Pre-market highlights: 1. The Financial Street Forum opens today, with Pan Gongsheng, Ding Xiangqun, Wu Qing, and Zhu Hexin scheduled to deliver keynote speeches. Category: Macro sentiment. Impact: Positive. The 2026 Financial Street Forum Annual Meeting will be held in Beijing's Financial Street from October 19 to 22. PBOC Governor Pan Gongsheng, Financial Regulatory Administration Director Ding Xiangqun, CSRC Chairman Wu Qing, and SAFE Administrator Zhu Hexin will attend and deliver keynote speeches. Additionally, on October 21, the CSRC will host a main forum focused on "Building First-Class Investment Institutions, Serving High-Quality Development of the Capital Market, and Sharing New Opportunities in Investing in China."
2. Real money to boost confidence! Led by Hygon Information Technology Co.,Ltd. (ASX: 688041) and Dawning Information Industry Co.,Ltd. (ASX: 603019), multiple companies disclose buyback matters. Category: Company sentiment. Impact: Positive. On the evening of October 18, several A-share companies including Shengyi Technology Co.,Ltd. (ASX: 600183), Hygon Information Technology Co.,Ltd. (ASX: 688041), and Dawning Information Industry Co.,Ltd. (ASX: 603019) released buyback and share increase plans, using real money to boost market confidence. Among them, the chairman of Shengyi Technology Co.,Ltd. (ASX: 600183) proposed a buyback of 200 million to 300 million yuan of company shares; the chairman of Hygon Information Technology Co.,Ltd. (ASX: 688041) proposed a buyback of 500 million to 800 million yuan; and the chairman of Dawning Information Industry Co.,Ltd. (ASX: 603019) proposed a buyback of 300 million to 500 million yuan of company shares.
3. A wave of tech stock selling swept through the US stock market again! Last Friday, the Nasdaq fell more than 2%, and the semiconductor index declined for eight consecutive days. Category: Market sentiment. Impact: Negative. Last Friday, a wave of tech stock selling swept through the US stock market again, with the Nasdaq falling more than 2%. Safe-haven funds continued to flow into defensive names such as pharmaceuticals and retail. CoreWeave, an emerging cloud service provider heavily backed by Nvidia, fell more than 11% on Friday, and the Philadelphia Semiconductor Index closed lower for the eighth consecutive trading day, marking its longest losing streak since 2008. This morning, South Korea's KOSPI index opened more than 3% lower. SK Hynix fell 4%, and Samsung Electronics dropped 3%.
4. State Council executive meeting: Continuously deepen and expand the "AI Plus" initiative, enabling AI technology to better translate into real productivity. Category: Industry sentiment. Impact: Positive. Last Friday evening, the State Council executive meeting heard a report on the progress of the "AI Plus" initiative. The meeting noted that the "AI Plus" initiative should be continuously deepened and expanded. It is necessary to highlight enabling applications, strengthen supply-demand alignment with a focus on the real economy, encourage joint research and development, advance pilot testing and validation, increase efforts in scenario cultivation, and enable AI technology to better translate into real productivity.
Investment calendar: The State Council Information Office will brief on economic conditions for the first three quarters.
Investment tip: I just wait until money is lying in the corner, and all I have to do is walk over and pick it up. — Jim Rogers.
Institutional views: 1. Founder Securities: The market is expected to build momentum for a rebound in the future, with attention on investment opportunities in new quality productive forces and value-balanced directions. 2. Shenwan Hongyuan: Signals that the short-term adjustment is in its final stage have already appeared, the market has already overshot to the downside, and a small-scale rebound can be expected. 3. CITIC Securities: Sentiment is sluggish, so stay lightly positioned and wait for opportunities, with key focus on sectors such as banks, utilities, and the AI industry chain.
Positive and negative outlook: 1. "Wishful" programming capabilities upgraded! DeepSeek launches: opens its self-developed search API. Category: Market discussion. Guotai Haitong: Software vendors that deeply engage in customers' core businesses, transform industry experience into reliable agent capabilities, and possess strong delivery capabilities are expected to benefit from upgrades to existing products and new demand for intelligent services, and AI applications are expected to shift from technology investment into enterprise revenue growth and profit improvement.
2. Orders and shipments already scheduled into next year! Apple's first foldable phone opens for pre-order. Category: Market discussion. Huaxi Securities: With Apple (NASDAQ: AAPL) releasing its first foldable phone, the per-unit value has surged compared with bar-type phones, and the foldable screen-related industry chain deserves key attention; in addition, affected by memory shortages, iPhone prices across the lineup have risen sharply, and domestic memory companies are expected to take on more spillover orders.
3. The National Data Group may be officially launched soon, marking a key step in the market-oriented reform of data elements. Category: Market discussion. Guolian Minsheng: The establishment of the National Data Group is expected to promote public data from fragmentation toward coordinated management and transform data resource advantages into AI industry advantages. Vendors with capabilities in data element operations, governance, and security are expected to benefit substantially.
Announcement brief: Positive announcements. 1. Victory Giant Technology: The actual controller proposed a buyback of 150 million to 300 million yuan of A-share shares. 2. Demingli: Expected net profit for the first three quarters of 8.65 billion yuan to 8.95 billion yuan, turning profitable year-on-year. 3. Hengtong Optic-Electric: Expected net profit for the first three quarters of 5.97 billion yuan to 6.37 billion yuan, a year-on-year increase of 151.27%-168.1%.
Negative announcements. 1. Lianmei Holding: The company and related shareholders received a notice of case filing from the CSRC. 2. Beijing Originwater: Company director Wei Yuan is suspected of serious violations of discipline and law and is under disciplinary review and supervisory investigation. 3. ST Jiayuan: Received a penalty decision from the CSRC and was fined 6 million yuan.
Overseas markets. Editor's note: The three major US stock indexes closed lower collectively last Friday, with the Dow down 0.34%, the Nasdaq down 2.14%, and the S&P 500 down 1.09%. Popular tech stocks generally fell, and the Philadelphia Semiconductor Index dropped 3.83%, its eighth consecutive trading day of declines. SanDisk, Western Digital, and SK Hynix each fell more than 6%.
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