October 2025

CITIC Securities posits that short-term variables influencing the yield curve trajectory may include equity market trends and policy signals, while long-term variables hinge on the validation of fundamental data robustness. The curve is anticipated to maintain a flattened profile in the near term, with a higher probability of a bull steepening scenario compared to bear […]

Huatai Securities believes that under the dual impetus of policy and industry synergy, unmanned logistics vehicles represented by Robotaxi and Robovan are approaching a commercial inflection point. The commercialization of Robotaxi is accelerating, with companies like Pony.ai and WeRide experiencing rapid growth in order volumes, indicating the global export potential of China’s solutions. Robovan has

Chip stocks outperformed the market for two consecutive days, with Nvidia leading the Dow Jones gains and reclaiming the top market capitalization position for the first time in over four months. Constellation Energy, a nuclear power stock, initially surged over 9% before reversing to losses. Wells Fargo rose up to 10% in after-hours trading, while

JPMorgan stated that this adjustment will take effect on June 20. Rheinmetall’s stock price has surged approximately threefold year-to-date, soaring 26% in May alone, driving its market value to nearly €87 billion. Against the backdrop of the ongoing Russia-Ukraine conflict and European nations reassessing defense budgets, defense companies have become the most direct beneficiaries. In

In the latest ¥2.6 trillion 10-year Japanese government bond (JGB) auction, the bid-to-cover ratio surged significantly to 3.66 from 2.54 last month, far exceeding the average level over the past year. Investors are closely watching Thursday’s 30-year bond auction, which will determine whether the market is prepared for the normalization pains following the Bank of

The Information suggests that Alibaba’s experience demonstrates Chinese companies’ potential to generate global impact by focusing on open-source AI models. Alibaba Group is taking a leading position in China’s open-source AI field, with its Qwen model surpassing Meta’s Llama in multiple benchmarks. From internal skepticism to comprehensive adoption, Alibaba’s market influence continues to expand. According

GF Strategy notes that after the April oversold rebound, the A-share market has entered a narrow-range fluctuation. Three key factors may serve as breakthrough catalysts. Regarding Sino-US relations, focus remains on the 20% fentanyl tariff and progress of the Section 232 investigation. In terms of incremental fiscal policy, maintaining the January-May net financing intensity would