At the morning close, China’s main front-month futures were mostly lower: Shanghai tin fell more than 4%; palm oil, rapeseed oil, red dates, synthetic rubber, palladium, soda ash, glass and eggs dropped over 2%. Winners included coking coal, up over 2%, while coke, lithium carbonate and starch gained more than 1%.

Against an industry focus on MaaS revenue and token-usage metrics, Huawei Cloud CEO Zhou Yuefeng said the cloud unit prioritizes productivity improvements from Tokens over total token revenue or consumption. He noted Huawei Cloud is built on domestically sourced compute and, given constrained domestic compute supply, will not compete with peers on raw compute scale. Consequently, Huawei Cloud de-emphasizes topline and token-consumption KPIs and is focusing on developing a second compute plane rather than pursuing sentiment-driven value.

China Galaxy Securities says 2026 brings a two-sided opportunity for Chinese insurers. Asset side: broader allocation options and a healthier equity market should ease investment-return pressure. Liability side: participating/dividend life products are becoming the main source of new premiums; assumed/guaranteed life rates are stabilizing, reducing reliance on suspend-and-reprice tactics, and deposit migration in a low-rate era should continue to unlock liability-side potential. The broker sees scope for sector valuation repair.