🌹On October 10, News Highlights
1. On October 9, the Ministry of Commerce and the General Administration of Customs jointly issued 4 announcements to implement export controls on 5 items, including superhard materials, rare earth equipment and raw materials, heavy rare earths such as holmium, lithium batteries, and artificial graphite anode materials.
2. The National Development and Reform Commission and the State Administration for Market Regulation issued an announcement (on the governance of price disorderly competition to maintain good market price order), releasing a clear signal to strive to maintain a fair and orderly competitive market environment. The announcement pointed out that price competition is one of the important ways of market competition, but disorderly competition can negatively impact industry development, product innovation, quality safety, and is detrimental to the healthy development of the national economy.
3. The Ministry of Commerce decided to include 14 foreign entities, including anti-drone technology companies and TechInsights and its branches, on the unreliable entity list, and to take measures to prohibit these entities from engaging in import and export activities related to China.
4. The Swedish Academy announced local time on October 9 that the 2025 Nobel Prize in Literature will be awarded to Hungarian writer László Krasznahorkai, in recognition of his captivating and visionary works, which once again prove the power of art amid the terror of the apocalypse.
5. Local time on October 9, senior Hamas official and chief negotiator Khalil al-Hayya announced a ceasefire agreement. The Israeli government approved the Gaza ceasefire agreement in the early hours of the 10th. According to the relevant content announced by the negotiating intermediaries, the agreement reached between Israel and the Palestinian Islamic Resistance Movement (Hamas) will facilitate the end of the war, the release of Israeli hostages and Palestinian prisoners, and the entry of humanitarian aid supplies into the Gaza Strip.
6. Yesterday, Dongfang Caifu Securities customer service pointed out that according to the exchange regulations, if the static price-earnings ratio of individual stocks exceeds 300 times, or is negative, the financing and securities lending conversion rate will be adjusted to zero. Both SMIC and BAW Storage had their financing conversion rates adjusted to zero.
7. On October 9, the Ministry of Industry and Information Technology and three other departments released an announcement regarding the exemption of vehicle purchase tax for new energy products from 2026 to 2027, adjusting the technical requirements for pure electric passenger vehicles and plug-in hybrid passenger vehicles (including range-extended). The most significant change is that the pure electric driving range for plug-in hybrid passenger vehicles (including range-extended) should meet the conditional equivalent all-electric range, adjusted from the previous 43 kilometers to no less than 100 kilometers.
8. China Settlement Shanghai Branch is working with the Shanghai Stock Exchange to promote the online issuance optimization of Shanghai ETF. This includes adding support for the conversion of subscription funds' interest into fund shares.
9. The spot silver price yesterday historically broke through $50/ounce for the first time, with the previous high at $49.79/ounce, created in April 2011.
10. The three major U.S. stock indices collectively closed down, with the Dow Jones falling by 0.52%, the Nasdaq down by 0.08%, and the S&P 500 index decreasing by 0.28%. The Nasdaq Golden Dragon China Index closed down by 2.03%, with most popular Chinese concept stocks declining.
