State Council Executive Meeting: Improve the capital market stabilization mechanism and strengthen the internal stability of the stock market. The State Council executive meeting pointed out that risks in areas such as local government debt and small and medium-sized financial institutions must be continuously defused. The capital market stabilization mechanism should be improved, the internal stability of the stock market should be enhanced, and the steady and healthy development of the capital market should be promoted. Supply and price stability should be strengthened, assistance to people in difficulty should be increased, recovery and reconstruction in disaster-affected areas should be accelerated, and the resettlement and livelihood support of affected people should be effectively carried out. The thinking for next year's economic work should be carefully studied, cross-year policy coordination should be strengthened, and sustained improvement in the economy should be promoted.

The Nasdaq Golden Dragon China Index closed up 1.67%. In overnight U.S. trading, the Dow Jones Industrial Average fell 237.33 points from the previous close to 51,285.73, a decline of 0.46%; the S&P 500 rose 23.13 points to 7,376.86, a gain of 0.31%; and the Nasdaq Composite rose 264.42 points to 24,579.42, a gain of 1.09%. Last week, the Nasdaq fell 3.37% cumulatively, the S&P 500 fell 2.68%, and the Nasdaq 100 fell 4.91%. The "Magnificent Seven" U.S. tech giants were mixed, with Tesla up 4.18% and Nvidia up 2.87%. Chip stocks rebounded, with the Philadelphia Semiconductor Index up more than 4%; AMD rose more than 11%, Cerebras rose more than 9%, Intel rose more than 7%, TSMC rose more than 6%, and Qualcomm and ASML rose more than 5%. Most Chinese concept stocks rose, with the Nasdaq Golden Dragon China Index closing up 1.67%. Hong Kong's Hang Seng Index ADR rose, calculated proportionally to close at 24,492.82 points, up 10.96 points, or 0.04%, from the Hong Kong close. On the New York Mercantile Exchange, the front-month continuous WTI crude oil futures contract fell $0.01 to $90.51 per barrel, a decline of 0.01%. The front-month continuous COMEX gold futures contract fell $38.20, or 0.93%, to $4,075.3 per ounce.

Fed's Daly still favors further tightening. San Francisco Fed President Mary Daly said on Friday that she expects the Federal Reserve will still need to raise interest rates further to curb persistently high inflation. However, given uncertainty over the economic outlook, the timing and magnitude of future rate hikes remain to be seen. In an interview that day, Daly said, "My expectation is that we will have to tighten monetary policy further." She also stressed that it is not yet possible to determine exactly when rates will rise or by how much, and that the Fed needs to comprehensively consider various emerging economic variables. The National Radio and Television Administration has deployed a new round of special governance against vulgar and homogenized short dramas. Reporters learned on the 6th that, in response to issues such as uneven quality among AI short dramas and AI technology fueling a rebound in vulgar and harmful content, the National Radio and Television Administration recently deployed a new round of special governance work against vulgarization and homogenization in short dramas. The governance period will last two months, from November 1 to the end of December. The People's Bank of China's gold reserves rose for a 24th consecutive month. Official reserve asset data released by the People's Bank of China on the 7th showed that gold reserves at the end of October were 78.30 million ounces, an increase of 830,000 ounces from 77.47 million ounces at the end of September. This was the central bank's 24th consecutive month of gold purchases. Liu Ying, a researcher at the Chongyang Institute for Financial Studies at Renmin University of China, analyzed that the PBOC's increased gold holdings reflect three considerations. HX BLDG MAT (06655) plans to acquire 99.99% equity of Brazil's National Steel and Cement Company for about $1.642 billion. HX BLDG MAT (06655) announced that on November 7, 2026, the buyer (the company) signed an equity acquisition agreement with the seller, Brazil's National Steel Company (an independent third party). Accordingly, based on an agreed enterprise value of 12.7 billion Brazilian reais (equivalent to about $2.3085 billion), the buyer conditionally agreed to acquire, and the seller conditionally agreed to sell, 99.99% equity of the target company, Brazil's National Steel and Cement Company, for a total consideration estimated at about 9.0337 billion Brazilian reais (equivalent to about $1.642 billion, subject to adjustment based on net debt and working capital in the financial statements on the closing date). After completion of the acquisition, the target company will become a controlled subsidiary of the company, and the target company's financial results will be consolidated into the company's financial statements. The 750,000-kilowatt wind power project of CGN Jeminay County Heishan has been fully connected to the grid and put into operation. According to China General Nuclear Power Group, on November 7, the 750,000-kilowatt wind power project of CGN Jeminay County Heishan was fully connected to the grid and put into operation. The project is located in Jeminay County, Altay Prefecture, Xinjiang, with a total installed capacity of 750,000 kilowatts. It installed 75 wind turbine generator units with a single-unit capacity of 10 megawatts and built one new 220-kilovolt wind power collection station, connected to the State Grid Kanas 750-kilovolt substation through one 220-kilovolt transmission line for grid connection. This involves Hong Kong-listed CGN POWER (01816). CHALCO (02600) subsidiary plans to sign an EPC general contracting contract with China Aluminum International, with a contract price of about RMB 6.55557 billion. CHALCO (02600) announced that on November 6, 2026, after deliberation and approval by the 18th meeting of the company's ninth board of directors, the company's subsidiary Chalco Guinea (Chalco Guinea) (as employer) planned to sign an engineering, procurement, and construction (EPC) general contracting contract with China Aluminum International Engineering Corporation Limited (China Aluminum International) (as contractor). Accordingly, Chalco Guinea planned to engage China Aluminum International to provide EPC services for the Guinea alumina project located in the Boffa region of the Republic of Guinea. The EPC general contracting contract is a fixed lump-sum contract, with a signed contract price of about RMB 6.55557 billion. Except for adjustments stipulated in the contract terms, the contract price will not be adjusted. ZYLOXTB (02190) plans to indirectly take a stake in Lifetech Scientific (01302) to establish a vascular intervention platform, while concurrently issuing H shares at a premium of about 13.5% to raise net proceeds of about HK$864 million. According to Zhitong Finance APP, ZYLOXTB (02190) announced that on November 6, 2026, Lifetech Scientific (01302.HK) planned to issue about 926 million target company shares to Lighthouse SPV, accounting for about 16.7% of the target company's total issued shares after the allotment and issue of Lifetech shares, for a total consideration of about HK$1.4821 billion. The company planned to subscribe for Lighthouse shares, accounting for about 60.0% of Lighthouse SPV's total issued shares after the allotment and issue of Lighthouse shares, for a consideration of about HK$889.3 million. After completion of the proposed transaction, the company will (i) indirectly hold about 16.7% of the voting rights of Lifetech Scientific (01302) through its 60.0% equity interest in Lighthouse SPV; and (ii) indirectly hold about 10.0% of the beneficial interest in Lifetech Scientific (01302). China Aluminum International (02068) plans to enter into an EPC general contracting contract for the Guinea alumina project. Chalco Guinea, as the employer, planned to engage the company to provide EPC services for the Guinea alumina project located in the Boffa region of the Republic of Guinea. The EPC general contracting contract is a fixed lump-sum contract, with an expected signed contract price of about RMB 6.556 billion. Except for adjustments stipulated in the contract terms, the contract price will not be adjusted. TIANYU SEMI (02658) plans to acquire about 7% of Zhejiang Tony Electronic for RMB 400.1 million. According to Zhitong Finance APP, TIANYU SEMI (02658) announced that on November 6, 2026, the company entered into a share transfer agreement with Mr. Shen Xinfang, under which the company conditionally agreed to acquire, and the seller conditionally agreed to sell, 16.271 million A shares of the target company, accounting for about 7% of its total issued share capital, for a total cash consideration of RMB 400.1 million, equivalent to RMB 24.59 per sale share. FIH (02038) recorded a profit of $66.985 million in the first three quarters, up 59.16% year on year. FIH (02038) released its first three quarters results, with revenue and other operating income of $5.636 billion, up 7.78% year on year; profit for the period was $66.985 million, up 59.16% year on year.

JD HEALTH (06618): The number of connected AI products doubled compared with this year's 618. At the AI Health Forum of the 2026 JD Global Technology Explorer Conference, JD HEALTH (06618)'s medical device business concentrated on releasing the latest achievements of its "AI + medical devices" strategic upgrade, continuing to push forward in three major directions: product innovation, professional services, and omnichannel expansion, to build a full-cycle health management system covering monitoring and analysis, intelligent intervention, and professional services. Since the beginning of this year, JD HEALTH (06618) has comprehensively upgraded its "AI + medical devices" strategy, embedding a "high-EQ brain" into medical device products through access to JoyInside to achieve functions such as hyper-realistic conversation, adaptation across all age groups, and highly coordinated speech and action. As of now, the number of medical device products connected to JD HEALTH (06618)'s AI capabilities has doubled compared with the 618 period this year. On November 6, during the ninth China International Import Expo, JD HEALTH (06618) reached a strategic cooperation with Merck, under which new drug launches over the next three years will prioritize JD HEALTH (06618). In August, CICC issued a research report stating that, considering the company's continued improvement in overall profit output, it raised JD HEALTH (06618)'s 2026 and 2027 non-IFRS net profit by 5%/3% to RMB 6.73 billion/7.01 billion. It maintained the company's target price of HK$66.2 unchanged (67.5% upside) and maintained an outperform industry rating.