週一開盤，現貨黃金跳空低開，現報4436美元/盎司，日內跌約0.4%。

At the noon close the HSI was down 0.71% and the Hang Seng Tech Index down 1.03%. Mainland bank stocks led gains: Postal Savings Bank of China (01658.HK) up >7%, Bank of China (03988.HK) up >5% and hitting a record high, China Minsheng Banking (01988.HK) up >4%, Bank of Communications (03328.HK) up >3%. Coal names were active: Yankuang Energy (01171.HK) up >2%, China Coal Energy (01898.HK) up >1%. Liquid-cooling plays outperformed: AAC Technologies (02018.HK) up >6%, BYD Electronic (00285.HK) up >4%. Telecom, utilities, OLED and household-appliance sectors also showed buying. Property names fell sharply: China Jinmao (00817.HK) down >14%, Greentown China (03900.HK) down >12%, CHINA RES LAND (01109.HK) down >7%. Biotech, EV suppliers, building materials & cement, agriculture and power-equipment were among the worst-performing sectors.

On the 31st, China’s Ministry of Education and six other ministries issued the Action Plan for Special Education Development and Enhancement for the 15th Five‑Year period. The plan calls for accelerating construction of a high‑quality, inclusive special education system, improving the public‑service universality, accessibility and convenience of special education, and continuously strengthening special education guarantee mechanisms. It sets a target to consolidate compulsory‑education enrollment for school‑age disabled children at 97% or above by 2030 and to progressively raise the digitalization and intelligent capabilities of special education to support social integration and lifelong development.