注：文章只是个人的投资记录，不作投资推荐，也不推荐任何人入市。股市风险极大，一般人切莫进入。 今天，A股创出10年新高，盘中离4000点只有1点之遥。 不出意外的话，明天盘中应该可以触及4000点，甚至有可能短暂超越4000点。总之，不管明天会不会破4000点，这轮牛市铁定破4000点。 个人觉得，市场在这个点位进行休息和整固，还是很有必要。走得太快、太急，反而不一定走得好、走得远。 遥想国庆后大跌，我撰文《 我说，"这一轮如果真的跌出恐慌盘来，那就是倒车接人的黄金坑。"预言"这一次倒车，可能将会是4000点前最后一次倒车了。" 可市场走出来的结果，比我这个乐观主义者还要乐观。 我撰文的当天，市场便走出一个深V，见到这波调整的最低点。 10月13日之后，市场就再也没有回到这个低点。 这次调整，其实我是有预料的，可重仓的我没有做高抛低吸。事后，我家那口子也不明白，问我为什么不做一个短线赚笔快钱？ 我相信，这也是很多人常犯的毛病，这里多扯几句。 不是我不想赚这笔钱，而是市场中血的教训告诉我，在逻辑没破、目标没有达到之前，不要盲动。 既然你觉得自己买的票是星辰大海，还远远没有涨到头，何必在乎这一点点蝇头小利。 为了 ...

证监会网站披露，苏州法特迪科技股份有限公司于2025年10月28日在江苏证监局办理辅导备案登记，拟 首次公开发行股票并在A股上市，辅导券商为中信证券。 ...

Core Viewpoint - The article highlights the strong performance of major U.S. stock indices, driven by optimism surrounding technology giants' earnings and Nvidia's significant rebound, with the S&P 500, Nasdaq, and Dow Jones reaching historical highs [3][4]. Group 1: Stock Market Performance - The S&P 500 index rose by 0.23% to close at 6890.89 points, marking its first time surpassing the 6900-point threshold [3]. - The Nasdaq composite index increased by 0.80% to 23827.49 points, while the Dow Jones Industrial Average gained 161.78 points, or 0.34%, closing at 47706.37 points [3]. - Nvidia's stock surged by 4.98%, reaching a market cap of $4.94 trillion, with a single-day market value increase of over $230 billion [3][4]. Group 2: Technology Giants' Earnings - Investors are focusing on quarterly earnings reports from major tech companies, including Apple, Microsoft, Alphabet, Amazon, and Meta, to assess their investments in AI and capital expenditures [4]. - The overall earnings growth for S&P 500 companies in Q3 is projected to be 10.5%, exceeding previous expectations of 8.8% [4]. Group 3: Economic Indicators - The U.S. government shutdown has delayed the release of official economic data, leading the market to rely on corporate disclosures and private statistics [4]. - The Federal Reserve is expected to announce a 25 basis point rate cut, with recent data indicating an average weekly increase of approximately 14,000 jobs in the private sector [4]. Group 4: Bond and Commodity Markets - The yield on the 10-year U.S. Treasury bond decreased by 1.2 basis points to 3.981%, while the 2-year yield remained unchanged at 3.496% [5]. - In the commodities market, WTI crude oil futures fell by 1.89% to $60.15 per barrel, and Brent crude oil futures dropped by 1.65% to $63.83 [5].

Core Viewpoint - The article discusses the significant rise in A-shares and Hong Kong stocks over the past year, exploring the reasons behind this increase, the current valuation of RMB assets, and the potential for future market growth [1][18]. Group 1: Market Trends - In a bull market, fluctuations are normal, and corrections are common even during significant upward trends [3][4]. - Historical data shows that even during major bull markets, such as in 2007, there were multiple corrections exceeding 10% [5][9]. - The index tends to rise over the long term, with past crises only causing temporary fluctuations [9]. Group 2: Recent Performance - As of mid-September 2024, A-shares and Hong Kong stocks have risen significantly from a historical low valuation of 5.9 stars to around 4.1-4.2 stars [15][19]. - The past year has seen A-shares and Hong Kong stocks leading global markets, with the MSCI World Index rising by 22.98% and the Hang Seng Index increasing by 55.93% [21]. Group 3: Reasons for Market Growth - The first reason for the recent rise is valuation improvement, as the previous bear market had driven valuations to extremely low levels, with A-shares and Hong Kong stocks being 50% lower than the global average [19][20]. - The second reason is the improvement in liquidity, aided by favorable policies and market conditions, including the Federal Reserve's interest rate cuts and domestic supportive measures [26][28]. Group 4: Earnings Growth - There are signs of improvement in earnings, particularly in the technology and pharmaceutical sectors, which have shown significant growth [30][32]. - The technology sector in Hong Kong saw a remarkable earnings growth of 128.92% year-on-year in Q1 2025, although growth rates slowed to 51.24% in Q2 [32]. - Consumer sectors in A-shares have shown stable earnings growth, but the growth rate has slowed recently [34][38]. Group 5: Future Market Outlook - If the Federal Reserve continues to lower interest rates and domestic conditions remain accommodative, there is potential for further market growth, especially if earnings continue to improve [40].

Core Viewpoint - Langke Technology (300042.SZ) reported a revenue of 795 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 35.19% [1] Financial Performance - The net loss attributable to shareholders of the listed company was 28.4647 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 28.1448 million yuan [1] - The basic loss per share was 0.142 yuan [1]

新京报讯（记者姜慧梓）10月27日，丰台区商务局和丽泽金融商务区管理委员会正式面向商务人才发放 首批"丽泽黑卡"，为其提供一站式、精准化高品质服务。 "丽泽黑卡"是丽泽金融商务区整合区域资源打造的"一站式服务集成平台"，将餐饮、教育、医疗、法 律、银行、差旅等服务功能集中在一张卡片上，并配套开通专线服务电话，为商务人士提供一站式、便 捷化、高品质的专属服务。 比如，持卡商务人士可以享受指定酒店特色入住权益和免费升级房型服务；为商务人士举办大师分享 会、多元教育素养课程；量身定制专属理财方案，提供个性化资产配置建议和优先服务通道；持卡人可 享受集体检中心、临床医疗、专业康复于一体的定制化健康管理服务。此外，丰台区联合多家知名律师 事务所，为企业出海拓展国际业务、加强企业内部合规治理、处理家族事务等复杂法律问题，提供法律 支持和咨询服务。 丽泽金融商务区管理委员会负责人表示，"丽泽黑卡"的目标是逐步构建起从生活配套到产业生态的全方 位、便利化服务体系，让企业和人才愿意来、留得住、发展好。未来，"丽泽黑卡"还将集成更多服务， 逐步扩大服务范围。 据了解，丽泽金融商务区目前入驻企业总量突破1400家，其中金融、科技类 ...

Core Insights - Liu Yonghao, President of the Sichuan Chamber of Commerce and Chairman of New Hope Group, praised Hubei's business environment, highlighting its emphasis on supporting entrepreneurs and fostering successful business leaders like Chen Dongsheng and Lei Jun [1] - The 7th Chushang Conference showcased high standards, significant themes, and prominent figures, indicating Hubei's growing attractiveness as an investment destination for entrepreneurs [1] - New Hope Group has made substantial investments in Hubei, exceeding 20 billion yuan, across various sectors including agriculture, food, technology, and urban construction [1] Investment and Economic Development - Liu Yonghao has actively promoted investment in Hubei, bringing fellow entrepreneurs for exploration and collaboration [1] - The strategic cooperation framework agreement signed in 2021 between the Sichuan Chamber of Commerce and the Chushang United Association aims to support the healthy growth of enterprises and promote economic development between the two regions [1] - There are tens of thousands of Sichuan enterprises operating in Hubei, reflecting a strong economic interconnection between the two provinces [1]

Group 1 - The Hong Kong stock market has entered a new upward trend after four consecutive years of decline, with a significant increase in the number of IPOs and financing scale, indicating a vibrant market atmosphere [1] - The influx of southbound capital and clear expectations of interest rate cuts in the US are injecting vitality into the Hong Kong market, positioning it to attract some outflow funds as a global capital hub [1] - The transformation of the asset side, driven by the listing of high-quality "blue-chip" companies and a shift of new economy and technology firms from the US to Hong Kong, is crucial for revitalizing the market and diversifying its traditional focus on real estate and consumption [1] Group 2 - The shift in cornerstone investors' attitudes reflects a resurgence in the attractiveness of the Hong Kong stock market, with investors now actively seeking quality enterprises, particularly in the consumer and technology sectors [2] - Despite the positive changes, local investors in Hong Kong still need to adapt their perceptions of new economy enterprises, as there is a lag in understanding their value compared to traditional sectors [2] - The development of a healthy market mechanism is essential for the sustained improvement of the Hong Kong stock market, necessitating stricter regulatory measures to combat financial fraud and protect reputable companies [3] Group 3 - The long-term development of the Hong Kong stock market is closely tied to the internationalization of the Renminbi, with strong support from the government providing a solid strategic foundation [3] - The current phase of the Hong Kong stock market represents both a window of opportunity for capital and a transitional period for ecological restructuring, emphasizing the need for robust mechanisms to support innovation [3]

Group 1 - Treasury Secretary Scott Besson has confirmed five finalists to succeed Federal Reserve Chair Jerome Powell, with President Trump expected to make a decision by year-end [1] - The market is currently focused on the upcoming Federal Reserve meeting and the state of the labor market, rather than the selection of the new Fed Chair [2][3] - There is an expectation that the Fed will cut interest rates this week, with attention on guidance for future meetings, particularly December [5][6] Group 2 - The labor market is showing signs of slowing, but consumer data remains strong, indicating resilience in the economy [8][10] - Earnings reports from companies are generally positive, with net profit margins for S&P 500 companies above their five-year average for six consecutive quarters [21][22] - There is optimism regarding job growth and capital expenditure outlook, with expectations for a broadening of economic activity beyond just healthcare and AI sectors [15][31] Group 3 - The US and China are reportedly moving towards a framework for a potential trade agreement, which could positively impact both economies [17][20] - Corporate earnings season is ongoing, with high expectations for tech earnings and a focus on how markets will respond to these results [26][30] - The Federal Reserve's interest rate cut is anticipated, with discussions around the end of quantitative tightening gaining traction [32][35]

Core Viewpoint - The Hong Kong stock market experienced a decline, with the Hang Seng Index closing down 0.33% at 26,346.14 points, amid mixed performances across various sectors and stocks [1] Market Performance - The Hang Seng Index fell by 0.33% or 87.56 points, with a total trading volume of 242.7 billion HKD [1] - The Hang Seng China Enterprises Index decreased by 0.97%, closing at 9,375.79 points, while the Hang Seng Tech Index dropped by 1.26% to 6,093.44 points [1] Blue-Chip Stocks - HSBC Holdings (00005) led the blue-chip stocks, rising by 4.41% to 106.5 HKD, contributing 92 points to the Hang Seng Index [2] - HSBC reported a pre-tax profit of 7.3 billion USD for Q3 2025, a decrease of 1.2 billion USD year-on-year, but a 3% increase in fixed-rate pre-tax profit to 9.1 billion USD [2][6] - Other notable blue-chip performances included Xinyi Solar (00968) up 4.27% and AIA Group (01299) up 3.4% [2] Sector Movements - Large tech stocks generally declined, with Tencent and Alibaba both falling over 1% [3] - Gold stocks faced significant declines, with Chifeng Jilong Gold Mining (600988) down over 6% [3] - Hong Kong banking stocks rose against the trend, with HSBC's strong Q3 results boosting investor confidence [5][6] New Listings - Four new stocks debuted positively, with Dipo Technology (01384) surging 150.56% and Baima Tea (06980) rising 86.7% [4][5] - Dipo Technology's IPO was notably oversubscribed, with a subscription rate of 7,590 times, attracting approximately 239,000 investors [5] Gold Market - Gold prices saw a significant drop, with spot gold falling 3% to below 3,900 USD per ounce, attributed to reduced safe-haven demand following U.S.-China trade developments [4] - Analysts suggest that gold is no longer a wise short-term investment, although it retains long-term value [4] Notable Stock Movements - Fuyao Glass (06865) saw a strong performance, rising 12.29% after reporting a 21% year-on-year revenue increase [7] - Bilibili (09626) gained 5.31% following the successful launch of its new game, which sold over 200,000 copies shortly after release [8] - China Southern Airlines (01055) reported a revenue increase of 2.23% year-on-year for the first three quarters of 2025 [10] - China State Construction International (03311) experienced a significant drop of 8.6% after reporting a revenue decline [11]