Core Viewpoint - China Hongqiao (01378) shows strong market performance with a nearly 4% increase in early trading, reflecting investor confidence amid ongoing share buybacks and positive industry dynamics [1] Company Summary - China Hongqiao's share price rose by 2.75% to HKD 26.14, with a trading volume of HKD 471 million [1] - The company has been actively repurchasing shares, spending HKD 7.5941 million to buy back 300,000 shares on October 14, and a total of HKD 2.6 billion to repurchase 18.7 million shares in the first half of the year, indicating strong confidence from the board and management in the company's long-term strategy and growth [1] Industry Summary - Century Aluminum announced a significant reduction in production at its Grundartangi aluminum smelter due to a fault, affecting 200,000 tons of capacity and reducing output by approximately two-thirds, which represents about 0.3% of global capacity [1] - South32 indicated a high probability of the Mozal aluminum smelter being offline for maintenance due to power supply issues, potentially affecting 500,000 tons of capacity by March 2026 [1] - Citic Securities highlighted that the Mozal shutdown could have significant implications for the aluminum industry, suggesting a tightening supply constraint and potential upward pressure on prices, while Guohai Securities maintains a positive long-term outlook for the aluminum sector due to limited supply growth and ongoing demand [1]