根据中央统一部署，2024年4月16日至7月20日，中央第八巡视组对上海证券交易所（以下简称上交所） 党委进行了巡视。2024年10月20日，中央巡视组向上交所党委反馈了巡视意见。按照巡视工作有关要 求，现将巡视整改进展情况予以公布。 一、党委履行巡视整改主体责任情况 上交所党委深入学习贯彻习近平新时代中国特色社会主义思想，在中国证监会党委坚强领导和中央纪委 国家监委驻证监会纪检监察组有力监督下，坚决扛起巡视整改政治责任，以实际行动拥护"两个确立"、 践行"两个维护"。 （一）坚持思想引领，强化整改内在自觉。深刻认识党的领导是中国特色社会主义最本质的特征，必须 坚持和加强党的全面领导。把学习贯彻习近平总书记关于巡视工作和金融工作的重要论述贯穿整改全过 程，以思想整改带动行动整改，切实增强巡视整改的政治自觉、思想自觉、行动自觉。 （二）坚持以上率下，层层压实整改责任。建立覆盖整改全周期的闭环工作机制，压实整改责任，确保 整改质量。党委主要负责同志切实履行"第一责任人"责任，领办重点难点问题；聚焦重要环节，强化统 筹部署，压严压实责任，做到负总责、首责。党委副书记将整改重要事项纳入总经理办公会议题，落实 好党委部 ...

每经讯，2025年9月22日，北交所上市公司世昌股份（920022，收盘价：34.4元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日换手率达到52.17%，成交数量866.89万股，成交金额3.12亿元。买一席位为广发证券股份有限公司广州中山三路中华广场 营业部，买入1187.9万元；卖一席位为中信建投证券股份有限公司大连分公司，卖出965.82万元。 （记者 张喜威） | | 2025-09-22世昌股份 (920022) 龙虎榜 | | | | --- | --- | --- | --- | | 序号 | 交易营业部名称 | 买入金额 (元) | 卖出金额 (元) | | न्द्र ग | 广发证券股份有限公司广州中山三路中华广场营业部 | 11878954 | 3702 | | 买2 | 华泰证券股份有限公司深圳益田路荣超商务中心证券营业 都 | 7909416.62 | 500375.28 | | ऋ३ | 东方财富证券股份有限公司拉萨团结路第一证券营业部 | 4423698.17 | 973521.86 | | ग्रेडर | 中信建投证券股份有限公司北京朝阳路证券营业部 | 3727486 ...

Group 1 - HSBC maintains a hold rating on SenseTime (00020.HK) and raises the target price to HKD 3.1, citing the company's "1+X" strategic transformation and improved market sentiment, but warns of potential supply bottlenecks in AI chip resources [1] - Goldman Sachs maintains a buy rating on Hong Kong Exchanges and Clearing (00388.HK) and raises the target price to HKD 544, expecting structural increases in southbound capital flow and participation due to the company's diversified offerings [1] - Citic Lyon reiterates a market outperform rating on CATL (03750.HK) and raises the H-share target price to HKD 670, driven by strong demand in the electric vehicle and ESS markets, with a projected 10% increase in battery shipments from 2026 to 2027 [1] Group 2 - Morgan Stanley maintains an overweight rating on Ping An Insurance (02318.HK) and raises the target price to HKD 70, adjusting earnings forecasts for 2025 to 2027 upwards by 1.9%, 0.4%, and 0.6% respectively [2] - Morgan Stanley gives China Life Insurance (02628.HK) an overweight rating and raises the H-share target price to HKD 25.7, with earnings forecasts for 2025 to 2027 increased by 13.1%, 1%, and 1.9% respectively, benefiting from a rising stock market and stable sales growth [3] Group 3 - Goldman Sachs reiterates a buy rating on Baidu (09888.HK) and raises the target price to HKD 150, highlighting the rapid growth of non-search businesses and the acceleration of AI value release [4] - Guotai Junan maintains an overweight rating on Boss Zhipin (02076.HK) with a target price of HKD 109.66, noting a 30.9% year-on-year growth in adjusted net profit and steady progress in AI commercialization in recruitment scenarios [4] - Guotai Junan maintains an overweight rating on Super盈 International Holdings (02111.HK) with a target price of HKD 4.42, emphasizing the company's strong position in the elastic fabric sector and consistent high dividend yield [5]

Core Viewpoint - Nasdaq's proposal to introduce tokenized securities aims to integrate blockchain technology into mainstream financial markets, marking a significant evolution in global capital market structures [5][10]. Group 1: Tokenization of Securities - Tokenized securities refer to the process of converting traditional financial assets into digital tokens via blockchain, allowing for 1:1 anchoring with physical securities and granting equivalent voting, dividend, and governance rights [7]. - The tokenization framework extends beyond public market securities to include Real World Assets (RWA) such as real estate, private equity, and art, enabling low-cost, high-transparency trading of previously illiquid assets [7][12]. - Stablecoins are expected to play a crucial role as transaction mediums and settlement tools in the tokenized ecosystem, facilitating instant payments without relying on traditional cross-border remittance networks [7][8]. Group 2: Nasdaq's Tokenization Settlement Plan - Nasdaq's tokenization settlement plan involves four key steps: investors select the "tokenized settlement" option through brokers, settlement instructions are sent to the Depository Trust Company (DTC), DTC locks the corresponding stocks in a dedicated account and triggers the minting of equivalent tokens via smart contracts, and finally, tokens are distributed to brokers' on-chain wallets [8]. - This hybrid model of "off-chain trading, on-chain settlement" retains traditional market liquidity while leveraging blockchain's efficiency, achieving near-instant (T+0) settlement and significantly reducing counterparty risk and capital costs [8][11]. Group 3: Strategic Motivations Behind Nasdaq's Move - Nasdaq's push for tokenized securities addresses deep-rooted inefficiencies in traditional settlement systems, aiming to compress the lengthy T+2 settlement process to seconds, thus lowering costs and risks associated with trading [11]. - The initiative seeks to expand the asset boundary by enabling the fractionalization of non-standard assets, thereby attracting a diverse range of global assets and new on-chain investors [12]. - By leading the charge in compliant tokenization frameworks, Nasdaq aims to maintain its global trading technology leadership amidst increasing competition from firms like BlackRock and JPMorgan [13]. Group 4: Implications for Global Financial Infrastructure - Nasdaq's approach to tokenization is reshaping the development path of global financial infrastructure, ensuring that digital tokens have the same legal status and investor rights as traditional securities [15]. - The integration of programmable features through smart contracts is expected to automate complex processes such as corporate governance and compliance, enhancing operational precision and efficiency in global capital markets [15]. - The hybrid model of "on-chain and off-chain" is anticipated to become an industry standard, opening compliant pathways for trillions in non-standard assets to enter the blockchain ecosystem [15]. Group 5: Challenges and Future Outlook - Despite the promising outlook for tokenized securities, structural challenges such as regulatory compliance, traditional financial system inertia, and the need for significant infrastructure upgrades pose hurdles to widespread adoption [16][17]. - The lack of a unified global regulatory framework for securities tokens remains a significant barrier, as different countries have varying legal definitions and investor access rules [16][17]. - The potential impact on Chinese stock exchanges could be profound, as Nasdaq's advancements in T+0 settlement and RWA compliance may attract domestic investors to overseas blockchain markets, challenging the current capital flow dynamics [19][20].

Core Viewpoint - The U.S. Securities and Exchange Commission (SEC) has approved three exchanges to expedite the listing process for exchange-traded products (ETPs) that hold physical commodities like gold or Bitcoin, aiming to enhance investor access and promote innovation in the market [1]. Group 1 - The approved exchanges include the Chicago Board Options Exchange (CBOE), Nasdaq, and the New York Stock Exchange [1]. - The SEC's approval allows these exchanges to list commodity-based trust stocks as long as they meet the "approved generic listing standards" [1]. - SEC Chairman Paul Atkins stated that this approval simplifies the listing process and reduces barriers to accessing digital asset products in the U.S. capital markets [1].

人民财讯9月17日电，9月17日，香港特区行政长官李家超在立法会发表2025年《施政报告》。李家超表 示，港交所2022年推出国际碳交易平台Core Climate，是全球唯一以港元及人民币结算自愿碳信用的交 易平台。未来会加强与大湾区碳市场的试点合作，试验跨境交易结算路径，共建区内碳市场生态圈。香 港亦会联同内地相关监管部门和机构，研究国家参与国际碳市场的相关事宜，包括设订自愿碳信用标准 和方法，以及碳减排量的登记、交易、结算等。 ...

莫斯科交易所突发！ 据莫斯科交易所官网消息，莫斯科交易所于当地时间9月13日10:12（北京时间15:12）暂停股票市场交易，且未给出暂停交易的原因。 | ¥ 11.7495 ↓ | ₺2.08 个 | T 16.005 J | Br 27.60 % | SOFL 103.34 +0.51% | | UPRO 1.579 +0.51% | TGKB 0.0071 +0.49% | YDEX 4220.50 +0.49% | RTKM | EN > | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | IPO | For investors | To issuers | Market data | About MOEX | Q | 트 | Saturday 13 September 11:12 | Login | | Derivatives Market | | Money Market | Precious Metals Market | | FX Market | Securities Market | | S ...

Group 1 - The Moscow Exchange announced the resumption of trading in the securities market at 11:40 AM local time on September 13, 2025, with the trading system available for order withdrawal [1][2] - The Central Bank of Russia lowered the key interest rate from 18% to 17%, marking the third consecutive rate cut, with future adjustments depending on inflation trends [2][3] - Trading data indicated that the ruble exchange rate remained stable despite the Central Bank's rate cut, as experts noted that total demand and inflation in the Russian economy were below the Central Bank's forecasts [3]

当地时间周六，莫斯科证券交易所发布公告称，股票市场于当地时间9月13日10时12分暂停交易，恢 复时间将在适当时候宣布。莫斯科证券交易所未给出暂停交易的原因。 随后莫斯科证券交易所表示，交易将于莫斯科时间11点40分（北京时间16:40）恢复。 ...

自2025年10月9日起，北交所将为存量股票启用新证券代码，投资者对存量股票的交易委托、行情查 询，市场主体对存量股票的业务办理等均使用切换后的证券代码。新旧代码对应关系可通过北交所官 网"服务—新旧代码对照表"栏目查询。 北京商报讯（记者 马换换 实习记者 李佳雪）9月12日晚间，北交所发文称，北交所存量上市公司代码 切换工作总体准备就绪。 ...