GMT EIGHT - OPPORTUNITIES IN CHINA

US Stock Market Move | Storage concept stocks rose before the market, with Micron Technology, Inc. (MU.US) rising more than 5%.

On Wednesday, storage concept stocks rose across the board before market opening, with Micron Technology (MU.US) rising more than 5%.

Wall Street Analyst: Sharp Drop Overdone, US Tech Stocks Fall into "Golden Pit"

Market professionals increasingly believe that software stocks that have experienced sharp declines in stock prices during the recent wave of overselling present new opportunities for buying at low prices.

The State-Owned Assets Supervision and Administration Commission of the State Council is promoting central enterprises to actively expand their computing power and make effective investments.

The State-owned Assets Supervision and Administration Commission of the State Council recently proposed that central enterprises should strengthen investment traction, actively expand computing power-effective investments, promote the coordinated development of "computing power + electricity", enhance the data governance capacity of the entire chain, and continuously consolidate the foundation of the artificial intelligence industry. According to reporters on the 11th, the State-owned Assets Supervision and Administration Commission of the State Council recently held a meeting to deepen the central enterprises' "AI+" special action. At this meeting, the State-owned Assets Supervision and Administration Commission of the State Council proposed that central enterprises should strengthen independent innovation, focus on breaking through key core technologies, continue to tackle the "Big Model" technology, promote more independent innovation results to evolve from samples into products, and form industries; they should also strengthen scenario cultivation, strengthen the precise connection between artificial intelligence and primary responsibilities, industry demands, and put more effort into high adaptability, high value, and high reliability, and promote the large-scale application of artificial intelligence on the ground. In addition, the State-owned Assets Supervision and Administration Commission of the State Council requires central enterprises to strengthen open-source collaboration, accelerate the iteration and upgrade of the open-source "Renewal Community", strive to become an "empowering enterprise", promote the construction of the "AI+" industry community, and continuously nurture a mutually beneficial and win-win industrial ecosystem. In recent years, the State-owned Assets Supervision and Administration Commission of the State Council has been fully promoting the "AI+" special action for central enterprises, pushing central enterprises to find the points of integration and breakthroughs with artificial intelligence technology and industry development trends, accelerate the landing of high-value application scenarios, steadily advance the co-construction and sharing of data sets, continuously improve the supply capacity of intelligent computing power, accelerate the construction of independently controllable models, and continuously improve the open-source and open industry ecosystem, achieving significant results in the development of the artificial intelligence industry.

DeepSeek grayscale testing on millions of tokens, with knowledge base updated to May 2025

Today, multiple users have provided feedback that after the update, DeepSeek has started gray testing with a maximum context length of 1M Tokens; the context length of DeepSeek V3.1 released in August last year has been expanded to 128K. At the same time, the knowledge base of the latest DeepSeek has been updated to May 2025, and it can accurately output news from April 2025 in offline mode.

National Health Commission and 11 other departments: standardize the dynamic adjustment mechanism, with the adjustment period generally not exceeding 3 years.

The State Health Commission and 11 other departments jointly issued the "Management Measures for the National Essential Medicines List" today. Compared with the original document, the "Management Measures for the National Essential Medicines List" clearly states that it will adjust the variety and quantity of essential medicines based on changes in disease spectrum, clinical application practices of drugs, changes in drug standards, and the introduction of new drugs, while adhering to the principle of emphasizing both traditional Chinese and Western medicine and prioritizing clinical use. It will comprehensively consider factors such as the basic medical and health service needs in China, the level of basic medical insurance coverage, and drug supply guarantee. It will standardize the dynamic adjustment mechanism, strengthen the functional positioning of essential medicines, adhere to regular evaluation and dynamic management, and adjust the cycle in principle not exceeding 3 years. If necessary, timely adjustments can be organized.

Southbound funds net purchased 4.816 billion Hong Kong dollars today.

In terms of the Hong Kong Stock Connect (Shanghai) program, SMIC and Tencent Holdings received a net buy of 445 million Hong Kong dollars and 230 million Hong Kong dollars respectively, while Xiaomi Corporation-W had the highest net sell amount of 274 million Hong Kong dollars. In terms of the Hong Kong Stock Connect (Shenzhen) program, Tencent Holdings and Zijin Gold International received a net buy of 505 million Hong Kong dollars and 191 million Hong Kong dollars respectively, while SMIC had the highest net sell amount of 836 million Hong Kong dollars.

In January, the domestic installed capacity of power batteries reached 42.0GWh, an increase of 8.4% year-on-year.

According to statistics from the China Automotive Power Battery Industry Innovation Alliance, in January, the total production of power and energy storage batteries in China was 168.0GWh, a decrease of 16.7% month-on-month and an increase of 55.9% year-on-year. In January, the total sales of power and energy storage batteries in China was 148.8GWh, a decrease of 25.4% month-on-month and an increase of 85.1% year-on-year. Among them, the sales of power batteries were 102.7GWh, accounting for 69.0% of the total sales, a decrease of 28.6% month-on-month and an increase of 63.2% year-on-year; the sales of energy storage batteries were 46.1GWh, accounting for 31.0% of total sales, a decrease of 17.0% month-on-month and an increase of 164.0% year-on-year. In January, the domestic installation volume of power batteries was 42.0GWh, a decrease of 57.2% month-on-month and an increase of 8.4% year-on-year. Among them, the installation volume of ternary batteries was 9.4GWh, accounting for 22.3% of the total installation volume, a decrease of 48.6% month-on-month and an increase of 9.6% year-on-year; the installation volume of lithium iron phosphate batteries was 32.7GWh, accounting for 77.7% of the total installation volume, a decrease of 59.1% month-on-month and an increase of 8.1% year-on-year.

Hong Kong Securities and Futures Commission introduces new measures to promote digital asset trading in Hong Kong and stimulate market vitality.

These targeted measures are aimed at enhancing market liquidity, and further demonstrate the firm commitment of the Hong Kong Securities and Futures Commission to developing the Hong Kong digital asset market in a sustainable and collaborative manner.

After the implementation of the Value-Added Tax Law, the preferential import tax policy will continue.

According to the Ministry of Finance, the Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation jointly issued a notice to ensure a smooth transition of import value-added tax preferential policies after the implementation of the "People's Republic of China Value-Added Tax Law." The current import value-added tax preferential policies will continue to be implemented. Among them, the value-added tax policies for anti-cancer drugs and rare disease drugs will be extended until the end of 2027. In addition, other preferential policies that have been implemented before the new law and have expiration dates after 2026 will also continue to be implemented according to the original regulations.

The Hong Kong Securities and Futures Commission has introduced new measures to promote digital asset trading in Hong Kong, in order to stimulate market activity.

The Securities and Futures Commission of Hong Kong has introduced new measures to promote digital asset trading in Hong Kong, in order to stimulate market activity.

Digital marketing service provider Cansince (KASH.US) plans to price its IPO at $5 per share, aiming to raise $15 million.

Cansince Innovations plans to issue 3 million shares of stock at a price of $5 per share, raising $15 million.

Lithium carbonate continuous main contract rose 6% intraday, now reported at 145920.00 yuan.

Another step closer to manned lunar landing! The successful maiden flight test mission of Long March 10 and Dreamboat spacecraft.

Today, the low-altitude demonstration verification of the Long March 10 carrier rocket system and the maximum dynamic pressure escape flight test of the Dreamboat manned spacecraft system were successful, marking an important milestone in China's manned lunar exploration project development.

The Chang'e-10 rocket hoists the Dream Chaser spacecraft, ignites the engine and lifts off.

Just now, the Long March-10 series rocket's first stage lifted the Dream Boat spacecraft and ignited to ascend into space.

MSCI Emerging Markets Stock Index hits historic high.

Office of Taiwan Affairs: The Democratic Progressive Party authorities are harming Taiwan's industrial prospects.

The State Council Taiwan Affairs Office held a routine press conference. A reporter asked about Taiwan Semiconductor's plan to mass produce related chips in Kumamoto Prefecture, Japan. In response, spokesperson Zhu Fenglian stated that the DPP authorities are pursuing their own political interests, harming Taiwan's industrial prospects, and deceiving the people of Taiwan.

National Bureau of Statistics interprets: Consumer Price Index (CPI) rose year-on-year in January, while the Producer Price Index (PPI) narrowed its year-on-year decline.

Dong Lijuan, Chief Statistician of the Urban Department of the National Bureau of Statistics, interprets the CPI and PPI data for January 2026.

Expectations of interest rate hikes by the Bank of Japan have reignited, with global stock markets facing the looming threat of the "sword of Damocles" hanging overhead: yen carry trades.

BCA Research warns that yen carry trades are like a "ticking time bomb". This trading strategy benefits from the higher "returns" brought by foreign investment, but if high-risk assets collapse or the yen rises, this strategy will fall apart.

The Powell Nomination Effect Cools Down? Traders Bet on the Federal Reserve Cutting Rates Only Two to Three Times This Year

Traders are betting that the Federal Reserve will cut interest rates two to three times this year, and demand for hawkish options is targeted at these scenarios.

Mixed feelings! Robinhood (HOOD.US) achieves record high total revenue in Q4 but is dragged down by cryptocurrency business. Predicting that the emerging market will support growth hopes.

Due to the sharp fluctuations in the digital asset market impacting cryptocurrency trading revenue, Robinhood, the American retail brokerage, reported fourth-quarter revenue that fell short of Wall Street expectations on Tuesday.

Unexpected tariffs bill dealt a heavy blow to fourth-quarter performance, Ford Motor Company (F.US) expects profits to hit rock bottom and bounce back strongly in 2026.

Ford Motor Company (F.US) reported its first lower-than-expected quarterly profit since 2024.

Inflation stubbornly refuses to retreat; two Fed voting members speak out: more inclined to maintain interest rates unchanged.

The two voting members added to the Federal Reserve this year stated on Tuesday, one after another, that they are currently more inclined to keep interest rates unchanged due to concerns about inflation prospects.

Overnight US stocks | The Dow hits another record high as "a lone bright spot", while Bitcoin falls below $70,000. Western Digital Corporation (WDC.US) drops more than 8%.

As of the close, the Dow rose 52.27 points, or 0.10%, to 50188.14 points; the Nasdaq fell 136.20 points, or 0.59%, to 23102.47 points; and the S&P 500 index fell 23.01 points, or 0.33%, to 6941.81 points.

Strategy (MSTR.US) founder Saylor "toughs out" the short: will not sell even if bitcoin falls 90%, will address debt pressure through refinancing.

Amid the continued sharp decline in the price of Bitcoin, Michael Saylor, founder and CEO of Strategy, publicly denied on Tuesday that the company would liquidate its holdings due to the decline in Bitcoin, and reiterated his confidence in the company's financing capabilities and the long-term value of Bitcoin.

Surprisingly Weak Retail Sales Data in December in the United States, US Treasury Bonds Continue to Rise, Expectations of Interest Rate Cuts Increase Again.

The unexpectedly weak US December retail sales data released on Tuesday weakened market confidence in US economic growth, driving US Treasury prices to continue rising and yields to further fall.

"K-shaped economy" significant differentiation! U.S. residents' credit card debt rises to $1.28 trillion, hitting a historical high.

According to the latest household debt report released by the New York Fed on Tuesday, in the fourth quarter of 2025, the balance of credit card debt in the United States increased by $44 billion to reach $1.28 trillion, hitting a new high, with a year-on-year growth rate of 5.5%.

Astrazeneca PLC Sponsored ADR(AZN.US) plans to take the "low price, high volume" route to enter the global weight loss drug market.

British pharmaceutical giant AstraZeneca is planning to enter the fiercely competitive and rapidly growing global weight loss drug market with a core strategy of "improving existing drugs + more competitive pricing + experience in emerging markets".

A-share evening hot spots | PBOC's heavyweight report! Continue to implement a moderately loose monetary policy well.

The Central Bank released the fourth quarter of 2025 report on the implementation of China's monetary policy. The report points out that the moderate loose monetary policy will continue to be implemented effectively.

Retail sales in the United States are lower than expected.

In December, retail sales in the United States recorded a monthly rate of 0%, lower than the forecast median of 0.4% and the previous value of 0.6%.

Selected A-share announcements | Hunan Silver (002716.SZ) faces a reduction of 28.23 million shares, accounting for 1% of the total share capital.

Hunan Silver (002716.SZ): Chenzhou Guokong reduces its holdings by 28.23 million shares, accounting for 1% of the company's total share capital.

Northbound funds | Northbound trading recorded a net purchase of 0.85 billion in Semiconductor Manufacturing International Corporation (00981). After-hours release of performance, Northbound funds rushed to increase their holdings by over 3 billion Hong Kong dollars.

On February 10th in the Hong Kong stock market, there was a net inflow of 85 million Hong Kong dollars from Northbound trading, with a net inflow of 1.103 billion Hong Kong dollars through the Shanghai-Hong Kong Stock Connect and a net outflow of 1.19 billion Hong Kong dollars through the Shenzhen-Hong Kong Stock Connect.

The National Copyright Administration and other four departments have launched a special campaign for protecting the copyright of cinema films.

As the Spring Festival approaches, several excellent films will be released in cinemas. In order to strengthen the protection of cinema film copyright, maintain a good copyright order in the film market, create a healthy and orderly viewing environment, and support the high-quality development of the film industry, the National Copyright Administration, the National Film Administration, the Ministry of Public Security, and the Ministry of Culture and Tourism have recently jointly deployed the "Sword Shadow" special action on cinema film copyright protection in 2026. The National Copyright Administration will, together with the National Film Administration, release a list of key works for copyright protection warnings. The four departments will increase offline inspections and online monitoring efforts, and crack down on illegal activities such as secret recording, illegal distribution, infringement, and piracy of IP derivative products in accordance with the law rigorously and swiftly. The relevant departments will also vigorously promote the transformation of film and television IP values and the integration and upgrading of industries, actively build an innovative service support system, strengthen copyright education, promote websites and platforms to fulfill their responsibilities, establish a sound copyright compliance governance system, and focus on enhancing respect for copyright. Consciousness, further maintaining a good copyright order in the film market.

Launch the preparatory work for listing on the main board of the Hong Kong Stock Exchange? Sinopharm Holdings declined to comment.

Recently, there have been rumors in the market that the global agricultural technology giant Syngenta Group has officially started preparations for listing on the main board of the Hong Kong Stock Exchange, with a fundraising scale of up to $10 billion, potentially becoming the largest IPO in Hong Kong stock market in 2026. On February 10th, when asked for confirmation by reporters, Syngenta declined to comment on the rumors. Syngenta stated: "We will continue to evaluate our capital market strategy based on market conditions and other factors that are in the best interests of our shareholders. The company has always indicated its intention to return to the capital market when the time is ripe."

Summary: The Shanghai Composite Index rose slightly by 0.13% on low volume, with the media sector collectively rallying.

The market fluctuated narrowly all day, with the three major stock indexes rising and falling unevenly, and the ChiNext Index rising nearly 1%. In terms of sectors, the media sector was strong throughout the day, with many stocks such as Hengdian Group, Shanghai Film, Bona Film, China Film, and Enlight Media hitting the limit up; humanoid robot concept stocks surged in the midday trading, with Wanxiang Qianchao hitting the limit up; the innovative pharmaceutical sector was active, with Wanbangde and Jihua Group hitting the limit up; on the downside, the precious metals sector fell, with Xiaocheng Technology and Hunan Gold leading the declines; the liquor sector collectively adjusted, with Huan Tai Liquor leading the declines; the commercial aerospace concept performed poorly, with Feiwo Technology, Shunhao Shares, and Western Materials falling sharply. Overall, most stocks in the two markets fell and fewer rose, with more than 3100 stocks falling. As of the close, the Shanghai Composite Index was at 4128.37 points, up 0.13%; the Shenzhen Component Index was at 14210.63 points, up 0.02%; and the ChiNext Index was at 3320.54 points, down 0.37%. On the market, the film and television distribution, short drama games, and cultural media sectors led the gains; while the precious metals, liquor, and diamond cultivation sectors led the declines.

TrendForce: It is expected that by 2026, the global shipment share of optical transceivers with a speed of 800G or higher will exceed 60%.

Google's new generation Ironwood cabinet system combines 3D Torus network topology and Apollo OCS all-optical network to achieve a high-speed interconnect architecture. It is expected to increase the global shipment share of high-speed optical transceiver modules above 800G to over 60% by 2026 and gradually become the standard equipment for AI data centers.

In January, TSMC's sales revenue reached 401.26 billion NT dollars, a year-on-year increase of 36.8%.

As the next round of chip tariffs is about to be announced, Trump wants to stabilize AI investments or exempt American tech giants.

The U.S. government plans to exempt major technology companies such as Microsoft and Google from chip tariffs in the next round of trade policies.

After serving for 13 years, a core executive of Tesla, Inc. (TSLA.US) resigned, causing the company to be deeply embroiled in a triple crisis of sales, brand and leadership.

Rajeev Jayaraman, a senior executive who has been with Tesla for 13 years, officially announced his resignation on Monday.

Involving 316 commonly used medications! Bidding for the follow-up procurement of the 1st to 8th batch of nationally centralized drug purchases.

On February 10th, the reporter learned from the National Medical Insurance Administration that the new round of continued procurement of 1st to 8th batches of nationally centralized procurement drugs has resulted in tentative selection results, involving 316 commonly used drugs. 4163 products from 1020 companies have been granted tentative selection qualifications. The drugs in this round of continued procurement cover 26 treatment areas including anti-infection, anti-tumor, lowering blood sugar, lowering blood pressure, lowering blood lipids, nervous system, respiratory system, digestive system, etc.

The key catalyst for the long bull market in US stocks is about to come! Giants such as SpaceX and OpenAI are ready to make moves, and Goldman Sachs is betting that 2026 will be a big year for IPOs.

The US IPO market is expected to rebound significantly this year, thanks to a solid economic environment, growing board confidence, and supportive monetary policies. It is anticipated that by 2026, fundraising scale will reach $160 billion, with the number of transactions expected to increase to 120, almost doubling last year's transaction volume.

"AI Leading First" triggers Hong Kong stock market speculation, with Haitian Technology (02706) receiving over 3300 times oversubscription for financing subscription.

Haitchi Technology's fundraising subscription multiple has exceeded 3300 times, and the expected subscription multiple is over 5600 times, with a fundraising subscription amount exceeding HK$262 billion.

The first APEC Senior Officials' Meeting in 2026 will be held in Guangzhou.

The first senior officials' meeting of the Asia-Pacific Economic Cooperation (APEC) in 2026 opened this morning in Guangzhou. This meeting focuses on the main theme of the 2026 APEC meeting "Building an Asia-Pacific Community, Promoting Common Prosperity" and the three priority areas of "Openness, Innovation, and Cooperation", fully launching cooperation in various fields and mechanisms, and discussing specific cooperation in depth to accumulate achievements for the informal leaders' meeting in November. This year marks the third time China has hosted the APEC summit. The senior officials' meeting is the main channel for promoting APEC cooperation and preparing for the leaders' meeting. Currently, the preparations for the 2026 APEC meeting have been fully launched, and all work is progressing smoothly.

The era of CPO has begun! The bull market drama of "AI super mega stock" Lumentum (LITE.US) is far from over.

This American-based leader in photomodule technology can be considered as one of the "strongest beneficiaries" in the potential long-term showdown between "Google TPU vs Nvidia GPU".

New Stock News | VandaTech Files Application to Hong Kong Stock Exchange

According to the disclosure on February 9 by the Hong Kong Stock Exchange, Weidali Technology Co., Ltd. (referred to as Weidali Technology) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation and Deutsche Bank serving as its joint sponsors.

Google's parent company Alphabet issued US dollar bonds, attracting a demand for subscriptions exceeding 100 billion dollars.

New York Fed Consumer Survey: Short-term inflation expectations decline, deteriorating views on financial conditions.

According to the consumer expectations survey from the New York Fed, consumers' expectations for the future one-year inflation rate in January dropped to 3.09%, down from 3.42% the previous month. According to the report: the median of inflation uncertainty decreased over a one-year and three-year horizon, but increased over a five-year horizon. Respondents' perceptions of their current financial situation worsened, with an increased proportion believing that their family's situation had deteriorated compared to a year ago. For the next year, consumers expect gasoline prices to rise by 2.8%, food prices to rise by 5.74%, medical costs to rise by 9.8%, college education costs to rise by 9.03%, and rental prices to rise by 6.82%.

Ministry of Agriculture and Rural Affairs: Vigorously cultivate leading agricultural science and technology enterprises and smooth channels for the transformation of agricultural scientific and technological achievements.

The Ministry of Agriculture and Rural Affairs held a meeting of the Technology Innovation Leadership Group on the 9th. The meeting emphasized the need to focus on accelerating the modernization of agriculture and rural areas and the construction of a strong agricultural country, further strengthen the strategic, forward-looking, and systematic layout of agricultural basic research, promote breakthroughs in key core technologies such as artificial intelligence and bio-manufacturing in agriculture, accelerate the resolution of technological challenges for high-quality agricultural development, and stimulate new productive forces in agriculture. It is necessary to promote the deep integration of scientific and industrial innovation, vigorously cultivate leading agricultural science and technology enterprises, accelerate the implementation of the "hundred-thousand-ten thousand" program for the cultivation of agricultural science and technology enterprises, and enhance the overall innovation capabilities of enterprises. It is important to smooth the channels for the transformation of agricultural scientific and technological achievements, build a unified model of agricultural scientific research organizations integrating production, education, research, and application, implement large-scale application actions for new agricultural technologies, products, and scenarios, strengthen the leading role of public welfare agricultural technology extension agencies, innovate diversified agricultural technology extension service models, clear the "last-mile" for the application of research results, and promote the integration and efficiency improvement of good fields, good seeds, good opportunities, and good methods. It is necessary to deepen the reform of agricultural research institutions, optimize and improve the layout of organizations, talents, disciplines, and other strengths, and fully stimulate innovation and creativity. It is important to strengthen monitoring and supervision of agricultural science and technology innovation and improve the overall efficiency of the agricultural science and technology innovation system.

Intend to carry out the evaluation work of third-party institutions for satellite network domestic coordination. The State Radio Regulatory Office publicly seeks opinions.

The State Radio Administration issued a notice stating that in order to implement the requirements of the "Administrative Measures for Domestic Coordination of Satellite Networks" regarding the establishment of a third-party evaluation mechanism for domestic coordination of satellite networks, and to further enhance the efficiency of domestic coordination of satellite networks, the State Radio Administration has conducted research and drafted a "Notice on Conducting Third-Party Evaluation of Domestic Coordination of Satellite Networks". Public opinions are now being solicited.

Notice released by the Shanghai Futures Exchange regarding the work arrangements for the 2026 Spring Festival period.

Starting from the settlement on February 12, 2026, the trading margin ratio and the daily price limit range for the following contracts have been adjusted as follows: For copper, aluminum, zinc, lead, and aluminum oxide futures contracts, the daily price limit range has been adjusted to 13%, the hedged position trading margin ratio to 14%, and the general position trading margin ratio to 15%; for nickel and tin futures contracts, the daily price limit range has been adjusted to 15%, the hedged position trading margin ratio to 16%, and the general position trading margin ratio to 17%; for gold futures contracts, the daily price limit range has been adjusted to 20%, the hedged position trading margin ratio to 21%, and the general position trading margin ratio to 22%; for silver futures contracts, the daily price limit range has been adjusted to 25%, the hedged position trading margin ratio to 26%, and the general position trading margin ratio to 27%.

The Inter-Ministerial Joint Office for Coordinated Supervision of New Modes of Transportation held a meeting with Didi Chuxing.

Recently, the Office of the Inter-Ministry Joint Meeting for Coordinated Supervision of New Business Formats in Transportation organized a talk with Didi Chuxing. The talk pointed out the prominent issues such as inadequate management of cooperation with online ride-hailing platforms, lowering prices, and improper emergency response by Didi Chuxing. Didi Chuxing was requested to immediately implement the requirements of the talk, deeply reflect on the issues, take targeted measures, ensure comprehensive rectification, and effectively protect the legitimate rights and interests of the driver groups.

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4 m ago

WTI crude oil fell below $63 per barrel, rising 0.91% intraday.

4 m ago

The Dow fell 0.13%, the Nasdaq fell 0.16%, and the S&P 500 closed flat. Among the top trading stocks, NVIDIA rose 0.8%, Tesla rose 0.72%, Micron Technology rose 9.94%, and Microsoft fell 2.15%.

9 m ago

Federal Reserve Milan: Increasing supply by improving productivity and relaxing regulations can expand output, thereby helping to reduce inflation.

10 m ago

Federal Reserve Milan: Policy decisions later this year will depend on the actions of the President and the Senate.

13 m ago

Morgan Stanley has increased the Chief Executive Officer's compensation from $34 million to $45 million.

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