Philadelphia Semiconductor Index (SOX) is on track to post its largest single-day decline since March 2020, most recently down 11.48%.

The State-owned Assets Supervision and Administration Commission (SASAC) held a Nov. 4 video meeting to implement the spirit of the 20th Party Central Committee’s Fifth Plenum, reiterating near-term priorities for central SOEs. SASAC instructed firms to accelerate implementation of the 15th Five-Year Plan, boost effective investment and raise basic research spending, and speed cultivation and scaling of emerging and future industries to build a modern, technology-led industrial system. It ordered delivery on reform priorities, improvement of institutional mechanisms and establishment of a penetrating supervisory framework to tackle deep-rooted SOE governance problems and strengthen the foundation for high-quality enterprise development. SASAC also called for completion of full-year operating targets, measures to lift quality and efficiency, active prevention and resolution of major risks, and tight management of production safety, supply and price stability to help stabilise the broader economy.

Orsted CEO said the Middle East war has had no material impact on the company's construction budget.