Group 1: Hong Kong Stocks - China Metallurgical Group (01618) rose nearly 7%, with institutions stating that the value of this resource-rich construction company needs urgent reassessment [1] - Rongchang Bio (09995) increased over 5%, as its innovative ophthalmic drug RC28 has been submitted for listing, following a partnership with Santen China [1] - Laikang Pharmaceutical-B (02105) surged nearly 6%, with a cumulative increase of 36% over the last three trading days, driven by positive preliminary results from the Phase I clinical MAD study of LAE102 [1] - UBTECH Robotics (09880) rose over 5%, with a report from CMB International recommending UBTECH as the top pick in the humanoid robot sector and raising its target price [1] - Innovent Biologics (09969) increased over 6%, as the company announced the first prescriptions for Tanshitumomab in several provinces [1] - BrainCo-B (06681) surged over 16%, benefiting from policy catalysts in the brain-computer interface industry, with its cognitive impairment digital therapy product having a first-mover advantage [1] - Yaoshi Bang (09885) rose over 10%, with high-margin business accelerating growth and POCT devices expected to see increased deployment in the second half of the year [1] - DCH Holdings (00179) fell over 7%, as Citigroup downgraded its investment rating from "Buy" to "Neutral," citing limited upside potential for the stock [1] - Minmetals Resources (01208) rose over 2%, planning to issue $500 million zero-coupon convertible bonds maturing in 2030 for overseas debt refinancing [1][2] Group 2: US Stocks - Alibaba (BABA.US) rose 4.65%, with Morgan Stanley reiterating an "Overweight" rating and raising the ADR target price from $165 to $200 [3] - Li Auto (LI.US) increased 3.57%, as the Li One officially commenced delivery at the Changzhou smart manufacturing base, with a report indicating that the i6 model's sales performance is expected to outperform the i8 [3] - JD.com (JD.US) rose 0.15%, announcing that the 2025 Double 11 shopping festival will start on October 9 at 8 PM, two days earlier than last year [3] - Xpeng Motors (XPEV.US) increased 1.76%, with the company announcing that the Xpeng MONA M03 has delivered a total of 180,000 units [3] - New Oriental (EDU.US) rose 4.38%, with a report indicating that the overall business development of the group is stabilizing [3] - Merus (MRUS.US) surged 35.97%, following an agreement with Danish biotech company Genmab for a cash acquisition at $97 per share [3] - Novo Nordisk (NVO.US) fell 0.20%, as Morgan Stanley downgraded its rating to "Sell" and reduced the target price from $99 to $47 [4] - MoonLake (MLTX.US) plummeted 89.93%, with trial results for its therapeutic drug falling far below expectations, leading to a significant target price cut by RBC [4] - TSMC (TSM.US) fell 0.05%, reaffirming that it has not engaged in discussions regarding potential investments or collaborations with any companies [4] - Micron Technology (MU.US) rose 4.22%, with Morgan Stanley predicting that the storage industry price increase cycle may continue into next year [4]

Core Viewpoint - The A-share market opened with all three major indices rising, indicating positive market sentiment and potential investment opportunities in specific sectors [1] Group 1: Market Performance - The Shanghai Composite Index opened up by 0.19%, the Shenzhen Component Index also rose by 0.19%, and the ChiNext Index increased by 0.04% [1] Group 2: Sector Highlights - The non-ferrous metals sector continued its upward trend, with Boqian New Materials achieving a two-day consecutive rise and Xiyue Co. increasing by over 9% [1] - The storage chip sector remained active, with Demingli and Jiangbolong both rising by over 7%, as Morgan Stanley predicts that the price increase cycle in the storage industry may extend into next year [1] - The computing power sector received policy support, leading to significant gains in some concept stocks, with Hengwei Technology hitting the daily limit and Yuntian Lifi rising nearly 4% [1] - The oil and gas extraction and service sector opened lower, with Zhun Oil and Tongyuan Petroleum both declining by nearly 3%, following an overnight drop of over 3% in international oil prices as investors await OPEC's latest production policy [1]

Core Viewpoint - Micron Technology (MU.US) shares rose over 5% to $165.47, driven by price increases in NAND Flash products announced by manufacturers like SanDisk and Micron since September, with some models seeing price hikes exceeding 10% [1] Industry Summary - NAND Flash price increases are igniting bullish expectations in the storage industry, with the current phase identified as the early stage of a NAND upcycle [1] - Morgan Stanley projects that the price increase trend is expected to continue until 2026, indicating a positive outlook for the NAND market [1] - Investors are advised to closely monitor the actual execution of cloud providers' orders, manufacturers' earnings announcements, and news regarding capacity expansions [1]

Core Viewpoint - Micron Technology (MU.US) saw a price increase of over 5%, reaching $165.47, driven by rising NAND Flash prices from manufacturers like SanDisk and Micron since September, with some models increasing by over 10% [1] Industry Summary - NAND Flash price increases are igniting bullish expectations in the storage industry, with the current phase being identified as the early stage of a NAND upcycle [1] - Morgan Stanley projects that the price increase trend will continue until 2026, indicating a positive outlook for the NAND market [1] - Investors are advised to closely monitor the actual execution of cloud vendors' orders, manufacturers' earnings announcements, and news regarding capacity expansions [1]

Core Viewpoint - Micron Technology (MU.US) shares rose over 5%, reaching $165.15, driven by price increases announced by NAND Flash manufacturers like SanDisk and Micron since September, with some models seeing price hikes exceeding 10%, igniting bullish expectations for the storage industry chain [1] Group 1 - NAND Flash price increases have been reported by multiple manufacturers, with some models experiencing over a 10% rise [1] - Morgan Stanley predicts that the price increase cycle may extend until 2026, creating a strong short-term catalyst effect [1]