Barclays cut Beyond Meat (BYND.O) PT to $5 from $10.

US-listed memory and storage stocks under pressure: SK Hynix (SKHY.O) down over 4% premarket, Western Digital (WDC.O) down 3.7%, SanDisk (SNDK.O) down 3.4%, Micron Technology (MU.O) down over 2%.

The Asset Management Association of China issued guidance for the public fund investment-adviser pilot defining a retail T-class share for clients of fund investment-adviser services. T-class shares will carry no subscription/purchase fees or client maintenance fees; management fees will generally be set at 60% of the fund’s existing management fee. Effective Jan. 1, 2027, pilot adviser firms that also sell funds, or where fund sales are conducted by related parties under common control, must allocate T-class shares to investors for new business. For existing business, firms may transition to T-class shares progressively during portfolio strategy rebalances, subject to investor-interest and best-execution principles.