Key financial events for the week of October 13-19, all times in Beijing Time:

Next week's highlights include: Oracle AI conference, whether the US government can end the shutdown and release September CPI data, China's CPI, PPI, import and export data announcements. The IMF/World Bank summit next week may see global central banks focus on discussing stock market crash risks. The Federal Reserve will release the Beige Book reflecting economic conditions across the US. ASML, Taiwan Semiconductor Manufacturing, and Samsung Electronics will report earnings.

Additionally, the Nobel Economics Prize winner will be announced. Multiple US investment banks will release earnings, including Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup, and BlackRock. The 2025 World Intelligent Connected Vehicle Congress will also be held in Beijing. Meanwhile, legal disputes over US tariff policies are expected to see progress.

Regarding official speeches, Fed Chair Powell is scheduled to speak on economic and monetary policy outlook next Tuesday. Additionally, Fed governors Waller, Michael Barr, Miran, and several regional Fed presidents will also deliver speeches.

**Economic Indicators**

**US September CPI**

The US September CPI, originally scheduled for release on October 15, has been delayed to October 24 due to the government shutdown. This data is not only crucial for next year's social security adjustments but also serves as key evidence for the Fed's assessment of inflation trends before the October 28 interest rate meeting. Despite inflation remaining above target, markets widely expect the Fed to continue rate cuts, and this CPI data will directly impact the pace and magnitude of rate reductions.

According to the Bureau of Labor Statistics, the important US September CPI report will be released at 8:30 AM Eastern Time on October 24, nine days later than originally scheduled. The latest September CPI release timing also comes before the Fed's FOMC policy meeting on October 28-29.

**China September CPI, PPI**

China will release September CPI and PPI data on October 15. Huatai Securities expects CPI year-over-year at -0.1%, while CICC predicts -0.3%, both improvements from August's -0.4%. This expectation is based on two factors: non-food items showing marginal improvement under low base effects, while core CPI is expected to continue its recovery trend, with service consumption demand supporting core inflation.

Meanwhile, Huatai expects PPI year-over-year decline to continue narrowing to 2.4%. China's August PPI month-over-month ended eight consecutive months of decline and turned flat, with the year-over-year decline narrowing to 2.9%.

**China September Import and Export**

China will release September import and export data on October 13. Market institutions hold optimistic expectations for this month's export performance. Huatai Securities expects September export growth of about 6.0%, while CICC predicts it could reach 7.4%, significantly accelerating from August's 4.4%. This is mainly due to the global manufacturing cycle recovery, steady exports to non-US regions, and low base effects.

**Financial Events**

**Oracle AI World Conference**

Oracle will host its global AI conference (Oracle AI World) in Las Vegas from October 13-16.

At the conference, Oracle is expected to launch new Oracle AI Database services, further deepening its AI strategy and demonstrating to the market how it's transforming from a traditional software giant to a leader in AI infrastructure.

Before the conference, Oracle has already shown strong momentum in the AI field. The company's recently released Q1 FY2026 earnings, while revenue and earnings per share were slightly below analyst expectations, saw AI-related remaining performance obligations (RPO) soar to $455 billion, up 359% year-over-year, directly driving the stock price to historic highs.

Oracle CTO Larry Ellison emphasized that the company is actively positioning for AI-driven cloud demand through innovative services like MultiCloud Database and the upcoming Oracle AI Database.

**International Monetary Fund (IMF) and World Bank Autumn Meetings**

The 2025 IMF and World Bank autumn meetings will be held October 13-18. Global central bank governors will focus on discussing stock market bubbles and potential crash risks. IMF Managing Director Kristalina Georgieva has warned that current asset valuations are approaching levels seen during the internet bubble 25 years ago, and significant market corrections would drag down the global economy. The Fed, ECB, Bank of England, and others have all expressed concerns about overvalued markets and correction risks.

**Goldman Sachs Predicts: US Government May End Shutdown by October 15**

Goldman Sachs expects that while the US government shutdown may last several weeks, it's unlikely to continue beyond October 15's military payday, as active military personnel would miss their entire paycheck if the shutdown continues.

A major focus of current bipartisan disputes is the healthcare subsidy bill expiring November 1. Goldman believes that once Trump signals willingness to discuss health issues, Democrats would likely accept and agree to at least temporarily reopen the government.

**2025 World Intelligent Connected Vehicle Congress to be Held in Beijing**

The 2025 World Intelligent Connected Vehicle Congress, jointly hosted by the Ministry of Industry and Information Technology, Ministry of Transport, and Beijing Municipal Government, will be held in Beijing from October 16-18. This intelligent connected vehicle congress uses the theme "Gathering Intelligence and Energy, Connecting Infinitely," conveying global voices on industry, technology, and cooperation.

The congress will focus on automotive industry application innovations including cutting-edge technologies like artificial intelligence, information communication, data utilization, and chips, sharing China's latest technological breakthroughs and industry trends in the intelligent connected vehicle field with overseas government officials and experts from multiple countries. During the congress, multiple reports on hot topics including "vehicle-road-cloud integration" construction results and "AI + automotive" will be released. It will also comprehensively showcase new technologies, products, models, and ecosystems.

**Nobel Economics Prize Winner Announcement**

The Nobel Economics Prize winner will be announced on October 13.

The highly anticipated 2025 Nobel Prize season began on October 6 and continues until October 13. Starting with the Physiology or Medicine Prize, six major awards including Physics and Chemistry will be announced successively. This is not only an annual event for the scientific community but also viewed by capital markets as an important indicator of future industry trends.

Looking back at 2024, artificial intelligence (AI) was the biggest winner, with its foundational contributions in machine learning (Physics Prize) and protein structure prediction (Chemistry Prize) being recognized. Markets widely expect this trend focusing on "applied" and "interdisciplinary" research may continue this year. Analysis points out that modern scientific awards are increasingly interdisciplinary, with the Chemistry Prize often jokingly called the "comprehensive science prize," meaning investors need to focus on technology's disruptive nature rather than being confined to traditional disciplinary divisions.

**US Appeals Court Rules Most Global Tariff Policies Illegal, These Additional Tariffs Can Remain Until October 14 for Government Appeal**

According to previous reports, a US appeals court ruled that most global tariff policies implemented by President Trump were illegal. The court stated that these additional tariff measures can remain until October 14 to allow the US government to appeal to the Supreme Court.

The Federal Circuit Court of Appeals in Washington ruled that the International Emergency Economic Powers Act did not explicitly grant the US President the power to impose tariffs, and Trump's invocation of this law to impose tariffs exceeded his authority. The court's ruling does not affect tariffs imposed by the Trump administration under other provisions, such as steel and aluminum tariffs.

**Sharm El-Sheikh Peace Summit to be Held in Egypt**

According to reports, the Egyptian Presidency announced on the 11th that an international conference themed "Sharm El-Sheikh Peace Summit" will be held on October 13 in the Red Sea resort city of Sharm El-Sheikh, Egypt. The summit will be co-hosted by Egyptian President El-Sisi and US President Trump.

This summit aims to end the Gaza conflict, strengthen efforts to achieve Middle East peace and stability, and open a new chapter in regional security and stability. More than twenty national leaders and UN Secretary-General Guterres will attend this summit.

**Earnings Reports**

**Cambricon Technologies Corporation Limited**

As its stock price breaks through 1,520 yuan to reclaim the "A-share stock king" throne amid sustained high market sentiment, Cambricon Technologies Corporation Limited will release its Q3 2025 earnings on October 17. This report will be a crucial test of whether it can maintain explosive growth momentum.

According to first-half results, Cambricon Technologies Corporation Limited's revenue surged 4,347.82% year-over-year to 28.81 billion yuan, successfully turning from loss to profit with net profit reaching 10.38 billion yuan. Cloud products contributed 99.6% of revenue, highlighting the company's precise positioning in the AI computing power demand explosion.

**Samsung Electronics**

On October 14, Samsung Electronics will announce preliminary Q3 2025 results. Markets widely expect that driven by the semiconductor super cycle, the company's operating profit could exceed 10 trillion won, reaching a new high in over a year. This earnings rebound is mainly attributed to strong recovery in the semiconductor business, particularly explosive demand for general memory from AI servers, driving significant DRAM price increases. Meanwhile, the previously loss-making foundry business is expected to see substantially narrowed losses, potentially jointly driving Q3 results to exceed expectations.

**ASML**

Lithography giant ASML will release Q3 2025 results on October 15. Against the backdrop of AI waves driving high-end chip demand, markets expect sales of 7.4-7.9 billion euros. This optimistic expectation mainly stems from its monopolistic position in high-end extreme ultraviolet (EUV) lithography systems, which are indispensable equipment for manufacturing 3-nanometer and 2-nanometer chips that power AI accelerators and data centers. However, geopolitical risks and trade policy uncertainties remain potential challenges investors need to closely monitor.

**Taiwan Semiconductor Manufacturing**

Taiwan Semiconductor Manufacturing will release Q3 2025 results on October 16. Its Q3 revenue has already been disclosed at NT$989.92 billion, up 30% year-over-year and exceeding market expectations. Driven by strong global AI chip demand, especially from clients like NVIDIA and AMD, the company's performance has been outstanding. Markets will focus on profit details and future guidance to verify whether AI-driven growth momentum can continue and provide important clues for global semiconductor industry prospects.