Evening highlights
1. Major differentiation in AI transactions in the global market: Hong Kong stocks and Chinese securities soared, and AI hardware and storage fell sharply
Importance: ★★★★★
On November 5, the global market was clearly divided around AI trading trends. In terms of A-shares, the Shanghai Index closed up 0.10% to 3689.91 points; the Hong Kong Hang Seng Index closed up 3.67%, and the Hang Seng Technology Index rose 5.55%, the biggest one-day increase since the end of February 2025. NetEase surged more than 9%.
US stocks opened on Thursday. The S&P 500 index opened 0.13% to 7678.72 points, the Dow Jones Industrial Average rose 0.61% to 53679.01 points, and the Nasdaq Composite Index opened 0.69% lower to 25558.11 points; the Nasdaq Golden Dragon China Index rose 2.5% and Alibaba rose 5%. The direction of AI hardware and storage declined collectively: Qualcomm opened 14% lower, and the pre-market decline widened to 12%, which is likely to be the biggest one-day decline since 2020; SanDisk, AMD, Seagate, Western Digital, and Micron fell by as much as 7.2%.
In the Asia-Pacific market, according to data from stockq.org, the Nikkei 225 Index closed down 1.79%, Korea's KOSPI Index closed down 5.28%, and the Philadelphia Semiconductor Index closed down 3.13%. According to Wall Street news, South Korea's finance minister said he was prepared to deal with increased financial market fluctuations; after the Democratic Party swept away in the midterm elections, the market's pricing for the AI boom changed dramatically.
2. Ministry of Commerce: Continued imposition of anti-dumping duties and countervailing duties on imported n-propanol originating in the United States
Importance: ★★★★
The Ministry of Commerce announced on November 5 that from November 6, 2026, anti-dumping duties will continue to be levied on imported n-propanol originating in the United States for a period of 5 years; starting November 6, 2026, countervailing duties will continue to be levied on imported n-propanol originating in the United States for a period of 5 years.
3. The Bank of England raised interest rates by 25 basis points to 4%, the first time in more than three years
Importance: ★★★
At 20:00 Beijing time on November 5, the Bank of England raised the benchmark interest rate by 25 basis points to 4% by an 8-1 vote. This is the first rate hike in more than three years. Member Mann advocated raising interest rates by 50 basis points. The Bank of England's core forecast shows that the CPI inflation rate will peak at 4.9% in the second quarter of next year, the highest level since September 2023. Governor Bailey said that unless the conflict in Iran ends, this is unlikely to be the last rate hike, and he will not agree with the statement “two rate hikes will end.” (According to Wall Street News)
4. Oil prices rebounded sharply: WTI rose 2.5% to break through $90, oil rose 3.0%
Importance: ★★★
On the evening of November 5, international oil prices rebounded. As of 11:10 Beijing time, WTI crude oil rose 2.5% to 90.3 US dollars/barrel during the day; Brent crude oil rose 3.0% to 97.63 US dollars/barrel during the day (intraday caliber). According to CCTV news, on November 5, local time, the Islamic Revolutionary Guard Corps Navy of Iran said that an “illegal” tanker caught fire when sailing in dangerous waters east of the Strait of Hormuz that morning and immediately stopped sailing.
5. Opening of the 9th CIIE, Ding Xuexiang attended the opening ceremony and delivered a keynote speech
Importance: ★★★
The 9th China International Import Expo and Hongqiao International Economic Forum opened in Shanghai on November 5. Ding Xuexiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended and delivered a keynote speech. (According to Xinhua News Agency)
6. Goldman Sachs and Apollo began selling SpaceX's share of about $40 billion in chip financing transactions
Importance: ★★★
According to Bloomberg, Goldman Sachs Group and Apollo Global Management are in negotiations with Wall Street investors to begin selling SpaceX's share of a chip financing transaction worth approximately US$40 billion. The debt financing package will be used to pay for approximately US$47.3 billion in GPU equipment purchases, or Nvidia's latest Rubin chips, which are scheduled to be delivered in the first half of 2027. The report mentioned that the deal structure is designed to keep debt outside of SpaceX's balance sheet and is the largest such financing arrangement for GPUs to date.
7. Many NASDAQ ETFs will be suspended for 1 hour from the opening of the market tomorrow
Importance: ★★★
On November 5, a number of popular funds announced that NASDAQ ETF E-Fangda and NASDAQ ETF GF will be suspended from the opening of the market on November 6, 2026. Trading will resume at 10:30 on the same day. Redemption business will continue as usual during the suspension period.
Looking ahead to opportunities
Zhitong Finance sorted out the most watched sectors and catalytic events of the day.
1. Low-altitude economy: Relevant officials of the Ministry of Industry and Information Technology said on November 5 that they will actively and steadily promote the safe development of the low-altitude equipment industry, focusing on unmanned, electrified, connected, and intelligent.
2. PCB: An explosion occurred in the early morning of November 4 at Taiwan's Panasonic Hsinchu Hukou factory, impacting the supply of high-grade ultra-low loss copper-clad panels for AI servers. The Shanghai Securities News interviewed industry insiders saying the impact on mainland PCB manufacturers was limited.
3. Robotics: The Ministry of Industry and Information Technology solicited public comments on the “Interim Measures on the Management of Robot Product Identification Codes (Draft for Comments)” on November 5.
4. Innovative drug: Beijing's first self-developed CAR-T cell drug was approved for marketing by the State Drug Administration; BeiGene's total global revenue in the third quarter was 1.9 billion US dollars, an increase of 34% over the previous year.
5. Lithium battery materials: Xingyuan Material Subsidiary signed a fixed-point agreement with a power battery subsidiary under Volkswagen Group to supply about 1,558 billion square meters of diaphragms from 2027 to 2034; Tianci Materials Subsidiary signed a long-term supply agreement for 450,000 tons of electrolyte with Everweft Lithium Energy.
Among them, the innovative drug sector is highly catalytically intensive. On November 5, Dongwu Securities released the research report “ESMO2026 - Sorting out China's Innovative Drug Pipeline” to systematically sort out the pipeline data of Chinese innovative drugs at the 2026 European Society of Medical Oncology Annual Meeting. The research report sorted out the latest clinical developments and data readings of Chinese innovative drug companies in the field of tumor treatment, and provided a reference for judging the global competitiveness of related pipelines.
Selected announcements
Positive announcements
1. Crystal integration: It is proposed to repurchase A-shares for 500 million yuan to 800 million yuan, with a repurchase price of no more than 37.00 yuan/share for employee stock ownership plans or equity incentives
2. Sanhuan Group: Repurchase 5.156,900 A-shares for the first time, with a total transaction amount of 400 million yuan
3. Joyson Electronics: Plans to repurchase shares for 150 million yuan to 300 million yuan and cancel them all. The repurchase price is no more than 30 yuan/share
4. Hongsheng Huayuan: The subsidiary became the winner of 26 tenders for the fifth time of the State Grid's 2026 power transmission and transformation project, with a bid amount of about 725 million yuan
5. Dayu Water Conservation: The consortium won the bid for the “Equity Investment+EPCO” project for the Xiahushan Reservoir Irrigation Area Project in Anqing City, with a total amount of about 2.144 billion yuan
Negative announcements
1. Fuchun Co., Ltd.: The actual controller, Miao Pinzhang, was prosecuted on suspicion of insider trading and is currently on bail awaiting trial
2. Muyuan Co., Ltd. sold 5.913 million commercial pigs in October, down 16.43% year on year; commercial pig sales revenue was 7.253 billion yuan, down 29.79% year on year
3. Baoxin Technology: The 4.5 million restricted shares held by the controlling shareholder were transferred due to a judicial auction, and the total shareholding ratio of the controlling shareholders and those acting in concert fell from 20.36% to 19.74%
4. Tianyong Intelligence: The controlling shareholder Ming Jia Investment plans to transfer 6% of the shares through an agreed transfer, with a total transfer price of 162 million yuan
What to see tomorrow
Tomorrow (November 6), follow: NASDAQ ETF E-Fangda, NASDAQ ETF Guangfa, etc. will resume trading 1 hour after the opening of the market.