According to Hong Kong Stock Exchange filings, JPMorgan Chase increased its short position in ZTE Corporation (00763.HK) from 5.43% to 6.21% on January 20.

A-share power grid equipment stocks rallied during trading, with Wangbian Electric hitting the daily limit, Yineng Power rising over 10%, and Sanbian Technology, TBEA, Zhiyang Innovation, and Baobian Electric following suit.

Monday: ① Data: Germany's January IFO Business Climate Index; US November Durable Goods Orders (MoM); US January Dallas Fed Business Activity Index; China's December Year-to-Date Power Generation Capacity. ② Events: 200 billion yuan of 1-year Medium-term Lending Facility (MLF) and 158.3 billion yuan of 7-day reverse repos mature today; the China Academy of Information and Communications Technology holds the 2026 "Star Computing & Intelligent Connectivity" Space Computing Power Seminar. ③ Holidays: The Sydney Stock Exchange and the National Stock Exchange of India are closed. Tuesday: ① Data: US November FHFA House Price Index (MoM); US November S&P/CS 20-City Composite Home Price Index (YoY, Unadjusted); US January Conference Board Consumer Confidence Index; US January Richmond Fed Manufacturing Index. ② Earnings Reports: Boeing, General Motors. Wednesday: ① Data: US API crude oil inventories for the week ending January 23; Australia's December unadjusted CPI year-on-year rate; Germany's February GfK consumer confidence index; Switzerland's January ZEW investor confidence index; US EIA crude oil inventories for the week ending January 23. ② Events: Bank of Canada releases interest rate decision and monetary policy report. ③ Earnings Reports: Meta, Microsoft, Tesla (after market close). Thursday: ① Data: Switzerland's December trade balance; Eurozone's January industrial and economic sentiment indices; US initial jobless claims for the week ending January 24; US November trade balance; US November factory orders month-on-month; US November wholesale sales month-on-month; US EIA natural gas inventories for the week ending January 23. ② Events: Federal Reserve FOMC releases interest rate decision; Federal Reserve Chairman Powell holds a monetary policy press conference. ③ Earnings Reports: Apple (after market close). Friday: ① Data: Japan's December unemployment rate; France's preliminary Q4 GDP annual rate; Switzerland's January KOF Leading Economic Index; Germany's January seasonally adjusted unemployment figures, Germany's January seasonally adjusted unemployment rate, and Germany's preliminary Q4 unadjusted GDP annual rate; UK's December Bank of England mortgage approvals; Eurozone's preliminary Q4 GDP annual rate and Eurozone's December unemployment rate; Germany's preliminary January CPI monthly rate; Canada's November GDP monthly rate; US December PPI data and US January Chicago PMI. Saturday: ① Data: US total oil rig count for the week ending January 30; China's official January manufacturing PMI. ② Events: 2028 FOMC voting member and St. Louis Fed President Musalaim speaks on the US economy and monetary policy; CFTC releases weekly positioning report.