[Today's headlines]
The Federal Reserve kept the benchmark interest rate unchanged as scheduled, and the two voting commissioners advocated raising interest rates by 25 basis points
In the early morning of Thursday (October 29), Beijing time, the Federal Reserve announced that it would keep the federal funds rate target range unchanged between 3.75% and 4%, in line with general market expectations. Last month, the Federal Reserve raised interest rates for the first time in more than three years, raising the federal funds rate target range by 25 basis points to 3.75% to 4%. The resolution was passed by a 10-2 vote. Governor Cook and Cleveland Federal Reserve Chairman Hammark insisted on raising interest rates by another 25 basis points. This is also the first time since Cook joined the Federal Reserve Board of Governors that he has voted against a monetary policy decision.
Federal Reserve Chairman Walsh announced adjustments to the interest rate mechanism at the press conference after the interest rate meeting, but he still did not give any clear signal about the interest rate hike path that the market is most concerned about.
J.P. Morgan Private Bank expects the Federal Reserve to raise interest rates in December and the first quarter of 2027.
[General outlook]
The Nasdaq China Golden Dragon Index fell 1.83%
Overnight, US stocks were up 97.53 points, or 0.19%, to close at 52475.1 points; the S&P 500 stock index rose 21.38 points, or 0.28%, to close at 7743.98 points; and the Nasdaq Composite Index rose 72.04 points to close at 26549.85 points, or 0.27%.
The “Big Seven Tech” had mixed ups and downs. Google-A rose 1.34%, Nvidia fell 1.17%, and Meta fell 1.24%. Microsoft rose 6% after the market. The memory chip and optical communication sectors continued to rise, strengthening for the third consecutive trading day. In terms of individual stocks, SK Hynix rose 13.30%, Micron Technology rose 5.86%, SanDisk rose 7.66%, AI cloud service companies strengthened, Oracle rose more than 10%, CoreWeave rose more than 7%, and NEBIUS rose nearly 7%.
The Nasdaq China Golden Dragon Index fell 1.83% to 5,400.39 points. Weighted stocks had mixed ups and downs, and the decline was concentrated on small to medium market capitalization targets. The Hang Seng Index ADR declined. On a pro rata basis, it closed at 23090.46 points, down 4.37 points or 0.02% from the Hong Kong closing.
WTI crude oil futures on the New York Mercantile Exchange rose by 2.04 US dollars in the same month to 101.94 US dollars per barrel, or 2.04%. COMEX gold futures rose $6.60 in the same month, or 0.16%, to $4081.2 per ounce.
[Hot Topics Preview]
Alphabet (GOOGL.US) Q3 cloud business revenue surged 103% year on year, free cash flow changed from positive to negative, and the stock price plummeted by more than 11%
The Zhitong Finance App learned that after US stocks closed on Wednesday, Google's parent company Alphabet (GOOGL.US, GOOG.US) announced financial results for the third quarter of 2026. After the earnings report was released, Google's stock price plummeted by more than 11% after the market. The data showed that net profit attributable to common shareholders was US$26.170 billion, down about 25% year on year; diluted earnings per share were US$2.12, down from US$2.87 in the same period last year, down about 26% year on year. In terms of cash flow, Alphabet's operating cash flow for the third quarter was US$42.290 billion, down from US$44.414 billion in the same period last year.
The net profit of CNPC shares (00857) in the first three quarters was 155.776 billion yuan, up 21.9% year on year
China Petroleum Corporation (00857) announced that in the first three quarters of 2026, in accordance with international financial reporting accounting standards, the Group achieved operating income of RMB 2321,064 billion, an increase of 7.0% over the previous year; net profit attributable to shareholders of the parent company was RMB 155.776 billion, an increase of 21.9% over the previous year. Basic earnings per share were $0.85.
The net profit of Sinopec Oil Service (01033) was about 711 million yuan in the first three quarters, up 6.2% year on year
In the first three quarters of 2026, the company continued to improve engineering technology service capabilities, strengthen win-win cooperation with oil companies, and steadily advance market development. The total amount of new contracts signed was RMB 83.95 billion, an increase of 2.1% over the previous year.
Junshi Biotech (01877): Treplimumab has received routine approval from the State Drug Administration for the treatment of locally advanced or metastatic urothelial cancer where platinum-containing chemotherapy fails
Junshi Biotech (01877) announced that recently, the company received the “Drug Supplement Application Approval Notice” approved and issued by the China Drug Administration (hereinafter referred to as the “State Drug Administration”), and approved the use of treprilizumab injection (trade name: Tuoyi®, product code: JS001) single drug for platinum-containing chemotherapy failure, including locally advanced or metastatic urothelial cancer progressing within 12 months, from conditional approval to routine approval.
The net profit of the League of Nations People's Livelihood (01456) in the first three quarters was about 2.08 billion yuan, an increase of 19.59% over the previous year
The League of Nations People's Livelihood (01456) announced results for the first three quarters of 2026, with operating income of about 6.739 billion yuan, up 11.61% year on year; net profit attributable to shareholders of listed companies was about 2.08 billion yuan, up 19.59% year on year; and basic earnings per share were 0.37 yuan.
Howell Group (00501) expects revenue of 7.759 billion yuan to 8.324 billion yuan in the fourth quarter, an increase of 9.71% to 17.71% year-on-year
Benefiting from the upgrading of the global automotive intelligence industry, the company maintained rapid growth in the field of intelligent driving; applications in emerging markets such as professional imaging, machine vision and robotics, and end-side AI continued to innovate, and new products such as automotive analog chips and high-speed analog electronic chips for optical communication were mass-produced and introduced. In the fourth quarter of 2026, the company expects the automobile business to continue to recover, the emerging markets and simulated automotive and optoelectronic businesses will continue to grow, the company's revenue is expected to grow in an orderly manner, and gross margin is expected to rise steadily.
Jiangxi Copper Co., Ltd. (00358) net profit of 11.687 billion yuan in the first three quarters increased 94.02% year-on-year
Jiangxi Copper Co., Ltd. (00358) announced that for the first three quarters of 2026, operating income was 442.42 billion yuan (RMB, same below), up 11.71% year on year; net profit attributable to shareholders of listed companies was 11.687 billion yuan, up 94.02% year on year; and basic earnings per share were 3.39 yuan.
Yasui Foods (02648) net profit of 1,142 million yuan in the first three quarters increased 20.27% year over year
In the 2026 three-quarter report, net profit without return to mother was 1.05 billion yuan, up 21.1% year on year; net operating cash flow was 1,746 billion yuan, up 63.2% year on year; EPS (fully diluted) was 3.4253 yuan.
Chipboard Micropack (09630)'s net profit for the first three quarters was about 461 million yuan, an increase of about 1.32 times over the previous year
Chipboard (09630) announced its results for the first three quarters of 2026, with operating income of about 1,781 billion yuan, an increase of 90.84%; net profit attributable to shareholders of listed companies was about 461 million yuan, an increase of about 1.32 times over the previous year; and basic earnings per share were 3.39 yuan.
CGN Power (01816)'s net profit for the first three quarters was about 9.603 billion yuan, an increase of 12.75% over the previous year
According to the announcement, the main reason for the increase in performance is that Huizhou Unit 1 and Unit 2 and Cangnan Unit 1 will be put into commercial operation in 2026.
COSCO Haineng (01138.HK)'s net profit for the first three quarters was about 7.389 billion yuan, up 171.9% year-on-year
According to the Zhitong Finance App, COSCO Haineng (01138.HK) announced results for the first three quarters of 2026, with revenue of about 25.243 billion yuan, up 47.03% year on year; net profit attributable to shareholders of listed companies was about 7.389 billion yuan, up 171.9% year on year; basic earnings per share were 1.3514 yuan.
New Oriental-S (09901) announced its first quarter results. Net profit attributable to shareholders of US$273 million increased 13.5% year-on-year
New Oriental-S (09901) announced results for the first quarter ended August 31, 2026. The group achieved net revenue of US$1,874 billion, an increase of 23.1%; net profit attributable to New Oriental shareholders of US$273 million, an increase of 13.5% over the previous year; and New Oriental's net profit per ADS — basically US$1.76.
Net profit of Sanhuan Group (06951) in the first three quarters was about 3.865 billion yuan, an increase of 97.35% over the previous year
During the reporting period, benefiting from increased customer recognition and increased industry sentiment, the company's product market demand increased, orders were full, the volume and price of some main products rose sharply, and revenue increased significantly over the same period last year. Note: The company's Q3 net profit was 19.33 billion and Q2 net profit was 1,141 million. Based on this calculation, Q3 net profit increased 69% month-on-month.
Zhaoyan Pharmaceutical (06127) achieved net profit of about 930 million yuan in the first three quarters, an increase of about 10.52 times over the previous year
The changes in performance are mainly due to the recovery in industry demand, the gradual improvement in revenue, and the double impact of increased gross profit and changes in the fair value of biological assets.
[Individual stock prices are clear]
Shanghai Fudan (01385) net profit of 1.06 billion yuan in the first three quarters increased 221.08% year-on-year
The company's third-quarter revenue was 1,338 million yuan, up 12.90% year on year; net profit attributable to shareholders of listed companies was 211 million yuan, up 54.63% year on year. Revenue for the first three quarters was RMB 3,564 billion, up 17.84% year on year; net profit attributable to shareholders of listed companies was RMB 1,060 million, up 221.08% year on year.
In the current period, sales and gross profit of the company's various product lines increased, earnings from changes in the fair value of shares held by strategic placement of listed companies increased, and losses due to falling inventory prices declined sharply, leading to an increase in overall profit.
Shanghai Fudan (01385.HK) issued an insider announcement. Foxin Van Gogh, the company's shareholder holding more than 5% of its shares, transferred its direct 106.73 million A-share shares to Guosheng Investment through an agreed transfer. The transfer price was 5.138 billion yuan. This change in equity will not result in a change in the controlling shareholder or actual controller of the company, and the company still has no controlling shareholder or actual controller.
Everbright Securities released a research report stating that considering the acceleration of domestic FPGA chip replacement and the accelerated development of the commercial aerospace and low-orbit satellite industry chain, the company's high-end FPGA and satellite communication-related products are expected to continue to benefit.