A股光刻機概念板塊競價高開，波長廣電、永新光學、張江高科、海立股份一字漲停，茂萊光學、藍英裝備漲超10%。

UBS said Microsoft's recent share pullback has already priced in some risk ahead of the fiscal fourth-quarter print, leaving downside relatively limited. The bank retains a Buy rating but trims its PT to $480 from $510, citing the risk Microsoft may raise its capex outlook while merely maintaining — not upping — Azure growth guidance. UBS warned that higher spending coupled with limited revenue growth would be poorly received by markets. The note also flagged Microsoft’s exposure to OpenAI, substitution risk from open‑source models, and renewed scrutiny of its core productivity software business. UBS said it maintains Buy but will take a more balanced view of this report.

Mainland A-share indices fell: Shanghai Composite down more than 1.0%, Shenzhen Composite down 3.0%, ChiNext Index down 4.6%.