Shanghai Futures Exchange said effective from settlement at close on Wednesday, Sept. 23, 2026, it will change daily price limits and trading margin ratios. Fuel oil futures: daily price limit set at 16%; margin requirement for spread/hedged positions 17% and for normal positions 18%. Exception: FU2610 and FU2611 contracts — daily limit 18%; spread/hedged margin 19%; normal margin 20%. Petroleum asphalt and butadiene rubber futures: daily price limit 12%; spread/hedged margin 13%; normal margin

CSC Financial says A-share market has entered a second-stage recovery. Middle East geopolitical spillovers lifted oil and long-end UST yields earlier but that phase has eased; oil and long-end UST yields have retreated. With domestic easing on rates and a stable RMB, leadership is rotating back to earnings and capital is returning to high-profitability sectors. Key risks: the persistence of overseas rate and oil declines and external shocks around the FOMC meeting at end-October. Recommended positioning: balanced, layered. Offensive overweight: compute-capacity supply-constrained segments (optical chips, PCB manufacturing, CCL, server OEMs) and industrial base metals (copper, aluminum, tin). Defensive base: dividend-yielding assets as core ballast. Tactical: selective, policy-driven domestic-demand opportunities in agriculture, medical aesthetics, and textiles/apparel.

代理州長：烏克蘭無人機襲擊俄羅斯布良斯克地區造成一人死亡。