CBN News 2026-10-09 08:07:49

Author: Yicai Information Editor-in-Chief: Luo Yi

Financial Calendar

• U.S. one-year inflation rate in October
• Seoul Stock Exchange closes for one day
• The SSE Photovoltaic Science and Technology Leading Index was officially released.

The People's Bank of China issued a policy statement on the RMB exchange rate, for the first time providing a comprehensive and systematic exposition of its policy stance regarding the RMB exchange rate. The document states that China implements a managed floating exchange rate system based on market supply and demand, with reference to a basket of currencies, and insists on allowing the market to play a decisive role in the formation of the exchange rate. It emphasizes that China's trade development is rooted in the enhancement of the international competitiveness of its industries. China has no need nor intention to gain a trade advantage through exchange rate depreciation and never engages in competitive currency devaluation. International methods for assessing the equilibrium level of exchange rates are not yet mature, and using individual assessment conclusions as an “official basis” for claiming that the RMB exchange rate is undervalued is a misinterpretation and misuse of those results. attributing the decline in one’s own country’s industrial competitiveness, weakening of financial constraints, and complex structural problems to the exchange rates of other countries is a way to shirk and avoid one’s own responsibility for adjustment.

On the evening of October 8th, Zunjie Automobile officially released a statement regarding issues related to the brake pedal bracket base of their vehicles. The statement indicates that Zunjie Automobile's braking system has been developed and verified in accordance with standards that are higher than national standards (GB 21670-2025 / GB 7258-2026) and industry standards (QC /T 788-2018). Since the delivery of the first batch of vehicles, no failures involving fractures in the brake pedal bracket base have occurred in actual user scenarios.

"We will further optimize the design of this component and provide free upgrade options for users who have already received their vehicles," Zunjie Automobile stated. We will conduct systematic reviews and enhancements to the design verification, test boundaries, and production quality management of related components, in order to continuously improve our safety system.

According to CCTV Finance, on October 8th local time, Federal Reserve Board member Jerome Powell delivered a public speech at the Istanbul Economic Forum in Turkey. Powell stated that in order to curb inflation, it may still be necessary to raise interest rates further in the future to bring inflation down to the policy target level of 2% as soon as possible. This stance is similar to the views expressed by other senior Federal Reserve officials recently. Several officials have indicated that the Federal Reserve still has time to assess the economic situation before considering the next interest rate hike.

On that day, Waller stated on the forum that the current inflation issue cannot be ignored. Inflation in the United States has been above the 2% target for nearly five and a half years, and recently prices have accelerated upward again. Multiple factors are hindering the process of inflation cooling down: there are no signs of an end to the conflicts in the Middle East in the short term; the global artificial intelligence industry is developing rapidly, and the shortage of chips is driving up the prices of high-tech consumer goods; ongoing trade conflicts could lead to new tariffs, continuing to put pressure on prices.

In his speech, Waller also mentioned the dot plot released by the Federal Reserve on a quarterly basis. He noted that the dot plot published at the September interest rate meeting reflects the officials' assessments of the interest rate path; among the 18 officials who submitted their forecasts, the vast majority expect another interest rate hike within 2026. The interpretation of the 2027 dot plot should not be oversimplified, as some officials' forecasts suggest the possibility of raising rates first and then lowering them later on. Eight officials believe that interest rates will be higher by the end of 2027 than they are currently.

It is reported that shipping giant Maersk has raised the emergency fuel surcharge to 20%, which will take effect from October 12, 2026.

Google Cloud releases Gemini Agent, positioned as a "general-purpose work agent" ( universal agent for work ). Google Cloud states that Gemini Agent can handle tasks such as knowledge-based work, answering questions, creating content, and programming. Users only need to set goals without providing specific operational instructions. It can leverage Google's own Gemini series of models and the Claude model from Anthropic. In the future, it will also support other leading proprietary and open-source models.

The performance of the three major U.S. stock indices was divergent. As of the close, the Dow Jones Industrial Average rose by 0.1%, the Nasdaq Composite Index fell by 1.25%, and the S&P 500 Index declined by 0.47%.

The Philadelphia Semiconductor Index fell by more than 3.39%, with Broadcom and Oracle's stock prices declining by 4.4% and 5.5% respectively.

The storage chip sector weakened, and Samsung Electronics released a record quarterly profit forecast, but this failed to boost market sentiment. Sandisk, SK Hynix, and Micron Technology all fell by more than 4%.

The optical communication sector performed poorly, with Coherent falling nearly 10%, and Lumentum dropping by more than 6%.

Star tech stocks generally fell, with only Apple rising by 1.11%, while Amazon and NVIDIA dropped by more than 2%.

The NASDAQ China Golden Dragon Index fell by 0.62%, while Alibaba and Baidu both lost more than 1%.

The Nikkei 225 index opened down 0.57%.

2Lianban Xingye Co., Ltd.: Phenolic resin for photoresist is still in the sample submission and testing stage

8-Lianban Xinhua Media: If the stock price continues to rise abnormally, a suspension for verification may be applied for.

3-in-1 Shanghai Xiba: The company's solid-state battery-related business has not yet formed long-term, stable, and scaled revenue.

Jin Longyu: The company's solid-state battery business is still in the stage of capacity construction and expansion of downstream customers.

Wavelength Optoelectronics: The company and its chairman were prosecuted for smuggling goods prohibited from import and export by the state

Xiongsu Technology: Plans to acquire no more than 80% of the equity in Xinyuan New Materials

Dongshan Precision: Rumors about relevant policies have not yet affected the company's current operating performance. The company has already made early arrangements for production capacity in multiple regions and diversified supply chain solutions.

Cantonese Evergreen: Clarifies that Chairman Ou Xiantao is not involved in the rumors of a conflict over Eastern Airlines flights; a report has been filed for handling.

Defu Technology: Currently has a full backlog of orders, with the production capacity of high-end copper foil being increased in an orderly manner

CICC Lingnan: The company is not involved in the production of copper-clad plates, MLCC, or related businesses.

Dinglong Shares: Expected net profit for the first three quarters of 2026 to increase by 62%-66% year-on-year

Dongyue Silicon Materials: Expected net profit to increase by 19,050%-19,750% year-on-year in the first three quarters due to rising prices of main products

Guanghui Energy: Expected net profit to increase by 167%-177% year-on-year in the first three quarters; central price of main product sales to rise

Benchuan Intelligence: Expected net profit to increase by 190%-335% year-on-year in the first three quarters; revenue proportion of high-end, high-value-added products such as multi-layer boards and advanced HDI to rise

Xingyun Technology: Q3 Net profit is expected to grow by 569%-716% month-on-month, with explosive growth in computing power business, especially server sales business

Jingchen Co., Ltd.: Third-quarter net profit expected to increase by 223%-248% year-on-year; preliminary estimate suggests annual revenue could exceed 10 billion yuan

Guotai Haitong: Performance returns to the focus of attention, style balance may continue.

First startup phase: Technology is still seeking its bottom. Whether it can stabilize depends on the performance of the third-quarter reports and the turning point of U.S. Treasury bonds.

Guocheng Investment Advisory: There is a significant difference in the performance of technology sectors both domestically and internationally; it is expected that the A-share technology sector will stop declining and stabilize next week.

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Article Author

Policies and Stances of the People's Bank of China on the RMB Exchange Rate

China implements a managed floating exchange rate system that is based on market supply and demand and takes into account a basket of currencies for adjustment.

Nazi Index hits a new closing high again, hard disk stocks rebound, PTC surges by over 33%, international oil prices fall nearly 2%

The market's expectations for further interest rate hikes this month are still significantly lower than they were a week ago.

Non-farm payroll falls short of expectations! Prospects for interest rate hikes cool down again, U.S. stocks close higher, Tesla gains nearly 5%, storage sector weakens, gold and silver decline.

On a weekly basis, the Dow Jones Industrial Average fell by 1.26%, the S&P 500 Index declined by 0.27%, while the Nasdaq Composite Index rose by 0.45%.

Gold falls below $4,200 to a seven-week low, while the A-share gold sector bottoms out and recovers

Under the dual pressure of inflation concerns triggered by high oil prices and high yields on U.S. Treasury bonds, international gold prices have recently experienced a sharp decline before rebounding.

The RMB has developed its own independent trading trend. After hitting new highs, how will it perform in the fourth quarter?

The Fed raises interest rates, so why doesn't the RMB depreciate but instead appreciate? With the exchange rate appreciating, will the losses of A-share companies increase?