**Key Highlights** China’s Ministry of Commerce emphasized measures to boost consumption and expand autonomous openness during a policy meeting. Meanwhile, SoftBank Group divested its entire NVIDIA stake, raising $5.83 billion to fund AI initiatives like the "Star Gate" data center and U.S. robotics projects.

**Market Overview** U.S. stocks closed mixed: the Dow rose 1.18%, while the Nasdaq fell 0.25%. NVIDIA dropped nearly 3%, and XPeng Motors (09868.HK) surged over 7%. Hong Kong’s HSI ADR dipped 0.07%.

**Sector Focus** - **AI & Robotics**: Tesla plans to expand its Texas Gigafactory for mass-producing Optimus humanoid robots, targeting 10M units annually by 2027. Goldman Sachs remains bullish on humanoid robotics but stresses monitoring performance benchmarks. - **Fintech**: China’s central bank outlined plans for AI integration in finance and a "15th Five-Year" fintech development roadmap. - **Property**: Hong Kong’s luxury home sales (≥HK$50M) doubled MoM in October to a one-year high. - **Battery Tech**: Global EV battery installations grew 35% YoY to 768.3GWh in Jan-Sept 2025.

**Innovation Milestone** Shanghai Step Medical’s implantable brain-computer interface system entered China’s fast-track approval, marking a pivotal step toward commercialization.

**Corporate Updates** - **ZTE (00763.HK)**: Completed 5G-A low-altitude communication tests. - **China Energy Engineering (03996.HK)**: Won contracts for two ultra-high-voltage power transmission projects. - **RoboSense (02498.HK)**: Delivered a record 120,000 LiDAR units in October. - **Hesai (02525.HK)**: Q3 net profit hit RMB256M, with LiDAR shipments up 228.9% YoY. - **HUANXI MEDIA (01003.HK)**: Announced a strategic AI partnership and a HK$0.30/share share placement.

**Stock Spotlight: XPENG-W (09868.HK)** XPeng unveiled its next-gen IRON humanoid robot and Robotaxi plans, with Morgan Stanley and Citi endorsing its AI-driven growth. The company aims to launch three self-developed Robotaxis by 2026. Analysts see XPeng emerging as an "embodied AI" leader, warranting valuation reassessment.