According to an HKEX filing, BlackRock's stake in Aluminum Corporation of China Limited (02600.HK) rose to 10.39% from 9.75% on Sept 21.

CITIC Securities said AI compute is entering a full‑liquid‑cooling era, with liquid cooling shifting from an optional configuration to required infrastructure. Mainstream platforms — NVIDIA Rubin, Google TPU v7/v8, AMD Helios and ByteDance’s AI Rack 3.0 — are moving from high‑share liquid or air‑liquid hybrid designs to 100% liquid‑cooled, fanless architectures. Coupled with tight local capacity overseas, accelerating exports by Chinese suppliers and the roll‑out of China’s national standards, 2026 could be a turning year for concentrated order and earnings realization across the liquid‑cooling supply chain.

SMBC Nikko Securities strategist Yoshimasa Maruyama said the Bank of Japan could raise rates every four to five months. The BOJ raised its policy rate to 1.25% last Friday, just three months after the prior hike. Maruyama warned too-rapid tightening could pose downside risk to the economy; if upside inflation risks rise sharply, the BOJ could shorten intervals to three months. SMBC Nikko expects further BOJ hikes in January and June next year, lifting the terminal rate to 1.75%.