOH PHARMA (03692) announced that on September 14, 2026, based on the positive results of the pivotal Phase III trial ARTEMIS-011 of HS-20093 for injection (reconnective votutamab for injection) (the Product), the indication of the Product for the treatment of osteosarcoma patients aged 12 years who have failed at least two prior lines of therapy has been included in the priority review and approval process of China's National Medical Products Administration (NMPA).

Hong Kong Property: First 8 months see 809 registrations for second-hand public housing in Hong Kong, up about 16.2% year-on-year

In the first eight months of this year, Hong Kong recorded 809 registrations for second-hand public housing, an increase of about 16.2% compared with 696 in the same period last year, marking the second-highest level for the same period since records began.

The end of AI is electricity, and behind electricity is copper! The "Big Short" bets on the resource gap behind the AI computing power frenzy.

Burry separately assessed the investment value of leading companies related to AI infrastructure and the resource demand brought about by AI buildouthe remains firmly skeptical about the investment returns of some AI stocks, while bullish on the copper resources needed over the long term for the expansion of data centers, power grids, and distribution systems.

SAM WOO CONS (03822) awarded construction engineering contract

SAM WOO CONS (03822) announced that the Group has recently been awarded a construction engineering contract to undertake foundation works for a project located in the Northern Metropolis. The contract sum (including any contingent sums and/or provisional contract amounts) is expected to be not more than HK$200 million, with the final amount subject to actual quantities of work performed. The works are expected to be completed in the first half of 2027.

Fitch: Hong Kong's Northern Metropolis plan of over HK$320 billion puts upward pressure on leverage of government-related entities.

Fitch Ratings said in a report that the development of Hong Kong's Northern Metropolis poses a test for government-related entities (GREs).

The RWA wave is coming! Stock assets are poised for on-chain deployment as Bernstein identifies five key investment plays.

The global stock tokenization market has grown from about $700 million at the end of 2025 to $3 billion, but relative to the over $100 trillion global stock market, it is still at a very early stage.

A-share Market Close Review | Indices opened high and closed low, AI and pharmaceuticals led gains

On September 22, the three major A-share indices opened high and closed low, with mixed gains and losses. The Shanghai Composite Index edged up slightly, while the Shenzhen Component Index and ChiNext Index closed roughly flat. The BSE 50 led the decline, and across the Shanghai and Shenzhen markets, more stocks fell than rose.

The Ministry of Commerce and four other departments adjusted the "Catalog of Precursor Chemicals for Export to Specific Countries (Regions)".

The Ministry of Commerce, the Ministry of Public Security, the Ministry of Emergency Management, the General Administration of Customs, and the National Medical Products Administration have decided to adjust the "Catalog of Precursor Chemicals for Export to Specific Countries (Regions)".

Ministry of Finance: In August, lottery sales nationwide totaled 63.985 billion yuan, up 19.8% year on year.

On September 22, the Ministry of Finance announced the national lottery sales for August.

The "15th Five-Year Plan" for the development of the light industry and textile industry is released: striving to push the operating revenue of enterprises above designated size past 30 trillion yuan by 2030.

On September 22, the Ministry of Industry and Information Technology, the Ministry of Commerce, and the State Administration for Market Regulation issued the "15th Five-Year Plan for the Development of the Light Industry and Textile Industry."

300 MW, 70,000 Nvidia Chips: Armenia's Hrazdan Data Center Races to Become Europe's Largest Computing Cluster

Trump's deal with Nvidia turns Armenia into an unexpected AI hotspot.

John Velis, Americas macro strategist at BNY Mellon, said in a report that the Fed is expected to raise rates once more in December, but it is too early to be sure whether the Fed can deliver as many rate hikes in 2027 as the market has priced in. "The answer depends on how effective tightening policy can be under the current inflation shock." He said much depends on the situation in the Middle East, where visibility is low. "An easing of tensions, and the resulting drop in oil prices, could change the calculations of both the market and the Fed." But he added that tying the policy outlook to a situation that may worsen before it improves is not a sustainable approach.

RBA Governor: Unemployment rate needs to rise toward 5% to cool the labor market and thereby ease price pressures.

RBA Governor Bullock said the unemployment rate needs to rise toward 5% to ease inflation pressures, but declined to reveal her voting stance for next week; the market expects about a 90% probability of a rate hike.

A second wave of energy price hikes is looming! ECB's Lane warns: Eurozone inflation will be higher and more persistent.

ECB Chief Economist Philip Lane said a new wave of high energy prices means eurozone inflation will stay elevated longer than the ECB initially expected.

S&P: Hong Kong's first five-year plan opens new growth space for banking and insurance industries

Hong Kong's banks and insurance companies will find new business growth opportunities in the city's first five-year economic development plan, covering deeper involvement in the Chinese mainland market, innovation sectors, and more sophisticated risk solutions.

Trading Notice: National Day holiday approaches, Hong Kong stocks to close for one day on October 1.

As the National Day holiday approaches, Hong Kong stocks will be closed for one day on October 1 (Thursday) and resume normal trading on October 2 (Friday).

Latest

4 m ago

USD Bond Movement | Sino-Ocean Group SINOCE 3 03/27/33 price rises 2.602% to 3.450.

29 m ago

New York Fed System Open Market Account Manager Perli said the Fed's monetary policy control toolbox continues to be very effective. "We have maintained very strong rate control, kept reserves in the ample range, and our Treasury bill purchases have also run smoothly," Perli said. He also said the Fed's recent actions to add liquidity to the financial system, currently paused, were not a preset path, suggesting the Fed could buy Treasury bills again if it deems it necessary to boost market liquidity. He also said so-called reserve management purchases (RMP) of Treasury bills will be adjusted according to market liquidity needs.

31 m ago

Iraq's Oil Minister: Oil production from oil fields in the Kurdistan Region of Iraq is currently 200,000 barrels per day.

34 m ago

The Dow closed down 0.36%, the Nasdaq rose 0.45%, and the S&P 500 closed roughly flat. Among the stocks with the highest trading volume, Micron Technology rose 5%, SanDisk rose 6.82%, Nvidia rose 0.66%, and Meta Platforms fell 0.63%.

40 m ago

US billionaire and former Chelsea chairman Todd Boehly has secured backing from the US government and a Gulf billionaire with ties to the Trump family to bid for Lukoil's international assets. The Russian oil company's assets were put up for sale after it was sanctioned by the US last year. Its overseas assets were valued at $20 billion when they were written down in March, spanning oil and gas fields from Central Asia to Mexico, thousands of petrol stations and a vast European refining portfolio. People familiar with the matter said Boehly has been preparing for months, aiming to replace US private equity giant Carlyle, which had already agreed to acquire the assets. Boehly's consortium includes the US International Development Finance Corporation (DFC) and Sheikh Tahnoon, brother of the UAE president, with Qatar's Al-Hayat family also involved. The DFC is expected to hold around a 15 per cent stake in the new company. Boehly has yet to finalise a deal with Lukoil; the proposal is fairly advanced, but the extent of the talks among the parties is unclear.

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