US equities closed lower Wednesday: Dow Jones Industrial Average preliminarily down 0.66%, S&P 500 down 0.22% and Nasdaq Composite down 0.22%. Micron Technology rose 4%; SK Hynix and SpaceX each fell more than 2%. The Nasdaq Golden Dragon China Index gained 0.12%, led by JD.com up about 2%.

CITIC Securities says 3Q26 transport & logistics earnings divergence should persist as a cycle paradigm shift boosts profit elasticity in oil tankers and container lines. Oil shipping: expect a renewed upswing in crude tanker spot rates after the National Day holiday; recommend names positioned to benefit and monitor G7 strategic crude/diesel releases, elevated refining cracking spreads, and seasonal plus cross-regional demand that should lift product tanker volumes. Container shipping: shipowners’ margin recovery is the likely valuation catalyst; recommended exposure to Red Sea re-rating plays and carriers with stable cash flow and high dividend capacity. Express delivery: peak-season price recovery underway, while low volume growth is accelerating competitive differentiation. Air cargo: AI-related supply-chain shipments were a key driver of 1H air freight growth and have raised the share of schedule-stable, high-tech cargo; watch peak-season restocking and new capacity flowing through to margins and firms with low expectations but attractive upside for cyclic resilience.

Japan's Nikkei 225 closed down 648.27 points, or 0.92%, at 70,035.71 on Wednesday, Oct. 7.