China A-share food processing and manufacturing sector briefly slid; Anji Foods hit the daily limit-down, with Baihe, Gaishi Food, Haoxiangni and Haixin Food also falling.

工业金属的边际需求逻辑正在变化。过去市场判断铜铝需求往往紧盯地产和传统基建，但当前数据中心、电网扩张和电气化正在成为更重要的新增需求来源。UniCredit认为，铜受益于结构性供给约束和电气化，铝则更多受益于电网扩张、轻量化及回收需求。 这一变化也得到电力投资趋势支撑。IEA预计，2026-2030年全球用电需求年均增长3.6%，AI和数据中心是重要增量来源；为满足新增负荷，到2030年全球电网投入需要较当前提高约50%。

South Korean stocks jumped on Thursday, lifting emerging market equities as a global AI trade rebound pushed the Seoul KOSPI into a technical bull market. Jefferies strategist Mohit Kumar said he remains comfortable with an overweight in AI, citing a strong earnings season and no sign of a capex slowdown. The KOSPI rose 3.2% on Thursday, roughly 22% above its July 30 low. Large-cap memory makers Samsung Electronics and SK Hynix led gains, each up about 5%. Kumar warned geopolitics remains the main risk: the Strait of Hormuz remains closed — if the stalemate lasts weeks markets should digest it, but if it endures months markets would need to reprice.