Due to the end of US daylight saving, the ADP private payrolls report will be released at 21:15 Beijing time. Markets broadly expect October ADP payrolls around +70k. After the Fed paused hikes in October, continued employment resilience would affect

Key News 1. Pan Gongsheng, PBOC: Maintaining the stable operation of financial markets such as stocks, bonds, and foreign exchange. 2. The State Council's report on financial work outlines five considerations for the next steps in my country's financial work. 3. 1.5006 million new A-share accounts opened in October 2026, a year-on-year decrease of 35.04%. 4. Morgan Asset Management (China): The market may have already priced in many pessimistic expectations, and investment value is beginning to emerge. 5. The Ministry of Foreign Affairs responds to reports that "Nvidia requires its partners to provide at least 51% of their services to non-Chinese companies." Individual Stock News 1. Changxin Technology: The company's chairman proposed increasing the amount of share buybacks. 2. Rumors circulated that Nomura lowered its target price for Zhongji Xuchuang to 330 yuan; Nomura responded: This is untrue. 3. Zhongji Xuchuang responds to rumors of overseas clients lowering their demands or canceling orders: The vast majority of clients have not lowered their demands or orders. 4. Dongshan Precision: Controlling shareholder Yuan Yonggang proposed a total shareholder return of no less than RMB 1 billion in 2026. 5. Yoozoo Games: A subsidiary signed a GPU procurement contract worth RMB 4.225 billion. 6. Guosheng Technology: The business of a major holding subsidiary remains temporarily suspended. 7. *ST Wingtech: Nexperia B.V. has filed a lawsuit in a Dutch court against the company and its actual controller, seeking US$2 billion in damages. 8. New Easun: From November 2nd to November 3rd, it spent approximately RMB 400 million to repurchase 2.1391 million shares, at a price of RMB 172.05/share to RMB 199.75/share. 9. Xiechuang Data: DDR memory is in severe shortage; the upward price trend is expected to continue for at least three years. Recent quotes have increased by 30% and have been accepted. 10. Shanying International: The China Securities Regulatory Commission (CSRC) has decided to investigate its actual controller, Wu Mingwu, for suspected insider trading and short-swing trading. 11. Accelink Technologies clarifies: Rumors of material shortages and production stoppages are untrue; ongoing R&D projects focusing on optical transmission and optical interconnects are progressing smoothly. 12. Yunnan Germanium: A subsidiary signed a long-term supply agreement with AOI for a total of 900,000 indium phosphide substrates, with a contract value of approximately US$194 million for 2027.

Germany's final October services PMI was 52.5, below the expected 51.7 and the previous reading of 51.7.