国元证券晨会纪要-20251110

Core Insights - The report highlights that policy uncertainty has emerged as the primary financial stability risk according to the Federal Reserve [4] - China's core CPI has expanded for six consecutive months, while PPI has seen its first month-on-month increase of the year [4] - In October, China's exports decreased by 0.8% year-on-year, while imports increased by 1.4% when measured in RMB [4] - The current account surplus for China in Q3 was reported at 1.3948 trillion yuan [4] - The Ministry of Finance is committed to continuing actions aimed at boosting consumption [4] - The People's Bank of China has increased its gold reserves for the 12th consecutive month [4] Economic Data - The Baltic Dry Index closed at 2104.00, reflecting a 1.99% increase [5] - The CME Bitcoin futures price rose by 2.91% to 104,160.00 [5] - ICE Brent crude oil closed at 63.70, up by 0.50% [5] - The London gold spot price was reported at 4000.29, an increase of 0.59% [5] - The US dollar index decreased by 0.15% to 99.55 [5] - The Hang Seng Index closed at 26,241.83, down by 0.92% [5] - The Shanghai Composite Index closed at 3997.56, reflecting a decrease of 0.25% [5]