Guotai Haitong maintains an overweight rating on China’s property services sector. Since 2026 the sector has been absorbing the aftermath of rapid expansion and facing weaker macro-driven operational pressure, but as business models and market expectations normalize, firms are prioritizing internal development and adopting technology to cut costs, boost efficiency and pursue measured growth. With the sector at a long-term valuation trough, Guotai Haitong sees potential for a simultaneous rebound

據伊朗塔斯尼姆通訊社：也門武裝部隊發言人葉海亞·薩里准將宣佈，也門武裝部隊將於薩那時間週二上午9:30（北京時間14:30）發佈關於在沙特境內大規模軍事行動的聲明。

LME copper's move above $14,500/tonne is often linked to AI, grid and electrification demand, but a deeper supply constraint is falling ore grades. BHP said Escondida set records for mined and milled tonnage in the first nine months of FY2026, yet copper production fell 3% as head grade declined from 1.05% to 0.91%. Lower grades force miners to process more rock and consume more energy and inputs to sustain output. IEA data show average global copper ore grade is about 40% lower than in 1991; capital intensity for existing mine expansions has risen ~65% since 2020. Just 5% of copper resources discovered in the past 35 years were found in the last decade, and new projects take roughly 17 years from discovery to production on average. Market signals are tightening: annual concentrate treatment charges for 2026 have fallen to zero and spot TCs are negative, indicating smelters have spare processing capacity while available concentrates are limited.