The week of December 29 to January 4 features a lineup of significant financial events, all times are in Beijing Time. Key focuses for the upcoming week include: New Year holiday market closures for Chinese A-shares, US stocks, and commodity exchanges, alongside PMI data from both China and the US. The Federal Reserve's monetary policy meeting minutes will be released, a potential announcement regarding the new Fed Chair is anticipated, and Warren Buffett is set to officially step down as CEO of Berkshire Hathaway. BIREN TECH, dubbed "HK's first GPU stock," and 51WORLD, the "first Physical AI stock," are scheduled to list. Furthermore, SDIC Silver LOF has once again tightened subscription restrictions following sharp price fluctuations in the secondary market. The "Fujian Province Regulations on Promoting Common Standards Across the Strait" will take effect on January 1. A fierce "wave of price increases" is sweeping through industries, with numerous paper manufacturers announcing price hikes.
On December 31, China will release its official manufacturing PMI data for December. Following November's manufacturing PMI of 49.2, which indicated a contraction, markets are watching to see if year-end business sentiment can improve further. Institutions like CITIC Securities anticipate that, supported by policies, the manufacturing PMI may continue its slight upward trend. Key aspects to watch include the recovery in domestic demand reflected by the new orders index and the performance disparities among enterprises of different sizes.
On Friday, January 2, the US S&P Global Manufacturing PMI for December will be released. Additionally, on Monday, December 29, the US Pending Home Sales Index for November will be published, followed by the weekly Initial Jobless Claims for the period ending December 27 on Wednesday, December 31.
The minutes from the Federal Reserve's December policy meeting are scheduled for release on Tuesday, December 30. Markets expect these minutes will continue to reveal the "strong divergence" among Fed officials regarding the near-term policy path. The October minutes indicated that "a majority" of officials believed further rate cuts might be appropriate, while "several" thought another 25-basis-point cut in December might not be suitable.
Reportedly, US President Trump may designate the new Federal Reserve Chair during the first week of January. Leading candidates to succeed Powell include White House economic adviser Hassett, former Fed Governor Warsh, as well as current Fed Governors Waller and Bowman. Powell's four-year term as Chair is set to expire in May 2026. This event remains uncertain, with a high possibility of a delayed announcement.
At the Berkshire Hathaway annual shareholders meeting in May, Warren Buffett announced he would step down as CEO at the end of 2025. Vice Chairman Greg Abel is scheduled to assume the role starting January 1, 2026. Buffett will continue to serve as Chairman of the Board.
The New Year holiday runs from January 1 to January 4. The Shanghai and Shenzhen stock exchanges issued notices stating that, in accordance with relevant notices from the China Securities Regulatory Commission, the 2026 holiday market closure schedule is as follows: For New Year's Day, the market will be closed from Thursday, January 1, to Saturday, January 3, and will reopen for normal trading on Monday, January 5. Additionally, Sunday, January 4, is a regular weekend closure. The China Financial Futures Exchange and Guangzhou Futures Exchange announced their 2026 holiday closure schedule: For New Year's Day, trading will be suspended from Thursday, January 1, to Saturday, January 3, resuming on Monday, January 5. Sunday, January 4, is a weekend closure. Furthermore, stock markets in Hong Kong, the US, the UK, South Korea, Japan, Singapore, and Malaysia will also be closed on January 1. The Japanese market will also be closed on January 2.
BIREN TECH, the "first GPU stock on the Hong Kong market," has set its Hong Kong IPO price range at HK$17.00 to HK$19.60 per share. It plans to list and begin trading on January 2, under the stock code "6082". The company holds unfulfilled binding orders totaling approximately 822 million yuan. The IPO proceeds will be primarily used for the research, development, and commercialization of next-generation chips.
51WORLD, the "first Physical AI stock," launched its share offering on December 18. The company is globally offering 23.975 million shares at HK$30.5 per share. If the over-allotment option is fully exercised, it could raise up to approximately HK$841 million and is expected to list on December 30. Lin Qingxuan plans to issue H-shares at HK$77.77 per share and is also expected to list on December 30.
Following significant price volatility in the secondary market, the SDIC Silver Futures Securities Investment Fund (LOF) is once again tightening subscription limits. Effective December 29, the maximum amount for regular fixed-amount investments in Class A fund shares will be reduced back to 100 yuan, after previously being increased to 500 yuan, aiming to guide arbitrage capital to curb the premium. This fund has adjusted its investment limits multiple times within two months: it was reduced from 6,000 yuan to 100 yuan on October 20, increased from 100 yuan to 500 yuan on December 19, and now, according to the latest announcement, is being lowered back to 100 yuan. The SDIC Silver Futures Securities Investment Fund (LOF) has issued an announcement regarding the suspension of subscriptions for Class C fund shares. To protect the interests of fund shareholders, subscriptions for Class C shares will be suspended starting December 29, 2025. Any cancellation or adjustment of this suspension for Class C shares will be announced separately.
The Shanghai Futures Exchange is adjusting the price limit bands and margin requirements for gold and silver futures contracts. Effective from the settlement after market close on Tuesday, December 30, the price limit for gold and silver futures contracts will be adjusted to 15%. The margin requirement for hedging positions will be adjusted to 16%, and for general positions to 17%. For the silver AG2602 contract, the price limit will remain at 15%, with hedging position margins at 16% and general position margins at 17%.
The Guangzhou Futures Exchange has decided to implement the following fee reductions from January 1, 2026, to December 31, 2026. Firstly, the following fees will be waived for all futures products: delivery fees, standard warehouse receipt EFP fees, standard warehouse receipt transfer payment handling fees, and standard warehouse receipt-as-collateral fees. Secondly, a 50% discount on hedging transaction fees will apply to all futures and options products, charged directly at the standard transaction fee rate. Thirdly, these measures exclude traders identified by the exchange as high-frequency traders.
A wave of price increases is hitting industries like paper manufacturing! Jilin Chemical Fiber, Hunan Yuneng, Bohui Paper, Asia Symbol, Hubei Rongcheng Renewable Technology, Shanying Paper, and Wuzhou Special Paper are raising prices. Jilin Chemical Fiber announced that its wet-process 12TK carbon fiber and 3K carbon fiber will increase by 5,000 yuan and 10,000 yuan per ton, respectively, effective January 1, 2026. Bohui Paper issued an industrial paper price increase notice: effective January 1, 2026, prices will rise by 200 yuan per ton (including tax) based on December 2025 prices. Asia Symbol: effective January 1, 2026, prices for all product series will increase by 200 yuan per ton (including tax) from current levels. Hunan Yuneng announced that, effective January 1, 2026, the processing fee for its full range of lithium iron phosphate products will increase by 3,000 yuan per ton (excluding tax) from the current basis. Hubei Rongcheng Renewable Technology: effective January 4, 2026, prices for its recycled paper/corrugated paper will increase by 50 yuan per ton. Shanying Paper: effective January 4, 2026, T-paper prices will increase by 50 yuan per ton. Wuzhou Special Paper: effective January 4, 2026, prices for the group's White Rhino packaging paper products will increase by 50 yuan per ton from current levels.
On November 27, the 19th meeting of the Standing Committee of the 14th Fujian Provincial People's Congress voted to pass the "Fujian Province Regulations on Promoting Common Standards Across the Strait." This is the first local regulation formulated with the theme of promoting standard alignment between the two sides of the strait and will take effect on January 1, 2026. Simultaneously, the "Fujian Province Regulations on Promoting the Private Economy" will also come into effect on January 1, 2026.
Shargee: The company has secured new investment and will release an AI glasses product co-branded with the Fujian aircraft carrier on December 29.
The South Korean foreign exchange market will be closed on December 31 and will resume trading at 10:00 AM on January 2.
The fertility support policy in Jingmen, Hubei Province, will take effect on January 1, 2026: a subsidy of 10,000 yuan will be provided for IVF treatments.
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